DAVENPORT & Co LLC Cuts Holdings in Aflac Incorporated $AFL

DAVENPORT & Co LLC reduced its holdings in Aflac Incorporated (NYSE:AFL) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 149,450 shares of the financial services provider’s stock after selling 7,598 shares during the quarter. DAVENPORT & Co LLC’s holdings in Aflac were worth $16,480,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Pensionfund Sabic purchased a new position in Aflac in the fourth quarter worth $1,555,000. Stolper Co boosted its position in shares of Aflac by 0.7% during the 4th quarter. Stolper Co now owns 77,401 shares of the financial services provider’s stock worth $8,535,000 after purchasing an additional 537 shares in the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Aflac by 72.4% during the 4th quarter. Daymark Wealth Partners LLC now owns 33,168 shares of the financial services provider’s stock worth $3,657,000 after purchasing an additional 13,925 shares in the last quarter. Quantum Financial Advisors LLC purchased a new stake in shares of Aflac during the 4th quarter worth $634,000. Finally, JGP Wealth Management LLC grew its stake in shares of Aflac by 1.5% during the 4th quarter. JGP Wealth Management LLC now owns 80,925 shares of the financial services provider’s stock worth $8,924,000 after purchasing an additional 1,185 shares during the period. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Stock Up 0.9%

Shares of NYSE AFL opened at $107.13 on Thursday. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $119.32. The company has a market capitalization of $55.19 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 3.48 and a beta of 0.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.11 and a quick ratio of 0.11. The firm’s 50-day moving average is $111.22 and its two-hundred day moving average is $110.34.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, February 4th. The financial services provider reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.12). Aflac had a return on equity of 14.35% and a net margin of 21.24%.The business had revenue of $4.28 billion for the quarter, compared to analysts’ expectations of $4.45 billion. During the same period last year, the business earned $1.57 earnings per share. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Equities analysts anticipate that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AFL shares. Wells Fargo & Company increased their price target on shares of Aflac from $109.00 to $118.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Mizuho set a $107.00 target price on shares of Aflac in a research report on Monday, February 9th. Wall Street Zen cut shares of Aflac from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. TD Cowen reiterated a “hold” rating on shares of Aflac in a research report on Monday, December 22nd. Finally, Weiss Ratings reissued a “buy (b+)” rating on shares of Aflac in a research note on Monday, December 22nd. Three 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, the company presently has an average rating of “Hold” and an average target price of $111.73.

Insider Buying and Selling at Aflac

In other news, Director Charles D. Lake II sold 15,590 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $109.93, for a total value of $1,713,808.70. Following the completion of the transaction, the director directly owned 62,237 shares of the company’s stock, valued at $6,841,713.41. The trade was a 20.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Post Holdings Co. Ltd. Japan sold 19,300 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $110.96, for a total value of $2,141,528.00. Following the sale, the insider directly owned 52,241,500 shares in the company, valued at approximately $5,796,716,840. The trade was a 0.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 220,877 shares of company stock valued at $24,170,256 in the last three months. 0.90% of the stock is currently owned by company insiders.

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.