Aflac Incorporated (NYSE:AFL) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in Aflac Incorporated (NYSE:AFL) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 144,413 shares of the financial services provider’s stock after selling 13,336 shares during the period. Amalgamated Bank’s holdings in Aflac were worth $11,914,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. BKM Wealth Management LLC acquired a new stake in shares of Aflac in the 4th quarter worth $1,558,000. abrdn plc increased its position in Aflac by 51.2% during the 4th quarter. abrdn plc now owns 298,226 shares of the financial services provider’s stock worth $24,604,000 after purchasing an additional 100,937 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of Aflac by 353.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 14,754 shares of the financial services provider’s stock worth $1,217,000 after buying an additional 11,499 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Aflac by 25.9% in the 4th quarter. Nordea Investment Management AB now owns 1,693,249 shares of the financial services provider’s stock valued at $139,676,000 after buying an additional 348,400 shares during the period. Finally, G&S Capital LLC boosted its stake in shares of Aflac by 65.1% in the fourth quarter. G&S Capital LLC now owns 31,825 shares of the financial services provider’s stock valued at $2,626,000 after buying an additional 12,551 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Down 1.0 %

Shares of NYSE:AFL traded down $0.83 during midday trading on Friday, hitting $83.21. 2,938,536 shares of the company’s stock traded hands, compared to its average volume of 2,533,085. Aflac Incorporated has a twelve month low of $64.10 and a twelve month high of $86.26. The company has a market cap of $47.88 billion, a PE ratio of 9.18, a P/E/G ratio of 2.31 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.06 and a current ratio of 0.08. The firm’s fifty day moving average price is $83.08 and its two-hundred day moving average price is $81.87.

Aflac (NYSE:AFL) last issued its earnings results on Wednesday, May 1st. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $4.09 billion. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.55 earnings per share. On average, equities research analysts anticipate that Aflac Incorporated will post 6.41 EPS for the current fiscal year.

Aflac Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.40%. This is a positive change from Aflac’s previous quarterly dividend of $0.42. Aflac’s dividend payout ratio (DPR) is currently 22.08%.

Insider Transactions at Aflac

In related news, Director Thomas J. Kenny sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $84.62, for a total transaction of $423,100.00. Following the completion of the sale, the director now directly owns 17,920 shares of the company’s stock, valued at approximately $1,516,390.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Albert Riggieri sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $83.34, for a total value of $666,720.00. Following the completion of the sale, the senior vice president now directly owns 32,825 shares in the company, valued at approximately $2,735,635.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Kenny sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $84.62, for a total value of $423,100.00. Following the sale, the director now directly owns 17,920 shares in the company, valued at $1,516,390.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,493 shares of company stock valued at $3,765,706. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AFL has been the subject of a number of recent analyst reports. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a report on Friday. Wells Fargo & Company decreased their price objective on Aflac from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. Truist Financial boosted their price objective on shares of Aflac from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods raised their target price on shares of Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group increased their price target on Aflac from $61.00 to $75.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $82.31.

Aflac Company Profile

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.