Intech Investment Management LLC Reduces Holdings in Aflac Incorporated $AFL

Intech Investment Management LLC lowered its position in shares of Aflac Incorporated (NYSE:AFL) by 55.7% during the third quarter, Holdings Channel reports. The firm owned 52,175 shares of the financial services provider’s stock after selling 65,497 shares during the quarter. Intech Investment Management LLC’s holdings in Aflac were worth $5,828,000 as of its most recent filing with the SEC.

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

Aflac Price Performance

Aflac stock opened at $112.75 on Friday. The company has a market cap of $58.22 billion, a P/E ratio of 16.39, a price-to-earnings-growth ratio of 3.71 and a beta of 0.67. Aflac Incorporated has a one year low of $96.95 and a one year high of $119.32. The business has a fifty day moving average of $111.52 and a two-hundred day moving average of $110.03. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.11.

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

Analyst Ratings Changes

A number of research analysts have commented on AFL shares. JPMorgan Chase & Co. lifted their price objective on shares of Aflac from $101.00 to $105.00 and gave the company a “neutral” rating in a research note on Monday, January 5th. Mizuho set a $107.00 price target on Aflac in a research report on Monday, February 9th. Wall Street Zen downgraded Aflac from a “hold” rating to a “sell” rating in a research note on Saturday. Evercore lifted their target price on Aflac from $110.00 to $111.00 and gave the company an “underperform” rating in a research note on Friday, November 7th. Finally, Wells Fargo & Company boosted their target price on Aflac from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $111.73.

Insider Transactions at Aflac

In other news, EVP Steven Kent Beaver sold 7,387 shares of Aflac stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $113.58, for a total transaction of $839,015.46. Following the completion of the sale, the executive vice president directly owned 40,526 shares in the company, valued at approximately $4,602,943.08. This trade represents a 15.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 16,331 shares of company stock valued at $1,817,720 over the last three months. Company insiders own 0.90% 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.