CIBC Asset Management Inc Buys 42,979 Shares of Aflac Incorporated $AFL

CIBC Asset Management Inc grew its stake in Aflac Incorporated (NYSE:AFL) by 23.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 224,289 shares of the financial services provider’s stock after purchasing an additional 42,979 shares during the quarter. CIBC Asset Management Inc’s holdings in Aflac were worth $24,732,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Navalign LLC bought a new stake in shares of Aflac during the 4th quarter valued at about $32,000. Darwin Wealth Management LLC bought a new position in Aflac in the second quarter worth about $33,000. Activest Wealth Management lifted its holdings in Aflac by 95.6% in the fourth quarter. Activest Wealth Management now owns 311 shares of the financial services provider’s stock worth $34,000 after buying an additional 152 shares during the period. Westside Investment Management Inc. lifted its holdings in Aflac by 100.0% in the third quarter. Westside Investment Management Inc. now owns 324 shares of the financial services provider’s stock worth $36,000 after buying an additional 162 shares during the period. Finally, Park Square Financial Group LLC boosted its position in Aflac by 80.6% during the 4th quarter. Park Square Financial Group LLC now owns 354 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Aflac

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $112.38, for a total transaction of $18,655,080.00. Following the sale, the insider directly owned 51,723,100 shares of the company’s stock, valued at approximately $5,812,641,978. This represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 909,146 shares of company stock valued at $103,061,812. Insiders own 0.80% of the company’s stock.

Aflac Stock Performance

Shares of AFL opened at $115.44 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. The stock has a market cap of $58.75 billion, a P/E ratio of 13.10, a P/E/G ratio of 2.01 and a beta of 0.61. The business’s 50 day moving average price is $113.66 and its 200-day moving average price is $111.76. Aflac Incorporated has a 52 week low of $96.95 and a 52 week high of $119.81.

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

Aflac Announces Dividend

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

Analysts Set New Price Targets

AFL has been the topic of a number of research analyst reports. Wall Street Zen upgraded Aflac from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Piper Sandler restated an “overweight” rating and issued a $130.00 target price (up from $125.00) on shares of Aflac in a research note on Tuesday, May 26th. Weiss Ratings lowered Aflac from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, May 29th. Wells Fargo & Company reduced their price target on Aflac from $116.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 5th. Finally, Mizuho set a $104.00 price objective on Aflac in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $112.27.

Aflac Company 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.