Joseph Moskowitz Sells 600 Shares of Aflac (NYSE:AFL) Stock

Aflac Incorporated (NYSE:AFL) Director Joseph Moskowitz sold 600 shares of Aflac stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $124.10, for a total value of $74,460.00. Following the transaction, the director owned 32,710 shares of the company’s stock, valued at $4,059,311. This represents a 1.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aflac Price Performance

Shares of NYSE:AFL opened at $121.09 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.11 and a current ratio of 0.12. The business’s fifty day moving average price is $121.30 and its two-hundred day moving average price is $115.78. The stock has a market cap of $60.71 billion, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.95 and a beta of 0.60. Aflac Incorporated has a one year low of $104.66 and a one year high of $130.22.

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

Aflac Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a $0.61 dividend. 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 payout ratio is presently 26.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and set a $108.00 price target (up from $100.00) on shares of Aflac in a research note on Friday, July 10th. Keefe, Bruyette & Woods boosted their price objective on shares of Aflac from $120.00 to $125.00 and gave the company a “market perform” rating in a research report on Tuesday. Piper Sandler reissued an “overweight” rating and set a $138.00 price objective (up from $130.00) on shares of Aflac in a research note on Monday. Wells Fargo & Company raised their target price on shares of Aflac from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, Barclays reaffirmed an “underweight” rating and issued a $99.00 target price (up from $98.00) on shares of Aflac in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $117.58.

Institutional Trading of Aflac

Hedge funds have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new position in shares of Aflac during the 1st quarter worth about $25,000. Groupe la Francaise purchased a new stake in Aflac in the first quarter valued at approximately $25,000. Quarry LP purchased a new stake in Aflac in the fourth quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Aflac during the second quarter worth approximately $27,000. Finally, Nalls Sherbakoff Group LLC acquired a new position in Aflac during the fourth quarter worth approximately $29,000. 67.44% of the stock is owned by institutional investors and hedge funds.

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.