Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in Aflac Incorporated (NYSE:AFL)

by · The Markets Daily

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Aflac Incorporated (NYSE:AFL – Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,391 shares of the financial services provider’s stock after purchasing an additional 578 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Aflac were worth $6,715,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AFL. Norges Bank purchased a new position in shares of Aflac in the 4th quarter worth about $349,699,000. Raymond James Financial Inc. purchased a new stake in Aflac during the fourth quarter worth about $163,409,000. GAMMA Investing LLC raised its position in Aflac by 12,313.9% in the first quarter. GAMMA Investing LLC now owns 1,504,067 shares of the financial services provider’s stock worth $167,237,000 after acquiring an additional 1,491,951 shares during the period. Northern Trust Corp boosted its stake in Aflac by 22.9% in the fourth quarter. Northern Trust Corp now owns 7,296,014 shares of the financial services provider’s stock valued at $754,700,000 after acquiring an additional 1,357,753 shares during the last quarter. Finally, Amundi boosted its stake in Aflac by 81.1% in the fourth quarter. Amundi now owns 2,753,513 shares of the financial services provider’s stock valued at $285,181,000 after acquiring an additional 1,232,683 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.

Aflac Trading Down 2.1%

Shares of AFL opened at $103.51 on Thursday. Aflac Incorporated has a twelve month low of $88.00 and a twelve month high of $115.50. The stock has a market cap of $55.96 billion, a PE ratio of 16.17, a P/E/G ratio of 3.27 and a beta of 0.81. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.29. The business’s 50-day moving average price is $104.41 and its 200-day moving average price is $105.21.

Aflac (NYSE:AFL – Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $1.66 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.01). Aflac had a net margin of 21.27% and a return on equity of 15.55%. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period in the prior year, the firm posted $1.66 EPS. Aflac’s revenue was down 37.5% on a year-over-year basis. On average, equities analysts forecast that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Wednesday, May 21st were issued a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $2.32 annualized dividend and a dividend yield of 2.24%. Aflac’s payout ratio is currently 36.25%.

Wall Street Analyst Weigh In

AFL has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Aflac from $94.00 to $96.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 2nd. Wall Street Zen downgraded Aflac from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Raymond James Financial lowered their target price on Aflac from $115.00 to $110.00 and set an “outperform” rating on the stock in a research note on Thursday, May 29th. Wells Fargo & Company upped their price target on Aflac from $102.00 to $103.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, Morgan Stanley lifted their price objective on Aflac from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $106.50.

View Our Latest Research Report on AFL

Insider Buying and Selling

In other Aflac news, Director Masatoshi Koide sold 37,000 shares of the company’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $105.59, for a total value of $3,906,830.00. Following the transaction, the director directly owned 70,992 shares in the company, valued at $7,496,045.28. This represents a 34.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur Reginald Collins sold 2,750 shares of Aflac stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $105.70, for a total value of $290,675.00. Following the sale, the director owned 6,728 shares of the company’s stock, valued at approximately $711,149.60. This trade represents a 29.01% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,750 shares of company stock worth $4,304,295. Corporate insiders own 0.90% of the company’s stock.

About Aflac

(Free Report)

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.

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