Conning Inc. Buys 18,658 Shares of Aflac Incorporated $AFL

Conning Inc. increased its stake in shares of Aflac Incorporated (NYSE:AFL) by 6.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 328,376 shares of the financial services provider’s stock after acquiring an additional 18,658 shares during the period. Aflac accounts for about 1.2% of Conning Inc.’s holdings, making the stock its 25th biggest holding. Conning Inc.’s holdings in Aflac were worth $36,026,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Aflac by 64.4% in the 4th quarter. Brighton Jones LLC now owns 14,570 shares of the financial services provider’s stock valued at $1,507,000 after buying an additional 5,708 shares during the last quarter. Bison Wealth LLC raised its position in Aflac by 4.3% during the fourth quarter. Bison Wealth LLC now owns 4,402 shares of the financial services provider’s stock worth $455,000 after acquiring an additional 183 shares in the last quarter. WINTON GROUP Ltd bought a new stake in Aflac during the second quarter worth $280,000. Sei Investments Co. lifted its stake in Aflac by 11.2% in the second quarter. Sei Investments Co. now owns 150,334 shares of the financial services provider’s stock valued at $15,854,000 after acquiring an additional 15,105 shares during the last quarter. Finally, Main Street Financial Solutions LLC grew its position in shares of Aflac by 1.6% in the 2nd quarter. Main Street Financial Solutions LLC now owns 11,953 shares of the financial services provider’s stock valued at $1,261,000 after acquiring an additional 192 shares during the period. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Stock Down 0.0%

Shares of AFL opened at $121.98 on Friday. The firm has a market cap of $62.08 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 2.14 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.11 and a current ratio of 0.11. Aflac Incorporated has a 52 week low of $96.95 and a 52 week high of $122.80. The firm’s 50-day simple moving average is $116.91 and its 200 day simple moving average is $113.28.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.80 by ($0.05). Aflac had a return on equity of 13.88% and a net margin of 25.60%.The company had revenue of $4.24 billion for the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the business earned $1.66 earnings per share. The company’s revenue was up 27.9% on a year-over-year basis. On average, analysts forecast that Aflac Incorporated will post 7.08 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 20th were paid a $0.61 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $2.44 annualized dividend and a yield of 2.0%. Aflac’s payout ratio is 27.70%.

Insider Buying and Selling

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 63,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $118.12, for a total transaction of $7,441,560.00. Following the transaction, the insider owned 51,169,435 shares in the company, valued at $6,044,133,662.20. This trade represents a 0.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 744,916 shares of company stock valued at $87,118,632. Corporate insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

AFL has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on shares of Aflac from $111.00 to $120.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore raised Aflac from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, April 9th. Wall Street Zen upgraded Aflac from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Morgan Stanley raised their price objective on Aflac from $120.00 to $125.00 and gave the company an “equal weight” rating in a research report on Thursday, May 21st. Finally, Mizuho set a $112.00 target price on Aflac in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $114.08.

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.