Insider Selling: Aflac Incorporated (NYSE:AFL) Director Sells $3,197,456.58 in Stock

Aflac Incorporated (NYSE:AFL) Director Charles D. Lake II sold 29,802 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $107.29, for a total value of $3,197,456.58. Following the completion of the sale, the director now directly owns 49,962 shares of the company’s stock, valued at approximately $5,360,422.98. This trade represents a 37.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Aflac Price Performance

AFL opened at $104.95 on Friday. Aflac Incorporated has a 52-week low of $79.31 and a 52-week high of $115.50. The company has a 50 day moving average of $105.29 and a two-hundred day moving average of $107.69. The company has a market cap of $57.37 billion, a P/E ratio of 10.93, a P/E/G ratio of 3.24 and a beta of 0.93. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07). Aflac had a net margin of 28.76% and a return on equity of 16.20%. On average, analysts expect that Aflac Incorporated will post 6.88 earnings per share for the current year.

Institutional Trading of Aflac

A number of hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in Aflac by 75.2% in the 3rd quarter. Franklin Resources Inc. now owns 776,131 shares of the financial services provider’s stock worth $88,533,000 after buying an additional 333,083 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in shares of Aflac by 79.7% in the third quarter. Aptus Capital Advisors LLC now owns 27,354 shares of the financial services provider’s stock worth $3,058,000 after acquiring an additional 12,131 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Aflac in the third quarter valued at about $979,000. Roxbury Financial LLC acquired a new stake in Aflac during the 4th quarter valued at approximately $948,000. Finally, FMR LLC increased its holdings in Aflac by 4.0% during the 3rd quarter. FMR LLC now owns 1,202,104 shares of the financial services provider’s stock worth $134,395,000 after purchasing an additional 45,745 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on AFL shares. Evercore ISI decreased their price objective on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a report on Wednesday, December 4th. Piper Sandler decreased their price target on Aflac from $122.00 to $118.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Aflac from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their target price on shares of Aflac from $107.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, BMO Capital Markets assumed coverage on shares of Aflac in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $111.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $103.36.

About Aflac

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.