Cullinan Associates Inc. Raises Stock Holdings in Aflac Incorporated $AFL

Cullinan Associates Inc. lifted its holdings in Aflac Incorporated (NYSE:AFL) by 8.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 137,969 shares of the financial services provider’s stock after purchasing an additional 10,719 shares during the quarter. Aflac accounts for approximately 1.0% of Cullinan Associates Inc.’s investment portfolio, making the stock its 26th largest position. Cullinan Associates Inc.’s holdings in Aflac were worth $15,411,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Aflac by 11.9% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 93,449 shares of the financial services provider’s stock worth $9,856,000 after acquiring an additional 9,907 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in Aflac by 14.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 222,694 shares of the financial services provider’s stock worth $23,485,000 after purchasing an additional 28,190 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Aflac by 4.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 140,874 shares of the financial services provider’s stock worth $14,857,000 after purchasing an additional 6,400 shares during the last quarter. Assetmark Inc. boosted its position in shares of Aflac by 8.2% during the second quarter. Assetmark Inc. now owns 1,652,500 shares of the financial services provider’s stock valued at $174,273,000 after buying an additional 124,706 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Aflac by 16.7% during the second quarter. Invesco Ltd. now owns 4,167,886 shares of the financial services provider’s stock valued at $439,545,000 after buying an additional 594,971 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Performance

AFL stock opened at $107.85 on Wednesday. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $115.83. The business has a 50-day moving average price of $110.66 and a 200 day moving average price of $107.74. The company has a market capitalization of $56.52 billion, a P/E ratio of 14.08, a PEG ratio of 3.19 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $2.49 EPS for the quarter, beating the consensus estimate of $1.77 by $0.72. Aflac had a net margin of 23.55% and a return on equity of 14.97%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The company’s quarterly revenue was up 59.4% compared to the same quarter last year. As a group, equities research analysts forecast that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Wednesday, February 18th will be issued a dividend of $0.61 per share. This is an increase from Aflac’s previous quarterly dividend of $0.58. This represents a $2.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Wednesday, February 18th. Aflac’s dividend payout ratio (DPR) is currently 30.29%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AFL. Keefe, Bruyette & Woods raised their price target on Aflac from $108.00 to $110.00 and gave the stock a “market perform” rating in a research note on Thursday, October 9th. Piper Sandler set a $125.00 target price on Aflac and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. TD Cowen boosted their target price on shares of Aflac from $100.00 to $102.00 and gave the company a “hold” rating in a research note on Monday, December 22nd. Mizuho assumed coverage on shares of Aflac in a research note on Tuesday, December 16th. They issued an “underperform” rating and a $104.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b+)” rating on shares of Aflac in a report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $110.67.

Insider Buying and Selling

In other news, EVP Audrey B. Tillman sold 15,862 shares of Aflac stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $112.00, for a total value of $1,776,544.00. Following the transaction, the executive vice president directly owned 230,688 shares in the company, valued at approximately $25,837,056. This trade represents a 6.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph L. Moskowitz sold 786 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $113.75, for a total value of $89,407.50. Following the sale, the director owned 24,829 shares of the company’s stock, valued at $2,824,298.75. This trade represents a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,766 shares of company stock worth $3,549,706 over the last quarter. Insiders own 0.80% of the company’s stock.

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.