Assetmark Inc. Reduces Stock Position in Aflac Incorporated $AFL

Assetmark Inc. cut its holdings in Aflac Incorporated (NYSE:AFL) by 47.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 860,535 shares of the financial services provider’s stock after selling 791,965 shares during the period. Assetmark Inc.’s holdings in Aflac were worth $96,122,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AFL. Norges Bank bought a new position in shares of Aflac during the 2nd quarter valued at approximately $432,201,000. Invesco Ltd. raised its position in Aflac by 16.7% in the 2nd quarter. Invesco Ltd. now owns 4,167,886 shares of the financial services provider’s stock worth $439,545,000 after purchasing an additional 594,971 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Aflac in the 2nd quarter worth about $60,954,000. Marshall Wace LLP grew its stake in Aflac by 459.0% in the 2nd quarter. Marshall Wace LLP now owns 701,390 shares of the financial services provider’s stock worth $73,969,000 after acquiring an additional 575,915 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Aflac by 146.3% during the second quarter. Sterling Capital Management LLC now owns 772,061 shares of the financial services provider’s stock worth $81,422,000 after acquiring an additional 458,551 shares during the period. 67.44% of the stock is owned by institutional investors.

Aflac Stock Down 0.4%

Shares of NYSE AFL opened at $115.82 on Friday. The company’s 50-day simple moving average is $110.61 and its 200-day simple moving average is $109.00. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $119.32. The firm has a market cap of $60.70 billion, a price-to-earnings ratio of 16.83, a price-to-earnings-growth ratio of 3.80 and a beta of 0.67. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last released its earnings results on Wednesday, February 4th. The financial services provider reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.12). Aflac had a net margin of 21.24% and a return on equity of 14.35%. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.45 billion. During the same quarter last year, the business earned $1.57 EPS. The business’s revenue was down 9.6% compared to the same quarter last year. Equities analysts predict that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AFL has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on Aflac from $107.00 to $109.00 and gave the stock an “equal weight” rating in a research report on Friday, November 7th. Barclays set a $101.00 price target on shares of Aflac and gave the stock an “underweight” rating in a report on Thursday, January 8th. Morgan Stanley set a $120.00 price objective on shares of Aflac in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their price objective on shares of Aflac from $101.00 to $105.00 and gave the company a “neutral” rating in a report on Monday, January 5th. Finally, Mizuho set a $107.00 price objective on shares of Aflac in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $110.91.

Insider Buying and Selling at Aflac

In other news, Director Joseph L. Moskowitz sold 786 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $113.75, for a total transaction of $89,407.50. Following the completion of the transaction, the director directly owned 24,829 shares in the company, valued at approximately $2,824,298.75. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Steven Kent Beaver sold 5,492 shares of the company’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $109.53, for a total transaction of $601,538.76. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 25,592 shares of company stock worth $2,844,656 in the last ninety days. 0.90% of the stock is owned by insiders.

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.