OLD National Bancorp IN Reduces Stock Holdings in Aflac Incorporated (NYSE:AFL)

OLD National Bancorp IN trimmed its position in Aflac Incorporated (NYSE:AFL) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 18,316 shares of the financial services provider’s stock after selling 428 shares during the period. OLD National Bancorp IN’s holdings in Aflac were worth $1,895,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Darwin Wealth Management LLC purchased a new position in shares of Aflac during the 3rd quarter valued at about $34,000. Raelipskie Partnership purchased a new position in shares of Aflac during the 3rd quarter valued at about $38,000. Covestor Ltd lifted its position in shares of Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after buying an additional 107 shares in the last quarter. Kennebec Savings Bank purchased a new position in shares of Aflac during the 3rd quarter valued at about $45,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Aflac during the 3rd quarter valued at approximately $51,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Aflac

In related news, EVP Audrey B. Tillman sold 24,744 shares of the business’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the completion of the transaction, the executive vice president now owns 222,618 shares in the company, valued at $23,018,701.20. The trade was a 10.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.

Aflac Stock Performance

NYSE AFL opened at $108.25 on Friday. The business’s 50 day moving average price is $105.68 and its 200-day moving average price is $106.26. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $60.14 billion, a P/E ratio of 16.30, a P/E/G ratio of 2.10 and a beta of 1.00.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business earned $1.84 EPS. Aflac’s revenue was down 40.4% compared to the same quarter last year. Sell-side analysts predict that Aflac Incorporated will post 7.26 earnings per share for the current year.

Aflac Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be issued a dividend of $0.58 per share. The ex-dividend date is Wednesday, February 19th. This represents a $2.32 dividend on an annualized basis and a yield of 2.14%. This is a boost from Aflac’s previous quarterly dividend of $0.50. Aflac’s payout ratio is presently 30.12%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AFL. Barclays lifted their target price on Aflac from $96.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. TD Cowen began coverage on Aflac in a research note on Wednesday, October 9th. They set a “hold” rating and a $102.00 target price on the stock. Keefe, Bruyette & Woods decreased their target price on Aflac from $108.00 to $107.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Evercore ISI decreased their target price on Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their target price on Aflac from $103.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $102.67.

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.