New York State Common Retirement Fund Decreases Stock Position in Aflac Incorporated $AFL

New York State Common Retirement Fund trimmed its holdings in Aflac Incorporated (NYSE:AFL) by 9.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 569,471 shares of the financial services provider’s stock after selling 56,421 shares during the period. New York State Common Retirement Fund’s holdings in Aflac were worth $63,610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AFL. Traynor Capital Management Inc. acquired a new stake in shares of Aflac in the third quarter valued at approximately $213,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Aflac by 12.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,976 shares of the financial services provider’s stock valued at $10,162,000 after buying an additional 9,878 shares in the last quarter. Ballentine Partners LLC lifted its stake in Aflac by 2.0% in the 3rd quarter. Ballentine Partners LLC now owns 24,548 shares of the financial services provider’s stock valued at $2,742,000 after buying an additional 493 shares in the last quarter. Federated Hermes Inc. grew its holdings in Aflac by 11.2% during the 3rd quarter. Federated Hermes Inc. now owns 324,298 shares of the financial services provider’s stock valued at $36,224,000 after buying an additional 32,642 shares during the last quarter. Finally, AGP Franklin LLC increased its position in Aflac by 9.1% during the third quarter. AGP Franklin LLC now owns 18,276 shares of the financial services provider’s stock worth $2,041,000 after buying an additional 1,531 shares in the last quarter. Institutional investors and hedge funds own 67.44% of the company’s stock.

Aflac Price Performance

AFL opened at $110.45 on Friday. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $115.83. The company’s 50 day simple moving average is $109.74 and its 200 day simple moving average is $108.14. The stock has a market capitalization of $57.89 billion, a PE ratio of 14.42, a P/E/G ratio of 3.22 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.11 and a current ratio of 0.11.

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

Aflac Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be given a $0.61 dividend. This is an increase from Aflac’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $2.44 annualized dividend and a dividend yield of 2.2%. Aflac’s dividend payout ratio is 30.29%.

Insider Transactions at Aflac

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $114.00, for a total value of $114,000.00. Following the transaction, the director directly owned 23,615 shares in the company, valued at $2,692,110. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Audrey B. Tillman sold 15,862 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 230,688 shares of the company’s stock, valued at $25,837,056. The trade was a 6.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,766 shares of company stock worth $3,549,706 over the last ninety days. 0.90% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on AFL shares. Mizuho initiated coverage on Aflac in a research report on Tuesday, December 16th. They issued an “underperform” rating and a $104.00 price objective on the stock. Weiss Ratings reissued a “buy (b+)” rating on shares of Aflac in a research note on Monday, December 22nd. Morgan Stanley set a $120.00 price target on shares of Aflac in a research note on Monday, December 15th. Wells Fargo & Company lifted their price target on shares of Aflac from $107.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Finally, Barclays set a $101.00 price objective on shares of Aflac and gave the company an “underweight” rating in a research report on Thursday, January 8th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $110.64.

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.