Sei Investments Co. reduces stake in Aflac Incorporated (NYSE:AFL)

Sei Investments Co. cut its holdings in shares of Aflac Incorporated (NYSE:AFL – Free Report) by 10.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,945 shares of the financial services provider’s stock after selling 32,488 shares during the quarter. The holdings of Sei Investments Co. holdings in Aflac were worth $24,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. YD More Investments Ltd acquired a new stake in shares of Aflac during the second quarter valued at approximately $25,000. Atwood & Palmer Inc. raised its stake in Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 140 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Aflac in the first quarter valued at $29,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Aflac in the first quarter valued at $34,000. Finally, Cedar Wealth Management LLC purchased a new position in shares of Aflac in the first quarter worth about $50,000. 67.44% of shares are owned by institutional investors and hedge funds.

Insider activity at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now directly owns 18,158 shares in the company, valued at $1,796,552.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.90% of the company’s shares.

Changes in Analyst Ratings

AFL has been the subject of several research reports. Bank of America boosted their target price on Aflac from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Citigroup boosted their price objective on Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. raised their target price on shares of Aflac from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Piper Sandler boosted their target price on shares of Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Finally, UBS Group lifted their price objective on shares of Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Three 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’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $92.50, according to MarketBeat.

Get the latest analysis on Aflac

Aflac trading down 0.8%

NYSE AFL opened at $109.12 on Wednesday. Aflac Incorporated has a 52-week low of $74.89 and a 52-week high of $111.14. The firm has a 50-day moving average price of $103.52 and a 200-day moving average price of $92.41. The stock has a market cap of $62.00 billion, a P/E ratio of 12.04, a P/E/G ratio of 2.53 and a beta of 0.95. 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 (NYSE:AFL – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.60 by $0.23. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. In the same period last year, the firm earned $1.58 EPS. The company’s quarterly revenue was down 0.7% compared to the same quarter last year. equities research analysts expect that Aflac Incorporated will post 6.75 EPS for the current year.

Aflac Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, August 21. This represents a dividend of $2.00 on an annualized basis and a dividend yield of 1.83%. Aflac’s dividend payout ratio (DPR) is currently 22.08%.

Aflac Company Profile

(Free Report)

Aflac Incorporated, through its subsidiaries, provides additional health and life insurance products. The company operates through the Aflac Japan and Aflac USA segments. The Aflac Japan segment offers cancer, medical, health care, vacation, GIFT and whole and term life insurance products, as well as WAYS and child endowment plans under savings insurance products in Japan.

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