Aflac Incorporated (NYSE:AFL) Stake Lowered by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its position in Aflac Incorporated (NYSE:AFL) by 0.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 97,643 shares of the financial services provider’s stock after selling 699 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Aflac were worth $10,100,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AFL. Whipplewood Advisors LLC bought a new position in shares of Aflac in the 4th quarter valued at approximately $26,000. BankPlus Trust Department bought a new stake in shares of Aflac in the 4th quarter worth about $34,000. Curio Wealth LLC acquired a new stake in shares of Aflac during the fourth quarter worth approximately $36,000. Raelipskie Partnership bought a new position in Aflac in the 3rd quarter valued at $38,000. Finally, OFI Invest Asset Management acquired a new position in Aflac during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Aflac Price Performance

NYSE:AFL opened at $109.70 on Tuesday. Aflac Incorporated has a 12-month low of $79.31 and a 12-month high of $115.50. The stock’s 50 day moving average price is $106.09 and its two-hundred day moving average price is $107.61. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $59.96 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 3.24 and a beta of 0.93.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, February 5th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Aflac had a return on equity of 16.20% and a net margin of 28.76%. On average, analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current year.

Insider Activity

In related news, Director Charles D. Lake II sold 29,802 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $107.29, for a total value of $3,197,456.58. Following the transaction, the director now owns 49,962 shares in the company, valued at approximately $5,360,422.98. This trade represents a 37.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph L. Moskowitz sold 1,000 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $107.63, for a total value of $107,630.00. Following the completion of the transaction, the director now directly owns 25,393 shares of the company’s stock, valued at approximately $2,733,048.59. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,546 shares of company stock worth $5,863,616. Corporate insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AFL. Morgan Stanley upped their price objective on Aflac from $98.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Piper Sandler lowered their target price on shares of Aflac from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Barclays dropped their price target on Aflac from $98.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Keefe, Bruyette & Woods cut their price objective on Aflac from $107.00 to $104.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Finally, Evercore ISI dropped their target price on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a report on Wednesday, December 4th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $103.36.

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.