Allstate Corp Invests $2.03 Million in Aflac Incorporated $AFL

Allstate Corp acquired a new position in Aflac Incorporated (NYSE:AFL) in the 3rd quarter, HoldingsChannel reports. The fund acquired 18,128 shares of the financial services provider’s stock, valued at approximately $2,025,000.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of Aflac by 188.5% in the third quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the period. Whipplewood Advisors LLC boosted its stake 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 during the period. Chilton Capital Management LLC purchased a new stake in Aflac in the 2nd quarter worth about $26,000. Mid American Wealth Advisory Group Inc. purchased a new position in Aflac during the 2nd quarter valued at $26,000. Finally, Hilltop National Bank bought a new stake in Aflac during the 2nd quarter valued at about $32,000. Institutional investors own 67.44% of the company’s stock.

Aflac Stock Performance

Shares of NYSE AFL opened at $109.19 on Wednesday. The stock has a market capitalization of $57.23 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 3.21 and a beta of 0.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a 50 day moving average price of $110.29 and a 200 day moving average price of $107.91. Aflac Incorporated has a 52 week low of $96.95 and a 52 week high of $115.83.

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

Aflac Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 2nd. Investors of record on Wednesday, February 18th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, February 18th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.2%. This is a boost from Aflac’s previous quarterly dividend of $0.58. Aflac’s dividend payout ratio (DPR) is currently 30.29%.

Insider Buying and Selling

In other Aflac news, EVP Steven Kent Beaver sold 5,492 shares of the business’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $109.53, for a total value of $601,538.76. Following the sale, the executive vice president directly owned 38,368 shares in the company, valued at $4,202,447.04. The trade was a 12.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph L. Moskowitz sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $114.00, for a total value of $114,000.00. Following the completion of the transaction, the director owned 23,615 shares of the company’s stock, valued at approximately $2,692,110. This represents a 4.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 31,766 shares of company stock valued at $3,549,706 in the last 90 days. Insiders own 0.80% of the company’s stock.

Analysts Set New Price Targets

AFL has been the subject of a number of analyst reports. Cowen restated a “hold” rating on shares of Aflac in a research report on Monday, December 22nd. JPMorgan Chase & Co. raised their target price on shares of Aflac from $101.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Mizuho assumed coverage on shares of Aflac in a research report on Tuesday, December 16th. They set an “underperform” rating and a $104.00 price objective for the company. Morgan Stanley set a $120.00 price target on shares of Aflac in a research note on Monday, December 15th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $119.00 price target (up from $110.00) on shares of Aflac in a research note on Tuesday, December 30th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.67.

About Aflac

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.