Corient Private Wealth LP Invests $62.62 Million in Aflac Incorporated $AFL

Corient Private Wealth LP bought a new stake in shares of Aflac Incorporated (NYSE:AFL) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 534,110 shares of the financial services provider’s stock, valued at approximately $62,624,000.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Aflac by 64.4% in the 4th quarter. Brighton Jones LLC now owns 14,570 shares of the financial services provider’s stock worth $1,507,000 after acquiring an additional 5,708 shares during the last quarter. Bison Wealth LLC increased its holdings in Aflac by 4.3% during the 4th quarter. Bison Wealth LLC now owns 4,402 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 183 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Aflac during the second quarter valued at $280,000. Sei Investments Co. raised its holdings in shares of Aflac by 11.2% in the 2nd quarter. Sei Investments Co. now owns 150,334 shares of the financial services provider’s stock valued at $15,854,000 after purchasing an additional 15,105 shares in the last quarter. Finally, Main Street Financial Solutions LLC raised its stake in Aflac by 1.6% in the second quarter. Main Street Financial Solutions LLC now owns 11,953 shares of the financial services provider’s stock worth $1,261,000 after buying an additional 192 shares in the last quarter. Institutional investors own 67.44% of the company’s stock.

Insider Activity

In related news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $118.12, for a total value of $7,441,560.00. Following the completion of the sale, the insider owned 51,169,435 shares in the company, valued at $6,044,133,662.20. This trade represents a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 502,125 shares of company stock worth $58,965,806 in the last quarter. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of Aflac from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, August 21st. Morgan Stanley increased their price objective on shares of Aflac from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Barclays reaffirmed an “underweight” rating and set a $99.00 target price (up from $98.00) on shares of Aflac in a report on Friday, August 7th. UBS Group reaffirmed a “neutral” rating and issued a $124.00 price objective (up from $114.00) on shares of Aflac in a report on Wednesday, July 8th. Finally, Wells Fargo & Company set a $122.00 target price on Aflac and gave the stock an “equal weight” rating in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $116.62.

Aflac Stock Down 0.9%

Shares of AFL opened at $116.45 on Friday. The company’s 50-day moving average price is $121.60 and its 200 day moving average price is $116.21. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 12-month low of $104.66 and a 12-month high of $130.22. The firm has a market cap of $58.38 billion, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.89 and a beta of 0.60.

Aflac (NYSE:AFL) last released its earnings results on Thursday, August 6th. The financial services provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.76 by ($0.01). The firm had revenue of $4.22 billion during the quarter, compared to analyst estimates of $4.11 billion. Aflac had a net margin of 26.91% and a return on equity of 13.27%. The business’s revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.78 earnings per share. On average, sell-side analysts forecast that Aflac Incorporated will post 7.04 earnings per share for the current year.

Aflac Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th will be paid a dividend of $0.61 per share. The ex-dividend date is Wednesday, August 19th. This represents a $2.44 dividend on an annualized basis and a yield of 2.1%. Aflac’s dividend payout ratio is currently 26.15%.

Aflac 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.