Stonebridge Financial Group LLC Boosts Stake in Aflac Incorporated $AFL

Stonebridge Financial Group LLC raised its position in Aflac Incorporated (NYSE:AFL) by 0.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,960 shares of the financial services provider’s stock after buying an additional 489 shares during the period. Stonebridge Financial Group LLC’s holdings in Aflac were worth $5,796,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of AFL. AlphaCore Capital LLC bought a new position in shares of Aflac during the first quarter worth about $28,000. Hilltop National Bank bought a new position in shares of Aflac during the second quarter worth about $32,000. Golden State Wealth Management LLC lifted its position in shares of Aflac by 121.9% during the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 167 shares during the last quarter. Groupe la Francaise bought a new position in shares of Aflac during the first quarter worth about $34,000. Finally, Garde Capital Inc. bought a new position in shares of Aflac during the first quarter worth about $36,000. Institutional investors own 67.44% of the company’s stock.

Aflac Price Performance

Shares of NYSE:AFL opened at $111.09 on Friday. Aflac Incorporated has a 52 week low of $96.95 and a 52 week high of $115.44. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $59.41 billion, a P/E ratio of 25.19, a PEG ratio of 3.10 and a beta of 0.86. The firm’s 50 day moving average is $107.30 and its two-hundred day moving average is $105.51.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business earned $1.83 earnings per share. The business’s revenue for the quarter was down 19.0% on a year-over-year basis. Analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 20th. Aflac’s dividend payout ratio (DPR) is currently 52.61%.

Aflac declared that its board has initiated a stock buyback program on Tuesday, August 12th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

AFL has been the topic of several research analyst reports. UBS Group reduced their price target on shares of Aflac from $114.00 to $111.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Barclays reissued an “underweight” rating and issued a $102.00 target price (up previously from $100.00) on shares of Aflac in a report on Wednesday. Morgan Stanley raised their target price on shares of Aflac from $108.00 to $113.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. Evercore ISI set a $110.00 target price on shares of Aflac and gave the stock an “underperform” rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on shares of Aflac from $96.00 to $100.00 and gave the stock a “neutral” rating in a report on Tuesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $109.45.

Insider Activity at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $102.57, for a total transaction of $102,570.00. Following the transaction, the director owned 25,105 shares in the company, valued at $2,575,019.85. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.90% of the stock is owned by corporate insiders.

Aflac 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.