Illinois Municipal Retirement Fund Grows Stake in Aflac Incorporated (NYSE:AFL)


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Illinois Municipal Retirement Fund boosted its position in Aflac Incorporated (NYSE:AFL) by 12.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,383 shares of the financial services provider’s stock after purchasing an additional 6,981 shares during the period. Illinois Municipal Retirement Fund’s holdings in Aflac were worth $3,295,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. McIlrath & Eck LLC grew its holdings in Aflac by 742.4% during the 4th quarter. McIlrath & Eck LLC now owns 556 shares of the financial services provider’s stock valued at $25,000 after buying an additional 490 shares during the last quarter. First Horizon Corp acquired a new stake in Aflac during the 4th quarter valued at $25,000. Glassman Wealth Services boosted its holdings in shares of Aflac by 137.5% during the fourth quarter. Glassman Wealth Services now owns 608 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 352 shares during the last quarter. Addison Advisors LLC acquired a new stake in shares of Aflac during the fourth quarter worth $28,000. Finally, Breiter Capital Management Inc. boosted its holdings in shares of Aflac by 3.1% during the first quarter. Breiter Capital Management Inc. now owns 27,809 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 825 shares during the last quarter. 66.02% of the stock is owned by hedge funds and other institutional investors.

AFL has been the topic of several analyst reports. Zacks Investment Research cut Aflac from a “hold” rating to a “sell” rating and set a $55.00 price objective on the stock. in a report on Tuesday, April 13th. JPMorgan Chase & Co. increased their target price on Aflac from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, April 5th. Credit Suisse Group increased their target price on Aflac from $40.00 to $48.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 3rd. Truist increased their target price on Aflac from $48.00 to $54.00 in a research report on Friday. Finally, Evercore ISI raised Aflac from an “underperform” rating to an “in-line” rating and raised their price objective for the company from $43.00 to $47.00 in a research report on Friday, January 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $50.83.

In other news, CFO James Todd Daniels sold 4,118 shares of the company’s stock in a transaction that occurred on Monday, March 29th. The stock was sold at an average price of $51.10, for a total transaction of $210,429.80. Following the completion of the transaction, the chief financial officer now directly owns 36,381 shares of the company’s stock, valued at $1,859,069.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Teresa L. White sold 17,716 shares of the company’s stock in a transaction that occurred on Tuesday, February 9th. The shares were sold at an average price of $46.09, for a total value of $816,530.44. Following the transaction, the insider now directly owns 96,328 shares of the company’s stock, valued at $4,439,757.52. The disclosure for this sale can be found here. Insiders have sold 101,878 shares of company stock valued at $4,880,148 over the last ninety days. Corporate insiders own 1.40% of the company’s stock.

NYSE:AFL opened at $54.52 on Tuesday. The company has a market capitalization of $37.49 billion, a price-to-earnings ratio of 8.52, a price-to-earnings-growth ratio of 1.92 and a beta of 0.97. Aflac Incorporated has a one year low of $30.32 and a one year high of $54.92. The stock has a 50-day simple moving average of $52.17 and a 200 day simple moving average of $46.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.06 and a current ratio of 0.06.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Tuesday, April 27th. The financial services provider reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.32. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.55 billion. Aflac had a return on equity of 12.12% and a net margin of 21.11%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period last year, the firm earned $1.21 earnings per share. On average, equities research analysts forecast that Aflac Incorporated will post 4.93 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Shareholders of record on Wednesday, May 19th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, May 18th. This represents a $1.32 dividend on an annualized basis and a yield of 2.42%. Aflac’s payout ratio is currently 29.73%.

Aflac Profile

Aflac, Inc is a holding company, which engages in the provision financial protection services. It operates through the Aflac Japan and Aflac United States (U.S.) segments. The Aflac Japan segment offers life insurance, death benefits, and cash surrender values. The Aflac U.S. segment sells voluntary supplemental insurance products for people who already have major medical or primary insurance coverage.

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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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