Steel Grove Capital Advisors LLC Reduces Holdings in Aflac Incorporated $AFL

Steel Grove Capital Advisors LLC lessened its position in shares of Aflac Incorporated (NYSE:AFL) by 16.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 37,542 shares of the financial services provider’s stock after selling 7,532 shares during the quarter. Aflac accounts for 0.4% of Steel Grove Capital Advisors LLC’s holdings, making the stock its 27th largest holding. Steel Grove Capital Advisors LLC’s holdings in Aflac were worth $4,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Brighton Jones LLC boosted its holdings in Aflac by 64.4% in the 4th quarter. Brighton Jones LLC now owns 14,570 shares of the financial services provider’s stock worth $1,507,000 after buying an additional 5,708 shares during the period. Bison Wealth LLC boosted its holdings in Aflac by 4.3% in the 4th quarter. Bison Wealth LLC now owns 4,402 shares of the financial services provider’s stock worth $455,000 after buying an additional 183 shares during the period. WINTON GROUP Ltd bought a new position in Aflac in the 2nd quarter worth approximately $280,000. Sei Investments Co. boosted its holdings in Aflac by 11.2% in the 2nd quarter. Sei Investments Co. now owns 150,334 shares of the financial services provider’s stock worth $15,854,000 after buying an additional 15,105 shares during the period. Finally, Main Street Financial Solutions LLC boosted its holdings in Aflac by 1.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,953 shares of the financial services provider’s stock worth $1,261,000 after buying an additional 192 shares during the period. 67.44% of the stock is owned by institutional investors.

Aflac Trading Down 0.8%

Shares of Aflac stock opened at $116.89 on Wednesday. The company’s fifty day simple moving average is $112.81 and its 200-day simple moving average is $111.78. The stock has a market capitalization of $59.50 billion, a PE ratio of 13.27, a P/E/G ratio of 2.07 and a beta of 0.62. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $119.81. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.11 and a quick ratio of 0.11.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.05). The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Aflac had a return on equity of 13.88% and a net margin of 25.60%.The company’s revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.66 EPS. As a group, equities analysts anticipate that Aflac Incorporated will post 7.08 earnings per share for the current year.

Aflac Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Wednesday, May 20th. Aflac’s dividend payout ratio is presently 27.70%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods lifted their target price on Aflac from $113.00 to $115.00 and gave the company a “market perform” rating in a report on Friday, April 10th. 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 report on Tuesday, May 5th. Morgan Stanley boosted their price objective on shares of Aflac from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Weiss Ratings upgraded shares of Aflac from a “buy (b-)” rating to a “buy (a-)” rating in a report on Friday, May 15th. Finally, Barclays set a $99.00 price target on Aflac and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $112.27.

Insiders Place Their Bets

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 30,400 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $117.61, for a total transaction of $3,575,344.00. Following the completion of the sale, the insider owned 51,362,645 shares in the company, valued at approximately $6,040,760,678.45. This trade represents a 0.06% decrease in their ownership of the stock. The transaction 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. Also, Director Thomas J. Kenny sold 1,740 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $116.57, for a total value of $202,831.80. Following the completion of the transaction, the director owned 13,219 shares of the company’s stock, valued at $1,540,938.83. The trade was a 11.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 844,428 shares of company stock worth $95,391,275. Corporate insiders own 0.80% of the company’s stock.

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.