Core Alternative Capital Has $9.37 Million Stock Position in Aflac Incorporated (NYSE:AFL)

Core Alternative Capital cut its holdings in shares of Aflac Incorporated (NYSE:AFL) by 13.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,877 shares of the financial services provider’s stock after selling 16,910 shares during the period. Aflac accounts for approximately 1.9% of Core Alternative Capital’s holdings, making the stock its 11th biggest holding. Core Alternative Capital’s holdings in Aflac were worth $9,367,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of AFL. Y.D. More Investments Ltd bought a new position in Aflac in the second quarter valued at approximately $25,000. Atwood & Palmer Inc. grew its stake in shares of Aflac by 80.0% during the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 140 shares during the period. OFI Invest Asset Management bought a new stake in Aflac in the first quarter valued at about $29,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Aflac in the first quarter valued at about $34,000. Finally, Cedar Wealth Management LLC bought a new position in Aflac during the first quarter worth about $50,000. Institutional investors own 67.44% of the company’s stock.

Aflac Trading Up 0.5 %

NYSE:AFL opened at $110.59 on Monday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a twelve month low of $74.89 and a twelve month high of $111.14. The company has a market cap of $62.84 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95. The business has a 50 day moving average price of $104.50 and a two-hundred day moving average price of $92.98.

Aflac (NYSE:AFL) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share 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 business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, analysts expect that Aflac Incorporated will post 6.75 EPS for the current fiscal year.

Aflac Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AFL. Wells Fargo & Company upped their price target on Aflac from $81.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Evercore ISI increased their target price on shares of Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Aflac from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Barclays initiated coverage on shares of Aflac in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price objective for the company. Finally, Bank of America boosted their target price on Aflac from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $93.36.

Insider Buying and Selling

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Aflac 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.