Exchange Traded Concepts LLC Takes Position in Aflac Incorporated (NYSE:AFL)

Exchange Traded Concepts LLC bought a new position in shares of Aflac Incorporated (NYSE:AFL) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 8,929 shares of the financial services provider’s stock, valued at approximately $998,000.

A number of other hedge funds also recently added to or reduced their stakes in AFL. Brown Miller Wealth Management LLC purchased a new stake in shares of Aflac during the third quarter worth $230,000. Burns Matteson Capital Management LLC raised its position in Aflac by 117.9% in the 3rd quarter. Burns Matteson Capital Management LLC now owns 6,704 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 3,627 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Aflac by 0.7% in the 3rd quarter. Ritholtz Wealth Management now owns 26,507 shares of the financial services provider’s stock valued at $2,964,000 after buying an additional 190 shares during the period. Guinness Asset Management LTD grew its position in shares of Aflac by 3.8% during the third quarter. Guinness Asset Management LTD now owns 2,276,325 shares of the financial services provider’s stock worth $254,382,000 after buying an additional 83,289 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Aflac during the third quarter worth approximately $681,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Barclays started coverage on Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 target price on the stock. Wells Fargo & Company lifted their price target on Aflac from $90.00 to $106.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Bank of America increased their price objective on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley boosted their target price on Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $97.53.

Insiders Place Their Bets

In other news, Director Thomas J. Kenny sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now directly owns 18,158 shares in the company, valued at $1,796,552.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.90% of the stock is owned by insiders.

Aflac Trading Up 0.3 %

NYSE AFL opened at $114.38 on Thursday. The firm’s fifty day moving average is $108.85 and its two-hundred day moving average is $95.49. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $64.99 billion, a PE ratio of 12.62, a P/E/G ratio of 2.62 and a beta of 0.95.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.23. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Analysts expect that Aflac Incorporated will post 6.76 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 annualized dividend and a yield of 1.75%. Aflac’s dividend payout ratio is currently 22.08%.

Aflac 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.