Perigon Wealth Management LLC Takes Position in Aflac Incorporated $AFL

Perigon Wealth Management LLC acquired a new position in shares of Aflac Incorporated (NYSE:AFL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,997 shares of the financial services provider’s stock, valued at approximately $1,055,000.

A number of other institutional investors also recently bought and sold shares of AFL. Vanguard Group Inc. lifted its stake in Aflac by 13.4% in the 4th quarter. Vanguard Group Inc. now owns 57,142,072 shares of the financial services provider’s stock valued at $6,301,056,000 after buying an additional 6,759,169 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Aflac by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 4,550,855 shares of the financial services provider’s stock worth $499,216,000 after buying an additional 67,650 shares in the last quarter. Norges Bank purchased a new position in Aflac during the fourth quarter worth $420,078,000. Amundi lifted its position in shares of Aflac by 22.6% in the first quarter. Amundi now owns 3,268,209 shares of the financial services provider’s stock valued at $358,555,000 after acquiring an additional 603,426 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Aflac by 161.9% during the first quarter. First Trust Advisors LP now owns 3,184,801 shares of the financial services provider’s stock valued at $349,405,000 after acquiring an additional 1,968,738 shares during the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Stock Performance

NYSE AFL opened at $121.74 on Wednesday. The business’s 50-day moving average price is $121.60 and its 200 day moving average price is $116.04. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a twelve month low of $104.66 and a twelve month high of $130.22. The company has a market capitalization of $61.03 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.75 EPS for the quarter, missing the consensus estimate of $1.76 by ($0.01). The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Aflac had a net margin of 26.91% and a return on equity of 13.27%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. On average, research analysts predict that Aflac Incorporated will post 7.04 earnings per share for the current year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.44 annualized dividend and a yield of 2.0%. Aflac’s dividend payout ratio is 26.15%.

Analysts Set New Price Targets

AFL has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a $108.00 price objective (up from $100.00) on shares of Aflac in a research report on Friday, July 10th. Keefe, Bruyette & Woods raised their price target on shares of Aflac from $120.00 to $125.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 11th. Morgan Stanley lifted their price target on shares of Aflac from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. UBS Group reissued a “neutral” rating and issued a $124.00 price objective (up from $114.00) on shares of Aflac in a research report on Wednesday, July 8th. Finally, TD Cowen reissued a “hold” rating and set a $110.00 price objective (up from $101.00) on shares of Aflac in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Aflac presently has an average rating of “Hold” and a consensus target price of $117.58.

Insider Buying and Selling

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $118.12, for a total transaction of $7,441,560.00. Following the transaction, the insider owned 51,169,435 shares of the company’s stock, valued at $6,044,133,662.20. This trade represents a 0.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 523,833 shares of company stock worth $61,339,113 over the last ninety days. Corporate insiders own 0.80% of the company’s stock.

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.