Insider Selling: Aflac (NYSE:AFL) EVP Sells 5,508 Shares of Stock

Aflac Incorporated (NYSE:AFL) EVP Steven Kent Beaver sold 5,508 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $117.81, for a total transaction of $648,897.48. Following the sale, the executive vice president owned 40,537 shares of the company’s stock, valued at approximately $4,775,663.97. This represents a 11.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Aflac Trading Down 1.7%

Shares of Aflac stock traded down $2.01 during trading on Wednesday, reaching $114.81. 2,474,132 shares of the stock were exchanged, compared to its average volume of 2,307,507. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.26. The stock’s fifty day moving average is $112.81 and its 200 day moving average is $111.78. The firm has a market cap of $58.44 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 2.07 and a beta of 0.62. Aflac Incorporated has a 1 year low of $96.95 and a 1 year high of $119.81.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.05). The firm had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.20 billion. Aflac had a return on equity of 13.88% and a net margin of 25.60%.The business’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 earnings per share. As a group, equities research analysts expect that Aflac Incorporated will post 7.08 earnings per share for the current fiscal year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Wednesday, May 20th will be issued a $0.61 dividend. The ex-dividend date is Wednesday, May 20th. This represents a $2.44 annualized dividend and a yield of 2.1%. Aflac’s dividend payout ratio (DPR) is 27.70%.

Hedge Funds Weigh In On Aflac

Several large investors have recently made changes to their positions in AFL. Whipplewood Advisors LLC purchased a new position in shares of Aflac during the first quarter valued at approximately $25,000. Groupe la Francaise purchased a new position in shares of Aflac during the first quarter valued at approximately $25,000. Quarry LP purchased a new position in shares of Aflac during the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC purchased a new position in shares of Aflac during the fourth quarter valued at approximately $29,000. Finally, Evergreen Advisors LLC purchased a new position in shares of Aflac during the first quarter valued at approximately $29,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Aflac from $116.00 to $111.00 and set an “equal weight” rating for the company in a report on Tuesday, May 5th. Keefe, Bruyette & Woods raised their price objective on shares of Aflac from $113.00 to $115.00 and gave the stock a “market perform” rating in a report on Friday, April 10th. Barclays set a $99.00 price objective on shares of Aflac and gave the stock an “underweight” rating in a report on Thursday, April 30th. Morgan Stanley raised their price objective on shares of Aflac from $120.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. Finally, Evercore upgraded shares of Aflac from a “strong sell” rating to a “strong-buy” rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $112.27.

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.