Envestnet Portfolio Solutions Inc. Reduces Stock Position in Aflac Incorporated $AFL

Envestnet Portfolio Solutions Inc. cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 45.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,396 shares of the financial services provider’s stock after selling 5,359 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Aflac were worth $714,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC grew its holdings 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 acquiring an additional 147 shares during the period. Mid American Wealth Advisory Group Inc. bought a new stake in shares of Aflac during the 2nd quarter valued at about $26,000. Chilton Capital Management LLC purchased a new stake in shares of Aflac during the 2nd quarter valued at about $26,000. Whipplewood Advisors LLC lifted its stake in shares of Aflac by 1,526.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 229 shares during the period. Finally, Hilltop National Bank bought a new position in shares of Aflac in the 2nd quarter worth approximately $32,000. 67.44% of the stock is owned by institutional investors.

Aflac Trading Up 1.4%

Aflac stock opened at $110.45 on Friday. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $115.83. The firm’s 50 day moving average price is $109.74 and its 200-day moving average price is $108.14. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $57.89 billion, a P/E ratio of 14.42, a PEG ratio of 3.22 and a beta of 0.67.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.77 by $0.72. Aflac had a return on equity of 14.97% and a net margin of 23.55%.The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.36 billion. During the same quarter last year, the business posted $2.16 earnings per share. The business’s quarterly revenue was up 59.4% compared to the same quarter last year. On average, equities 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. Shareholders of record on Wednesday, February 18th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This is a positive change from Aflac’s previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a yield of 2.2%. Aflac’s payout ratio is presently 30.29%.

Wall Street Analysts Forecast Growth

AFL has been the subject of a number of research reports. Piper Sandler set a $125.00 target price on shares of Aflac and gave the company an “overweight” rating in a report on Tuesday, October 7th. Barclays set a $101.00 price objective on shares of Aflac and gave the company an “underweight” rating in a research report on Thursday, January 8th. JPMorgan Chase & Co. raised their target price on Aflac from $101.00 to $105.00 and gave the stock a “neutral” rating in a report on Monday, January 5th. TD Cowen reissued a “hold” rating on shares of Aflac in a report on Monday, December 22nd. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of Aflac in a research report on Monday, December 22nd. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Aflac currently has a consensus rating of “Hold” and an average price target of $110.64.

Insider Activity

In other news, EVP Audrey B. Tillman sold 15,862 shares of the stock in a transaction that occurred on 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 sale, the executive vice president directly owned 230,688 shares in the company, valued at approximately $25,837,056. This represents a 6.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Steven Kent Beaver sold 5,492 shares of the 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 completion of the sale, the executive vice president owned 38,368 shares in the company, valued at approximately $4,202,447.04. The trade was a 12.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 31,766 shares of company stock valued at $3,549,706. Company insiders own 0.90% of the company’s stock.

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.