Patriot Financial Group Insurance Agency LLC Has $828,000 Position in Aflac Incorporated $AFL

Patriot Financial Group Insurance Agency LLC lifted its stake in shares of Aflac Incorporated (NYSE:AFL) by 130.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,546 shares of the financial services provider’s stock after purchasing an additional 4,275 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Aflac were worth $828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. DNB Asset Management AS raised its position in Aflac by 51.3% in the fourth quarter. DNB Asset Management AS now owns 168,003 shares of the financial services provider’s stock valued at $18,526,000 after purchasing an additional 56,975 shares during the last quarter. BIP Wealth LLC grew its holdings in shares of Aflac by 348.3% during the fourth quarter. BIP Wealth LLC now owns 55,723 shares of the financial services provider’s stock worth $6,145,000 after purchasing an additional 43,293 shares during the last quarter. Employees Retirement System of Texas bought a new stake in shares of Aflac during the fourth quarter worth about $3,743,000. Nordea Investment Management AB increased its stake in shares of Aflac by 5.5% in the fourth quarter. Nordea Investment Management AB now owns 1,866,471 shares of the financial services provider’s stock valued at $206,712,000 after buying an additional 97,766 shares during the period. Finally, Dorato Capital Management acquired a new position in shares of Aflac in the fourth quarter valued at approximately $20,865,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Aflac Price Performance

Shares of NYSE AFL opened at $117.22 on Wednesday. The company has a market capitalization of $59.66 billion, a PE ratio of 13.31, a P/E/G ratio of 2.10 and a beta of 0.61. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. Aflac Incorporated has a twelve month low of $96.95 and a twelve month high of $120.29. The firm has a fifty day simple moving average of $116.01 and a 200 day simple moving average of $112.69.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.05). Aflac had a net margin of 25.60% and a return on equity of 13.88%. The firm had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the company posted $1.66 EPS. The business’s revenue was up 27.9% compared to the same quarter last year. On average, sell-side analysts forecast that Aflac Incorporated will post 7.09 EPS for the current year.

Aflac Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 20th were given a dividend of $0.61 per share. The ex-dividend date was Wednesday, May 20th. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. Aflac’s dividend payout ratio is presently 27.70%.

Analyst Ratings Changes

AFL has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Aflac from $116.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 5th. UBS Group dropped their price target on shares of Aflac from $116.00 to $114.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Keefe, Bruyette & Woods lifted their price target on shares of Aflac from $113.00 to $115.00 and gave the stock a “market perform” rating in a report on Friday, April 10th. Barclays set a $99.00 price objective on shares of Aflac and gave the stock an “underweight” rating in a research note on Thursday, April 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $130.00 price objective (up from $125.00) on shares of Aflac in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $112.27.

Insider Activity at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 12,370 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $116.54, for a total transaction of $1,441,599.80. Following the transaction, the director directly owned 33,310 shares in the company, valued at approximately $3,881,947.40. This represents a 27.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $116.71, for a total transaction of $3,249,789.95. Following the sale, the insider directly owned 50,898,490 shares of the company’s stock, valued at approximately $5,940,362,767.90. This trade represents a 0.05% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,062,871 shares of company stock valued at $122,790,124 in the last ninety days. 0.80% of the stock is currently owned by insiders.

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.