Prime Capital Investment Advisors LLC Reduces Stock Position in Aflac Incorporated $AFL

Prime Capital Investment Advisors LLC lowered its stake in Aflac Incorporated (NYSE:AFL) by 21.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 17,284 shares of the financial services provider’s stock after selling 4,655 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Aflac were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. AG2R LA Mondiale Gestion D Actifs bought a new position in Aflac in the first quarter worth approximately $2,070,000. Belpointe Asset Management LLC bought a new position in Aflac in the first quarter worth approximately $551,000. Golden State Wealth Management LLC raised its position in Aflac by 121.9% in the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 167 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in Aflac by 11.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 32,982 shares of the financial services provider’s stock worth $3,478,000 after acquiring an additional 3,484 shares during the period. Finally, Strs Ohio bought a new position in Aflac in the first quarter worth approximately $2,626,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Stock Performance

Shares of NYSE AFL opened at $111.87 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $59.83 billion, a P/E ratio of 25.37, a P/E/G ratio of 3.13 and a beta of 0.86. The firm’s fifty day moving average is $107.06 and its two-hundred day moving average is $105.50. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $115.44.

Aflac (NYSE:AFL) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.71 by $0.07. The company had revenue of $4.16 billion for the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 15.32% and a return on equity of 15.08%. Aflac’s revenue for the quarter was down 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.83 EPS. As a group, analysts anticipate that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Wednesday, August 20th were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Wednesday, August 20th. Aflac’s payout ratio is currently 52.61%.

Aflac announced that its Board of Directors has initiated a share repurchase plan on Tuesday, August 12th that authorizes the company to repurchase 100,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AFL shares. Wells Fargo & Company increased their price target on shares of Aflac from $105.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Monday, August 11th. Piper Sandler set a $125.00 price target on shares of Aflac and gave the stock an “overweight” rating in a research report on Tuesday. UBS Group decreased their price objective on shares of Aflac from $114.00 to $111.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Barclays restated an “underweight” rating and set a $102.00 price objective (up from $100.00) on shares of Aflac in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $110.17.

Insider Transactions at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction on Friday, August 8th. The shares were sold at an average price of $102.57, for a total value of $102,570.00. Following the sale, the director directly owned 25,105 shares in the company, valued at approximately $2,575,019.85. The trade was a 3.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Aflac 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.