Aflac Incorporated $AFL Shares Sold by Welch & Forbes LLC

Welch & Forbes LLC cut its stake in Aflac Incorporated (NYSE:AFL) by 2.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 326,635 shares of the financial services provider’s stock after selling 6,667 shares during the quarter. Welch & Forbes LLC’s holdings in Aflac were worth $36,485,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its position in shares of Aflac by 188.5% during the third quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Whipplewood Advisors LLC grew its stake in Aflac by 1,526.7% during the 2nd quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 229 shares in the last quarter. Chilton Capital Management LLC acquired a new stake in Aflac in the 2nd quarter valued at about $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in Aflac in the 2nd quarter worth approximately $26,000. Finally, Hilltop National Bank acquired a new position in shares of Aflac during the 2nd quarter worth approximately $32,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Insider Activity

In related news, EVP Steven Kent Beaver sold 5,492 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $109.53, for a total value of $601,538.76. Following the transaction, the executive vice president owned 38,368 shares of the company’s stock, valued at $4,202,447.04. This represents a 12.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Joseph L. Moskowitz sold 1,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $114.00, for a total value of $114,000.00. Following the transaction, the director directly owned 23,615 shares of the company’s stock, valued at approximately $2,692,110. This represents a 4.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 31,766 shares of company stock worth $3,549,706. 0.90% of the stock is currently owned by company insiders.

Aflac Price Performance

Shares of NYSE AFL opened at $110.94 on Friday. The stock’s 50-day moving average is $109.74 and its two-hundred day moving average is $108.20. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market cap of $58.14 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 3.26 and a beta of 0.67. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $115.83.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $2.49 EPS for the quarter, topping analysts’ consensus estimates of $1.77 by $0.72. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.36 billion. Aflac had a return on equity of 14.97% and a net margin of 23.55%.The business’s revenue for the quarter was up 59.4% on a year-over-year basis. During the same period in the previous year, the company posted $2.16 earnings per share. Analysts forecast that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Wednesday, February 18th will be given a dividend of $0.61 per share. This is an increase from Aflac’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $2.44 annualized dividend and a dividend yield of 2.2%. Aflac’s dividend payout ratio is presently 30.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AFL. JPMorgan Chase & Co. lifted their price objective on Aflac from $101.00 to $105.00 and gave the stock a “neutral” rating in a research report on Monday, January 5th. Raymond James Financial reiterated an “outperform” rating and set a $119.00 price target (up previously from $110.00) on shares of Aflac in a report on Tuesday, December 30th. Barclays set a $101.00 price target on shares of Aflac and gave the company an “underweight” rating in a research report on Thursday, January 8th. TD Cowen reaffirmed a “hold” rating on shares of Aflac in a research note on Monday, December 22nd. Finally, Evercore ISI boosted their target price on shares of Aflac from $110.00 to $111.00 and gave the company an “underperform” rating in a report on Friday, November 7th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $110.64.

Aflac Profile

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.