Conning Inc. Has $34.77 Million Stock Position in Aflac Incorporated $AFL

Conning Inc. lessened its holdings in Aflac Incorporated (NYSE:AFL) by 6.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 311,300 shares of the financial services provider’s stock after selling 22,547 shares during the quarter. Aflac accounts for approximately 1.2% of Conning Inc.’s investment portfolio, making the stock its 21st biggest position. Conning Inc.’s holdings in Aflac were worth $34,772,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC boosted its holdings in Aflac by 188.5% in the 3rd quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Aflac in the second quarter valued at approximately $26,000. Chilton Capital Management LLC bought a new stake in shares of Aflac in the second quarter valued at approximately $26,000. Whipplewood Advisors LLC grew its position in Aflac by 1,526.7% during the second quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock worth $26,000 after buying an additional 229 shares in the last quarter. Finally, Hilltop National Bank bought a new position in Aflac during the 2nd quarter worth $32,000. 67.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

AFL has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their target price on Aflac from $108.00 to $110.00 and gave the company a “market perform” rating in a research report on Thursday, October 9th. Raymond James Financial reaffirmed an “outperform” rating and issued a $119.00 price target (up previously from $110.00) on shares of Aflac in a research note on Tuesday, December 30th. Barclays set a $101.00 price objective on shares of Aflac and gave the stock an “underweight” rating in a research note on Thursday, January 8th. Wells Fargo & Company boosted their target price on shares of Aflac from $107.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, November 7th. Finally, Morgan Stanley set a $120.00 price target on shares of Aflac in a report on Monday, December 15th. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Aflac presently has a consensus rating of “Hold” and a consensus target price of $110.67.

Insider Transactions at Aflac

In other Aflac news, EVP Audrey B. Tillman sold 15,862 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $112.00, for a total value of $1,776,544.00. Following the completion of the transaction, the executive vice president directly owned 230,688 shares in the company, valued at approximately $25,837,056. This trade represents a 6.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $114.00, for a total value of $114,000.00. Following the sale, the director directly owned 23,615 shares in the company, valued at $2,692,110. The trade was a 4.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,766 shares of company stock worth $3,549,706 in the last 90 days. 0.90% of the stock is currently owned by company insiders.

Aflac Trading Up 2.0%

AFL opened at $110.09 on Thursday. The company has a market cap of $57.70 billion, a P/E ratio of 14.37, a PEG ratio of 3.17 and a beta of 0.67. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $110.63 and its 200-day moving average is $107.76. Aflac Incorporated has a 1-year low of $96.95 and a 1-year high of $115.83.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $2.49 EPS for the quarter, beating the consensus estimate of $1.77 by $0.72. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.36 billion. Aflac had a net margin of 23.55% and a return on equity of 14.97%. The firm’s revenue was up 59.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.16 EPS. Equities research analysts predict that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Aflac Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be given a dividend of $0.61 per share. The ex-dividend date is Wednesday, February 18th. This represents a $2.44 dividend on an annualized basis and a yield of 2.2%. This is an increase from Aflac’s previous quarterly dividend of $0.58. Aflac’s dividend payout ratio is presently 31.85%.

Aflac Company Profile

Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac’s product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.

Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.