Tobam Sells 1,557 Shares of Aflac Incorporated (NYSE:AFL)

Tobam cut its stake in Aflac Incorporated (NYSE:AFL) by 59.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,067 shares of the financial services provider’s stock after selling 1,557 shares during the quarter. Tobam’s holdings in Aflac were worth $95,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Eudaimonia Partners LLC lifted its holdings in Aflac by 234.6% during the fourth quarter. Eudaimonia Partners LLC now owns 10,448 shares of the financial services provider’s stock worth $862,000 after acquiring an additional 7,325 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Aflac by 22.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 86,010 shares of the financial services provider’s stock valued at $7,096,000 after purchasing an additional 15,855 shares during the period. Southeast Asset Advisors Inc. increased its stake in Aflac by 0.4% during the 4th quarter. Southeast Asset Advisors Inc. now owns 139,164 shares of the financial services provider’s stock worth $11,481,000 after purchasing an additional 589 shares in the last quarter. Nordea Investment Management AB raised its holdings in Aflac by 6.7% during the 1st quarter. Nordea Investment Management AB now owns 1,806,475 shares of the financial services provider’s stock worth $155,140,000 after buying an additional 113,226 shares during the period. Finally, Richard C. Young & CO. LTD. bought a new position in Aflac in the fourth quarter valued at approximately $12,546,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Aflac Price Performance

NYSE:AFL opened at $110.34 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $96.70 and a 200 day simple moving average of $88.61. Aflac Incorporated has a 1-year low of $73.62 and a 1-year high of $110.68. The stock has a market capitalization of $62.70 billion, a PE ratio of 12.18, a P/E/G ratio of 2.76 and a beta of 0.95.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the business earned $1.58 EPS. Aflac’s revenue for the quarter was down .7% compared to the same quarter last year. On average, research analysts expect that Aflac Incorporated will post 6.48 EPS for the current fiscal year.

Aflac Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Citigroup lifted their price target on Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Bank of America upped their price objective on Aflac from $105.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Jefferies Financial Group decreased their price objective on Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a report on Friday, June 28th. Finally, Piper Sandler boosted their target price on Aflac from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Aflac has a consensus rating of “Hold” and a consensus target price of $91.69.

Insider Buying and Selling

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now 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 Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by insiders.

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.