Aflac Incorporated (NYSE:AFL) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank trimmed its stake in shares of Aflac Incorporated (NYSE:AFL) by 53.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 153,232 shares of the financial services provider’s stock after selling 179,451 shares during the quarter. Toronto Dominion Bank’s holdings in Aflac were worth $13,685,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ieq Capital LLC lifted its stake in Aflac by 0.5% during the second quarter. Ieq Capital LLC now owns 21,775 shares of the financial services provider’s stock valued at $1,945,000 after buying an additional 101 shares in the last quarter. Forum Financial Management LP lifted its position in shares of Aflac by 1.3% in the 2nd quarter. Forum Financial Management LP now owns 8,337 shares of the financial services provider’s stock valued at $745,000 after acquiring an additional 107 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in Aflac by 0.5% in the 2nd quarter. Evergreen Capital Management LLC now owns 21,743 shares of the financial services provider’s stock worth $1,942,000 after purchasing an additional 116 shares during the period. TriaGen Wealth Management LLC grew its position in Aflac by 3.6% during the 2nd quarter. TriaGen Wealth Management LLC now owns 3,377 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 117 shares in the last quarter. Finally, Graypoint LLC raised its stake in Aflac by 2.0% during the 2nd quarter. Graypoint LLC now owns 5,988 shares of the financial services provider’s stock valued at $535,000 after purchasing an additional 118 shares during the period. Institutional investors and hedge funds own 67.44% of the company’s stock.

Wall Street Analysts Forecast Growth

AFL has been the topic of a number of research analyst reports. UBS Group lifted their price target on Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Bank of America raised their price target on shares of Aflac from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. upped their target price on Aflac from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Evercore ISI boosted their price objective on shares of Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday. Finally, Citigroup upped their price objective on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.36.

Insider Buying and Selling at Aflac

In other news, Director Thomas J. Kenny sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total value of $197,880.00. Following the completion of the transaction, the director now directly owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

Aflac Stock Performance

AFL opened at $110.59 on Friday. The stock has a market cap of $62.84 billion, a PE ratio of 12.21, a P/E/G ratio of 2.60 and a beta of 0.95. Aflac Incorporated has a 1 year low of $74.89 and a 1 year high of $111.14. The stock’s 50 day simple moving average is $104.15 and its 200-day simple moving average is $92.65. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the company posted $1.58 EPS. The business’s revenue was down .7% on a year-over-year basis. Sell-side analysts forecast that Aflac Incorporated will post 6.75 EPS for the current year.

Aflac Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend was Wednesday, August 21st. Aflac’s dividend payout ratio is 22.08%.

Aflac Company Profile

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.