Mattern Capital Management LLC Acquires 1,571 Shares of Aflac Incorporated $AFL

Mattern Capital Management LLC boosted its holdings in Aflac Incorporated (NYSE:AFL) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,059 shares of the financial services provider’s stock after acquiring an additional 1,571 shares during the period. Aflac accounts for 1.3% of Mattern Capital Management LLC’s holdings, making the stock its 15th biggest position. Mattern Capital Management LLC’s holdings in Aflac were worth $11,080,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. AlphaCore Capital LLC bought a new position in Aflac during the 1st quarter worth $28,000. Hilltop National Bank bought a new position in Aflac during the 2nd quarter worth $32,000. Golden State Wealth Management LLC increased its position in Aflac by 121.9% during the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock worth $34,000 after buying an additional 167 shares during the period. Groupe la Francaise bought a new position in Aflac during the 1st quarter worth $34,000. Finally, Garde Capital Inc. bought a new position in Aflac during the 1st quarter worth $36,000. Institutional investors own 67.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley increased their price objective on Aflac from $108.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Monday, August 18th. Wall Street Zen upgraded Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods increased their price objective on Aflac from $106.00 to $108.00 and gave the stock a “market perform” rating in a research report on Monday, August 11th. Evercore ISI reiterated an “underperform” rating and set a $106.00 price objective (up previously from $105.00) on shares of Aflac in a research report on Thursday, August 14th. Finally, Wells Fargo & Company increased their target price on Aflac from $105.00 to $107.00 and gave the stock an “equal weight” rating in a report on Monday, August 11th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $109.15.

Aflac Stock Performance

AFL opened at $110.59 on Friday. The firm has a market cap of $59.14 billion, a P/E ratio of 25.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.86. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $115.50. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11. The business’s fifty day moving average is $106.13 and its 200-day moving average is $105.38.

Aflac (NYSE:AFL) last released its quarterly earnings data on Tuesday, August 5th. The financial services provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.07. The business had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.30 billion. Aflac had a return on equity of 15.08% and a net margin of 15.32%.Aflac’s revenue was down 19.0% compared to the same quarter last year. During the same period last year, the firm posted $1.83 earnings per share. Sell-side analysts expect that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were paid a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.32 annualized dividend and a yield of 2.1%. Aflac’s dividend payout ratio (DPR) is 52.61%.

Aflac announced that its board has authorized a stock repurchase plan on Tuesday, August 12th that allows the company to repurchase 100,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $102.57, for a total value of $102,570.00. Following the sale, the director directly owned 25,105 shares of the company’s stock, valued at $2,575,019.85. This trade represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by company 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.