Pinnacle West Asset Management Inc. Has $832,000 Stake in Aflac Incorporated $AFL

Pinnacle West Asset Management Inc. trimmed its position in shares of Aflac Incorporated (NYSE:AFL) by 1.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,890 shares of the financial services provider’s stock after selling 130 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Aflac were worth $832,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. AlphaCore Capital LLC bought a new stake in Aflac during the first quarter worth $28,000. Hilltop National Bank bought a new stake in Aflac during the second quarter worth $32,000. Golden State Wealth Management LLC grew its holdings in Aflac by 121.9% during the first quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock worth $34,000 after buying an additional 167 shares in the last quarter. Groupe la Francaise bought a new stake in Aflac during the first quarter worth $34,000. Finally, Garde Capital Inc. bought a new stake in Aflac during the first quarter worth $36,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Aflac

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the transaction, the director owned 25,105 shares in the company, valued at approximately $2,575,019.85. This represents a 3.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Aflac Stock Down 0.4%

AFL stock opened at $110.78 on Friday. 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 capitalization of $59.25 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 3.08 and a beta of 0.86. Aflac Incorporated has a fifty-two week low of $96.95 and a fifty-two week high of $115.44. The stock has a fifty day moving average of $107.55 and a 200-day moving average of $105.52.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share for the quarter. The company had revenue of $5.91 billion during the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. As a group, equities research analysts predict that Aflac Incorporated will post 6.88 earnings per share for the current year.

Aflac announced that its Board of Directors has initiated a share repurchase program on Tuesday, August 12th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Aflac Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Aflac from $105.00 to $107.00 and gave the stock an “equal weight” rating in a report on Monday, August 11th. Wall Street Zen upgraded Aflac from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Evercore ISI set a $110.00 price objective on Aflac and gave the company an “underperform” rating in a research note on Thursday. Piper Sandler set a $125.00 price objective on Aflac and gave the company an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Aflac in a research note on Wednesday. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.45.

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.