Insider Selling: Aflac (NYSE:AFL) Director Sells 12,370 Shares

Key Points

• Director Joseph Moskowitz sold 12,370 shares of Aflac on June 22 at an average price of $116.54, for proceeds of about $1.44 million. After the sale, he still owned 33,310 shares, reducing his stake by 27.08%.
• Aflac shares were slightly lower, trading down 0.9% to $117.73, near the stock’s 52-week high of $119.81. The company’s market cap is about $59.9 billion, with a P/E ratio of 13.37.
• Recent fundamentals were mixed: Aflac reported Q1 EPS of $1.75, missing estimates by $0.05, while revenue came in above expectations at $4.24 billion and rose 27.9% year over year. The company also paid a quarterly dividend of $0.61, implying a 2.1% yield.

Aflac Incorporated (NYSE:AFL - Get Free Report) Director Joseph Moskowitz sold 12,370 shares of Aflac stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $116.54, for a total transaction of $1,441,599.80. Following the transaction, the director directly owned 33,310 shares of the company's stock, valued at approximately $3,881,947.40. This represents a 27.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Aflac Trading Down 0.9%

Shares of NYSE:AFL traded down $1.06 during trading hours on Wednesday, hitting $117.73. 355,949 shares of the company's stock traded hands, compared to its average volume of 2,443,294. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $119.81. The business has a fifty day moving average price of $115.45 and a 200-day moving average price of $112.33. The firm has a market capitalization of $59.92 billion, a P/E ratio of 13.37, a price-to-earnings-growth ratio of 2.04 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.11 and a quick ratio of 0.11.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.80 by ($0.05). Aflac had a net margin of 25.60% and a return on equity of 13.88%. The business had revenue of $4.24 billion for the quarter, compared to analysts' expectations of $4.20 billion. During the same quarter in the previous year, the firm earned $1.66 EPS. Aflac's revenue was up 27.9% compared to the same quarter last year. Equities analysts expect that Aflac Incorporated will post 7.08 earnings per share for the current year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 20th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, May 20th. Aflac's dividend payout ratio (DPR) is currently 27.70%.

Institutional Investors Weigh In On Aflac

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Aflac by 13.4% in the fourth quarter. Vanguard Group Inc. now owns 57,142,072 shares of the financial services provider's stock valued at $6,301,056,000 after acquiring an additional 6,759,169 shares during the period. Norges Bank purchased a new position in shares of Aflac during the 4th quarter valued at approximately $420,078,000. First Trust Advisors LP increased its holdings in shares of Aflac by 161.9% during the 1st quarter. First Trust Advisors LP now owns 3,184,801 shares of the financial services provider's stock valued at $349,405,000 after purchasing an additional 1,968,738 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of Aflac by 1,184.5% in the 3rd quarter. AQR Capital Management LLC now owns 1,264,090 shares of the financial services provider's stock valued at $141,199,000 after purchasing an additional 1,165,676 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Aflac by 390.7% in the 4th quarter. Marshall Wace LLP now owns 1,111,711 shares of the financial services provider's stock valued at $122,588,000 after purchasing an additional 885,141 shares during the period. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of Aflac from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. Wells Fargo & Company dropped their price target on Aflac from $116.00 to $111.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings upgraded Aflac from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday, June 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $130.00 price objective (up from $125.00) on shares of Aflac in a research note on Tuesday, May 26th. Finally, UBS Group dropped their target price on shares of Aflac from $116.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $112.27.

About Aflac

Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac's product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.

Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.

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