Riverhead Capital Management LLC reduced its stake in AFLAC Incorporated (NYSE:AFL) by 50.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 158,797 shares of the financial services provider’s stock after selling 164,670 shares during the period. Riverhead Capital Management LLC’s holdings in AFLAC were worth $7,475,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake in shares of AFLAC by 1.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 77,191 shares of the financial services provider’s stock valued at $3,321,000 after buying an additional 1,097 shares during the period. Abacus Planning Group Inc. increased its stake in shares of AFLAC by 21.4% during the third quarter. Abacus Planning Group Inc. now owns 6,602 shares of the financial services provider’s stock valued at $310,000 after buying an additional 1,166 shares during the period. IFP Advisors Inc increased its stake in shares of AFLAC by 21.5% during the third quarter. IFP Advisors Inc now owns 6,646 shares of the financial services provider’s stock valued at $313,000 after buying an additional 1,176 shares during the period. Novare Capital Management LLC increased its stake in shares of AFLAC by 1.1% during the third quarter. Novare Capital Management LLC now owns 111,532 shares of the financial services provider’s stock valued at $4,803,000 after buying an additional 1,184 shares during the period. Finally, Sawtooth Solutions LLC increased its stake in shares of AFLAC by 14.4% during the third quarter. Sawtooth Solutions LLC now owns 9,619 shares of the financial services provider’s stock valued at $453,000 after buying an additional 1,214 shares during the period. 66.77% of the stock is currently owned by institutional investors and hedge funds.
NYSE AFL opened at $44.29 on Wednesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.05 and a current ratio of 0.05. AFLAC Incorporated has a twelve month low of $41.41 and a twelve month high of $48.19. The company has a market cap of $34.82 billion, a P/E ratio of 13.03, a PEG ratio of 1.34 and a beta of 0.96.
The company also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Wednesday, November 21st were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 2.35%. AFLAC’s dividend payout ratio is presently 30.59%.
In related news, Director Douglas Wayne Johnson sold 2,000 shares of AFLAC stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $46.52, for a total transaction of $93,040.00. Following the sale, the director now directly owns 29,859 shares in the company, valued at $1,389,040.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph L. Moskowitz sold 1,500 shares of AFLAC stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $46.38, for a total value of $69,570.00. Following the sale, the director now owns 17,779 shares in the company, valued at $824,590.02. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.
AFL has been the topic of several research analyst reports. Morgan Stanley boosted their target price on AFLAC from $47.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, September 27th. Zacks Investment Research cut AFLAC from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Credit Suisse Group reduced their target price on AFLAC from $49.00 to $45.00 and set a “neutral” rating on the stock in a research note on Friday, August 17th. JPMorgan Chase & Co. reissued a “buy” rating on shares of AFLAC in a research note on Wednesday, October 3rd. Finally, ValuEngine cut AFLAC from a “sell” rating to a “strong sell” rating in a research note on Thursday, November 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company’s stock. AFLAC currently has an average rating of “Hold” and a consensus target price of $48.38.
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Aflac Incorporated, through its subsidiary, American Family Life Assurance Company of Columbus, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.
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