Weiss Asset Management LP Boosts Stock Position in Aflac Incorporated $AFL

Weiss Asset Management LP raised its holdings in Aflac Incorporated (NYSE:AFL) by 1,190.0% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,685 shares of the financial services provider’s stock after acquiring an additional 102,105 shares during the quarter. Weiss Asset Management LP’s holdings in Aflac were worth $12,143,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of AFL. OMERS ADMINISTRATION Corp increased its position in shares of Aflac by 26.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 24,954 shares of the financial services provider’s stock worth $2,738,000 after acquiring an additional 5,180 shares during the period. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Aflac in the first quarter valued at approximately $750,000. Waverly Advisors LLC boosted its holdings in shares of Aflac by 11.4% in the first quarter. Waverly Advisors LLC now owns 21,614 shares of the financial services provider’s stock valued at $2,371,000 after purchasing an additional 2,206 shares during the period. Renaissance Technologies LLC grew its stake in Aflac by 382.1% in the first quarter. Renaissance Technologies LLC now owns 667,700 shares of the financial services provider’s stock worth $73,253,000 after purchasing an additional 529,200 shares in the last quarter. Finally, Hilltop Holdings Inc. bought a new position in Aflac in the first quarter worth approximately $444,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Performance

Shares of AFL stock opened at $125.61 on Friday. The firm has a market cap of $63.93 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.94 and a beta of 0.61. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $125.93. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $118.64 and its 200 day moving average is $114.19.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.05). The company had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Aflac had a return on equity of 13.88% and a net margin of 25.60%.The firm’s quarterly revenue was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. On average, sell-side analysts anticipate that Aflac Incorporated will post 7.06 EPS for the current fiscal year.

Aflac Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 20th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, May 20th. Aflac’s dividend payout ratio is 27.70%.

Insiders Place Their Bets

In related news, Director Joseph L. Moskowitz sold 12,370 shares of the firm’s stock in a transaction dated 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 sale, the director owned 33,310 shares of the company’s stock, valued at $3,881,947.40. This trade represents a 27.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of Aflac stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $116.71, for a total value of $3,249,789.95. Following the completion of the transaction, the insider owned 50,898,490 shares in the company, valued at $5,940,362,767.90. This trade represents a 0.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 744,916 shares of company stock valued at $87,118,632 over the last 90 days. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AFL shares. JPMorgan Chase & Co. lifted their target price on Aflac from $108.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Wells Fargo & Company increased their price target on Aflac from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Mizuho set a $112.00 price target on Aflac in a research note on Thursday, July 9th. Keefe, Bruyette & Woods lifted their price objective on Aflac from $115.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Aflac from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $116.17.

Aflac Company Profile

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.