Procyon Advisors LLC Sells 366 Shares of Aflac Incorporated (NYSE:AFL)

Procyon Advisors LLC lessened its holdings in shares of Aflac Incorporated (NYSE:AFLFree Report) by 11.2% during the first quarter, HoldingsChannel.com reports. The firm owned 2,916 shares of the financial services provider’s stock after selling 366 shares during the quarter. Procyon Advisors LLC’s holdings in Aflac were worth $324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in AFL. Whipplewood Advisors LLC acquired a new position in Aflac in the 4th quarter valued at $26,000. BankPlus Trust Department bought a new position in shares of Aflac in the fourth quarter worth $34,000. Curio Wealth LLC acquired a new position in Aflac in the fourth quarter valued at about $36,000. OFI Invest Asset Management bought a new stake in Aflac during the fourth quarter worth about $38,000. Finally, Capital A Wealth Management LLC bought a new stake in Aflac during the fourth quarter worth about $38,000. 67.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Aflac

In other news, Director Masatoshi Koide sold 37,000 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $105.59, for a total transaction of $3,906,830.00. Following the sale, the director now owns 70,992 shares in the company, valued at approximately $7,496,045.28. The trade was a 34.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Arthur Reginald Collins sold 2,750 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $105.70, for a total transaction of $290,675.00. Following the sale, the director now directly owns 6,728 shares in the company, valued at $711,149.60. The trade was a 29.01% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,750 shares of company stock valued at $4,304,295. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

AFL has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Aflac from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, May 19th. Raymond James cut their target price on Aflac from $115.00 to $110.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. UBS Group raised their target price on Aflac from $109.00 to $114.00 and gave the company a “neutral” rating in a report on Wednesday, April 2nd. Barclays boosted their price target on Aflac from $95.00 to $96.00 and gave the stock an “underweight” rating in a report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods raised their price objective on Aflac from $104.00 to $106.00 and gave the company a “market perform” rating in a research note on Wednesday, May 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $104.93.

Check Out Our Latest Report on Aflac

Aflac Price Performance

AFL opened at $103.71 on Monday. The firm has a market cap of $56.07 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 3.24 and a beta of 0.82. Aflac Incorporated has a 1 year low of $86.46 and a 1 year high of $115.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.08. The stock’s 50 day simple moving average is $105.39 and its 200 day simple moving average is $105.87.

Aflac (NYSE:AFLGet Free Report) last posted its earnings results on Wednesday, April 30th. The financial services provider reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.01). The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $4.53 billion. Aflac had a return on equity of 16.20% and a net margin of 28.76%. The business’s revenue for the quarter was down 37.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 earnings per share. As a group, analysts predict that Aflac Incorporated will post 6.88 earnings per share for the current year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Wednesday, May 21st were issued a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $2.32 annualized dividend and a yield of 2.24%. Aflac’s dividend payout ratio (DPR) is presently 36.25%.

Aflac Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aflac Incorporated (NYSE:AFLFree Report).

Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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