Norges Bank Acquires Shares of 2,397,817 Aflac Incorporated (NYSE:AFL)

Norges Bank bought a new position in shares of Aflac Incorporated (NYSE:AFLFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,397,817 shares of the financial services provider’s stock, valued at approximately $197,820,000. Norges Bank owned 0.41% of Aflac as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new position in shares of Aflac in the 4th quarter valued at approximately $25,000. Bruce G. Allen Investments LLC purchased a new position in Aflac in the 4th quarter valued at $32,000. Criterion Capital Advisors LLC acquired a new position in Aflac in the 4th quarter valued at $33,000. Arlington Trust Co LLC purchased a new position in Aflac during the 4th quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Aflac in the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Insider Buying and Selling at Aflac

In other news, SVP Albert Riggieri sold 8,000 shares of Aflac stock in a transaction 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 owns 32,825 shares of the company’s stock, valued at $2,735,635.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Joseph L. Moskowitz sold 600 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the completion of the sale, the director now owns 27,550 shares in the company, valued at approximately $2,337,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Albert Riggieri sold 8,000 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $83.34, for a total transaction of $666,720.00. Following the completion of the transaction, the senior vice president now directly owns 32,825 shares in the company, valued at approximately $2,735,635.50. The disclosure for this sale can be found here. In the last three months, insiders sold 13,600 shares of company stock worth $1,140,724. Insiders own 0.80% of the company’s stock.

Aflac Price Performance

AFL stock opened at $87.67 on Thursday. The stock’s 50 day moving average price is $84.44 and its 200 day moving average price is $82.60. The firm has a market cap of $49.82 billion, a P/E ratio of 9.68, a PEG ratio of 2.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.08 and a current ratio of 0.08. Aflac Incorporated has a 1 year low of $64.10 and a 1 year high of $88.59.

Aflac (NYSE:AFLGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $4.09 billion. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.55 earnings per share. On average, sell-side analysts expect that Aflac Incorporated will post 6.46 earnings per share for the current fiscal year.

Aflac Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 22nd will be paid a $0.50 dividend. This is a boost from Aflac’s previous quarterly dividend of $0.42. This represents a $2.00 annualized dividend and a yield of 2.28%. The ex-dividend date is Tuesday, May 21st. Aflac’s payout ratio is presently 22.08%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AFL shares. Truist Financial boosted their price target on shares of Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods raised their price target on Aflac from $83.00 to $87.00 and gave the company a “market perform” rating in a report on Wednesday, April 10th. StockNews.com upgraded Aflac from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Wells Fargo & Company increased their price objective on Aflac from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, May 10th. Finally, Morgan Stanley boosted their target price on shares of Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $82.38.

Get Our Latest Stock Report on AFL

About Aflac

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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