Public Employees Retirement Association of Colorado Sells 4,774 Shares of Aflac Incorporated (NYSE:AFL)

Public Employees Retirement Association of Colorado reduced its stake in Aflac Incorporated (NYSE:AFL) by 6.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,695 shares of the financial services provider’s stock after selling 4,774 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Aflac were worth $6,671,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Ieq Capital LLC increased its stake in shares of Aflac by 0.5% during the second quarter. Ieq Capital LLC now owns 21,775 shares of the financial services provider’s stock valued at $1,945,000 after purchasing an additional 101 shares in the last quarter. Forum Financial Management LP boosted its holdings in Aflac by 1.3% in the second quarter. Forum Financial Management LP now owns 8,337 shares of the financial services provider’s stock worth $745,000 after purchasing an additional 107 shares during the last quarter. TriaGen Wealth Management LLC boosted its holdings in Aflac by 3.6% in the second quarter. TriaGen Wealth Management LLC now owns 3,377 shares of the financial services provider’s stock worth $302,000 after purchasing an additional 117 shares during the last quarter. Graypoint LLC raised its position in Aflac by 2.0% in the second quarter. Graypoint LLC now owns 5,988 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 118 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its position in Aflac by 1.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 7,254 shares of the financial services provider’s stock worth $623,000 after acquiring an additional 121 shares during the period. 67.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays started coverage on shares of Aflac in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target on the stock. Truist Financial lifted their price target on shares of Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a report on Friday, August 2nd. Jefferies Financial Group reduced their price target on shares of Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Bank of America lifted their price target on shares of Aflac from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Piper Sandler lifted their price target on shares of Aflac from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $92.50.

Insiders Place Their Bets

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the completion of the transaction, the director now owns 18,158 shares of the company’s stock, valued at $1,796,552.52. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

Aflac Price Performance

Shares of AFL opened at $107.92 on Friday. The company has a 50 day moving average price of $102.88 and a 200-day moving average price of $91.96. Aflac Incorporated has a fifty-two week low of $74.89 and a fifty-two week high of $111.14. The stock has a market capitalization of $61.32 billion, a PE ratio of 11.91, a PEG ratio of 2.53 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the prior year, the company posted $1.58 earnings per share. Aflac’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts predict that Aflac Incorporated will post 6.75 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 2nd. Investors of record on Wednesday, August 21st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.85%. Aflac’s payout ratio is 22.08%.

Aflac Company Profile

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.