Peninsula Asset Management Inc. Sells 620 Shares of Aflac Incorporated (NYSE:AFL)

Peninsula Asset Management Inc. reduced its position in shares of Aflac Incorporated (NYSE:AFL) by 1.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,289 shares of the financial services provider’s stock after selling 620 shares during the period. Aflac makes up about 3.8% of Peninsula Asset Management Inc.’s portfolio, making the stock its 9th biggest holding. Peninsula Asset Management Inc.’s holdings in Aflac were worth $6,926,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC boosted its position in shares of Aflac by 121.9% in the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 167 shares during the period. Garde Capital Inc. acquired a new stake in Aflac in the 1st quarter worth about $36,000. Meeder Asset Management Inc. boosted its holdings in Aflac by 90.8% in the 1st quarter. Meeder Asset Management Inc. now owns 330 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 157 shares during the period. Capital A Wealth Management LLC acquired a new position in shares of Aflac during the 4th quarter worth approximately $38,000. Finally, NBC Securities Inc. bought a new position in shares of Aflac during the first quarter worth approximately $44,000. 67.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AFL shares. Wall Street Zen downgraded Aflac from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Morgan Stanley upped their price objective on shares of Aflac from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. Piper Sandler raised their target price on shares of Aflac from $118.00 to $124.00 and gave the company an “overweight” rating in a report on Wednesday, April 2nd. Barclays set a $98.00 price target on shares of Aflac and gave the stock an “underweight” rating in a report on Monday, July 7th. Finally, Wells Fargo & Company increased their price target on shares of Aflac from $103.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Aflac currently has a consensus rating of “Hold” and an average price target of $108.15.

Insiders Place Their Bets

In other Aflac news, Director Masatoshi Koide sold 37,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $105.59, for a total value of $3,906,830.00. Following the completion of the transaction, the director directly owned 70,992 shares in the company, valued at approximately $7,496,045.28. This represents a 34.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Arthur Reginald Collins sold 2,750 shares of Aflac stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $105.70, for a total transaction of $290,675.00. Following the transaction, the director owned 6,728 shares in the company, valued at approximately $711,149.60. This trade represents a 29.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,750 shares of company stock valued at $4,304,295 in the last ninety days. 0.90% of the stock is currently owned by insiders.

Aflac Price Performance

Aflac stock opened at $98.57 on Thursday. The stock has a 50-day moving average price of $102.73 and a two-hundred day moving average price of $105.11. Aflac Incorporated has a 12 month low of $94.87 and a 12 month high of $115.50. The company has a market capitalization of $53.29 billion, a PE ratio of 15.40, a P/E/G ratio of 3.11 and a beta of 0.81. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.01). Aflac had a net margin of 21.27% and a return on equity of 15.55%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the company earned $1.66 EPS. The business’s quarterly revenue was down 37.5% compared to the same quarter last year. Analysts expect that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac Company Profile

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.