Summit Wealth Group LLC Co. Makes New $1.44 Million Investment in Aflac Incorporated $AFL

Summit Wealth Group LLC Co. bought a new position in Aflac Incorporated (NYSE:AFL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,068 shares of the financial services provider’s stock, valued at approximately $1,441,000.

Other hedge funds have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in shares of Aflac during the second quarter valued at approximately $33,000. Activest Wealth Management increased its holdings in shares of Aflac by 95.6% during the fourth quarter. Activest Wealth Management now owns 311 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 152 shares in the last quarter. Westside Investment Management Inc. increased its holdings in shares of Aflac by 100.0% during the third quarter. Westside Investment Management Inc. now owns 324 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 162 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in shares of Aflac during the fourth quarter valued at approximately $44,000. Finally, JCIC Asset Management Inc. bought a new stake in shares of Aflac during the third quarter valued at approximately $45,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Trading Up 0.6%

Shares of Aflac stock opened at $116.20 on Wednesday. The stock has a fifty day simple moving average of $111.53 and a 200 day simple moving average of $111.10. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $119.32. The company has a market capitalization of $59.14 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 2.01 and a beta of 0.62. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.26.

Aflac (NYSE:AFL) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.05). Aflac had a return on equity of 13.88% and a net margin of 25.60%.The company had revenue of $4.24 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter last year, the company posted $1.66 EPS. The company’s quarterly revenue was up 27.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Aflac Incorporated will post 7.12 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th will be given a $0.61 dividend. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $2.44 annualized dividend and a yield of 2.1%. Aflac’s payout ratio is currently 27.70%.

Insiders Place Their Bets

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $112.38, for a total value of $18,655,080.00. Following the transaction, the insider owned 51,723,100 shares of the company’s stock, valued at approximately $5,812,641,978. The trade was a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 573,475 shares of company stock valued at $63,610,696 over the last 90 days. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AFL has been the subject of several recent research reports. Barclays set a $99.00 price objective on Aflac and gave the company an “underweight” rating in a report on Thursday, April 30th. Mizuho set a $104.00 price objective on Aflac in a report on Monday, May 4th. Evercore upgraded Aflac from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 9th. Piper Sandler decreased their price objective on Aflac from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Finally, Wells Fargo & Company decreased their price objective on Aflac from $116.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $111.36.

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.