Aflac Incorporated $AFL Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its holdings in Aflac Incorporated (NYSE:AFL) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,921 shares of the financial services provider’s stock after selling 22,767 shares during the quarter. Korea Investment CORP owned approximately 0.06% of Aflac worth $37,411,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. True Wealth Design LLC boosted its position in shares of Aflac by 188.5% in the third quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in Aflac during the second quarter valued at about $33,000. Westside Investment Management Inc. grew its holdings in shares of Aflac by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 324 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 162 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Aflac during the 2nd quarter worth approximately $42,000. Finally, JCIC Asset Management Inc. purchased a new position in Aflac in the third quarter valued at approximately $45,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Stock Down 1.1%

NYSE AFL opened at $110.09 on Tuesday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a fifty-two week low of $96.95 and a fifty-two week high of $119.32. The business has a 50 day moving average price of $111.70 and a two-hundred day moving average price of $110.28. The stock has a market cap of $56.85 billion, a PE ratio of 16.00, a P/E/G ratio of 3.64 and a beta of 0.66.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.12). Aflac had a net margin of 21.24% and a return on equity of 14.35%. The firm had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter in the prior year, the business earned $1.57 EPS. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts predict that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 19,300 shares of Aflac stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $110.96, for a total transaction of $2,141,528.00. Following the sale, the insider owned 52,241,500 shares of the company’s stock, valued at $5,796,716,840. The trade was a 0.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Steven Kent Beaver sold 7,387 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $113.58, for a total transaction of $839,015.46. Following the completion of the transaction, the executive vice president owned 40,526 shares in the company, valued at $4,602,943.08. This represents a 15.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 32,179 shares of company stock valued at $3,582,082. Company insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

AFL has been the topic of a number of recent research reports. Wall Street Zen cut shares of Aflac from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Morgan Stanley set a $120.00 price objective on shares of Aflac in a research report on Monday, December 15th. Wells Fargo & Company lifted their target price on shares of Aflac from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. TD Cowen reaffirmed a “hold” rating on shares of Aflac in a research report on Monday, December 22nd. Finally, Barclays set a $101.00 price target on Aflac and gave the company an “underweight” rating in a report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $111.73.

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.