Geneos Wealth Management Inc. Sells 8,379 Shares of Aflac Incorporated $AFL

by · The Markets Daily

Geneos Wealth Management Inc. decreased its stake in shares of Aflac Incorporated (NYSE:AFL – Free Report) by 76.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,642 shares of the financial services provider’s stock after selling 8,379 shares during the period. Geneos Wealth Management Inc.’s holdings in Aflac were worth $290,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in shares of Aflac during the 1st quarter valued at $25,000. Quarry LP bought a new stake in Aflac in the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC bought a new stake in Aflac in the fourth quarter valued at $29,000. Navalign LLC acquired a new position in shares of Aflac during the fourth quarter valued at about $32,000. Finally, Darwin Wealth Management LLC acquired a new position in shares of Aflac during the second quarter valued at about $33,000. Institutional investors own 67.44% of the company’s stock.

Insider Activity at Aflac

In related news, Director Joseph L. Moskowitz sold 12,370 shares of the company’s stock in a transaction on 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 completion of the sale, the director owned 33,310 shares in the company, valued at approximately $3,881,947.40. This represents a 27.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of the stock in a transaction on 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 sale, the insider directly owned 50,898,490 shares of the company’s stock, valued at $5,940,362,767.90. The trade was a 0.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 744,916 shares of company stock valued at $87,118,632. Company insiders own 0.80% of the company’s stock.

Aflac Stock Down 0.6%

Shares of NYSE AFL opened at $123.34 on Wednesday. The stock has a market capitalization of $62.78 billion, a P/E ratio of 14.00, a P/E/G ratio of 1.91 and a beta of 0.61. The company has a 50-day moving average price of $118.14 and a 200-day moving average price of $113.92. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $125.93. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.11 and a quick ratio of 0.11.

Aflac (NYSE:AFL – Get Free Report) 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). Aflac had a return on equity of 13.88% and a net margin of 25.60%.The business had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the company earned $1.66 EPS. The company’s revenue was up 27.9% on a year-over-year basis. On average, equities research analysts forecast that Aflac Incorporated will post 7.07 EPS for the current fiscal year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Wednesday, May 20th. Aflac’s payout ratio is currently 27.70%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AFL shares. Wells Fargo & Company increased their price objective on shares of Aflac from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Piper Sandler reaffirmed an “overweight” rating and set a $130.00 price target (up from $125.00) on shares of Aflac in a research note on Tuesday, May 26th. Weiss Ratings lowered Aflac from a “buy (a-)” rating to a “buy (b+)” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price objective on Aflac from $108.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group restated a “hold” rating and set a $108.00 price objective (up from $100.00) on shares of Aflac in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Aflac currently has a consensus rating of “Hold” and a consensus target price of $115.50.

Get Our Latest Stock Analysis on AFL

About Aflac

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding AFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aflac Incorporated (NYSE:AFL – Free Report).