Prudential PLC Boosts Stock Holdings in Aflac Incorporated $AFL

Prudential PLC lifted its stake in Aflac Incorporated (NYSE:AFL) by 34.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,777 shares of the financial services provider’s stock after purchasing an additional 44,947 shares during the period. Prudential PLC’s holdings in Aflac were worth $18,327,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Catalyst Funds Management Pty Ltd grew its position in shares of Aflac by 168.5% during the second quarter. Catalyst Funds Management Pty Ltd now owns 11,600 shares of the financial services provider’s stock worth $1,223,000 after buying an additional 7,280 shares in the last quarter. Howe & Rusling Inc. raised its holdings in shares of Aflac by 3.6% in the 2nd quarter. Howe & Rusling Inc. now owns 7,947 shares of the financial services provider’s stock valued at $838,000 after purchasing an additional 276 shares in the last quarter. PKS Advisory Services LLC grew its stake in shares of Aflac by 6.6% during the second quarter. PKS Advisory Services LLC now owns 4,593 shares of the financial services provider’s stock worth $484,000 after purchasing an additional 285 shares in the last quarter. Empirical Finance LLC raised its stake in Aflac by 0.6% in the second quarter. Empirical Finance LLC now owns 19,384 shares of the financial services provider’s stock valued at $2,044,000 after buying an additional 107 shares in the last quarter. Finally, Dorsey Wright & Associates increased its holdings in shares of Aflac by 1.4% in the 2nd quarter. Dorsey Wright & Associates now owns 42,686 shares of the financial services provider’s stock valued at $4,502,000 after acquiring an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AFL. Evercore ISI boosted their target price on Aflac from $110.00 to $111.00 and gave the stock an “underperform” rating in a research note on Friday, November 7th. Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Morgan Stanley increased their target price on shares of Aflac from $113.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Aflac from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Aflac in a research note on Thursday, November 13th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $111.00.

Aflac Price Performance

Shares of AFL opened at $109.33 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11. Aflac Incorporated has a fifty-two week low of $96.95 and a fifty-two week high of $115.83. The firm has a 50-day simple moving average of $109.98 and a 200-day simple moving average of $106.04. The company has a market capitalization of $57.30 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 2.93 and a beta of 0.83.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Monday, February 27th. The financial services provider reported $1.07 EPS for the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%.The firm had revenue of $5.91 billion during the quarter. On average, equities research analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current year.

Aflac Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be issued a dividend of $0.61 per share. This is a boost from Aflac’s previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, February 18th. Aflac’s dividend payout ratio is 30.29%.

Aflac declared that its Board of Directors has authorized a share buyback program on Tuesday, August 12th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $114.00, for a total transaction of $114,000.00. Following the completion of the transaction, the director owned 23,615 shares in the company, valued at approximately $2,692,110. This represents a 4.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Audrey B. Tillman sold 3,452 shares of Aflac stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $115.10, for a total transaction of $397,325.20. Following the completion of the sale, the executive vice president directly owned 230,688 shares in the company, valued at approximately $26,552,188.80. The trade was a 1.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 6,960 shares of company stock worth $794,458 in the last three months. Insiders own 0.90% of the company’s stock.

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.