Allstate Corp Takes $1.66 Million Position in Aflac Incorporated (NYSE:AFL)

Allstate Corp acquired a new position in shares of Aflac Incorporated (NYSE:AFL) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,036 shares of the financial services provider’s stock, valued at approximately $1,659,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Aflac by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 51,340,298 shares of the financial services provider’s stock worth $5,310,640,000 after buying an additional 653,275 shares during the period. Norges Bank bought a new position in Aflac during the 4th quarter worth approximately $349,699,000. Charles Schwab Investment Management Inc. grew its holdings in Aflac by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,226,681 shares of the financial services provider’s stock valued at $333,768,000 after purchasing an additional 47,119 shares during the period. Amundi increased its stake in Aflac by 81.1% in the fourth quarter. Amundi now owns 2,753,513 shares of the financial services provider’s stock valued at $285,181,000 after purchasing an additional 1,232,683 shares in the last quarter. Finally, Guinness Asset Management LTD raised its holdings in Aflac by 5.2% in the fourth quarter. Guinness Asset Management LTD now owns 2,395,045 shares of the financial services provider’s stock worth $247,682,000 after purchasing an additional 118,720 shares during the period. Institutional investors own 67.44% of the company’s stock.

Aflac Stock Down 1.0 %

Shares of AFL stock opened at $109.71 on Monday. The firm’s fifty day moving average price is $106.49 and its two-hundred day moving average price is $107.66. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 1 year low of $79.31 and a 1 year high of $115.50. The firm has a market capitalization of $59.88 billion, a P/E ratio of 11.43, a PEG ratio of 3.24 and a beta of 0.93.

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

Wall Street Analysts Forecast Growth

AFL has been the subject of a number of recent analyst reports. Evercore ISI lowered their price objective on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a research report on Wednesday, December 4th. Barclays lowered their price target on Aflac from $98.00 to $95.00 and set an “underweight” rating for the company in a report on Friday, February 7th. JPMorgan Chase & Co. lifted their price objective on Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler lowered their target price on Aflac from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, BMO Capital Markets initiated coverage on shares of Aflac in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $111.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Aflac presently has a consensus rating of “Hold” and a consensus price target of $103.36.

Insider Transactions at Aflac

In other news, Director Charles D. Lake II sold 29,802 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $107.29, for a total transaction of $3,197,456.58. Following the transaction, the director now directly owns 49,962 shares in the company, valued at $5,360,422.98. The trade was a 37.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph L. Moskowitz sold 1,000 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $107.63, for a total transaction of $107,630.00. Following the completion of the sale, the director now owns 25,393 shares of the company’s stock, valued at $2,733,048.59. This trade represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.