Sumitomo Mitsui Asset Management Company LTD Sells 2,554 Shares of Aflac Incorporated (AFL)

Sumitomo Mitsui Asset Management Company LTD reduced its stake in shares of Aflac Incorporated (NYSE:AFL) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,473 shares of the financial services provider’s stock after selling 2,554 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Aflac were worth $2,480,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd bought a new stake in Aflac in the 2nd quarter valued at about $358,000. Keybank National Association OH increased its position in Aflac by 242.1% in the 2nd quarter. Keybank National Association OH now owns 128,219 shares of the financial services provider’s stock valued at $9,960,000 after buying an additional 90,741 shares in the last quarter. New Amsterdam Partners LLC NY bought a new stake in Aflac in the 2nd quarter valued at about $531,000. Delta Lloyd Asset Management N.V. acquired a new position in Aflac during the 2nd quarter valued at about $3,306,000. Finally, Coho Partners Ltd. boosted its stake in Aflac by 85.3% during the 2nd quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock valued at $169,881,000 after purchasing an additional 1,006,477 shares during the last quarter. 66.69% of the stock is owned by institutional investors and hedge funds.

In other Aflac news, Director Douglas Wayne Johnson sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total transaction of $125,370.00. Following the sale, the director now owns 13,733 shares of the company’s stock, valued at $1,147,804.14. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Kriss Cloninger III sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $83.83, for a total transaction of $2,095,750.00. Following the sale, the president now directly owns 298,646 shares in the company, valued at approximately $25,035,494.18. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,709 shares of company stock valued at $2,404,680. 3.00% of the stock is owned by company insiders.

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Aflac Incorporated (NYSE:AFL) traded down $0.64 during midday trading on Monday, hitting $83.44. 1,181,700 shares of the company traded hands, compared to its average volume of 1,794,537. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.07 and a current ratio of 0.07. Aflac Incorporated has a 1 year low of $66.50 and a 1 year high of $85.70. The company has a market cap of $32,804.40, a price-to-earnings ratio of 12.38, a PEG ratio of 2.47 and a beta of 1.00.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.07. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.48 billion. Aflac had a net margin of 12.49% and a return on equity of 12.87%. Aflac’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 EPS. analysts anticipate that Aflac Incorporated will post 6.76 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.16%. This is a boost from Aflac’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, November 14th. Aflac’s dividend payout ratio is 24.93%.

Aflac declared that its Board of Directors has approved a share repurchase plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 outstanding shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

A number of equities research analysts have issued reports on AFL shares. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $93.00 target price on the stock in a report on Tuesday, September 5th. BidaskClub cut shares of Aflac from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 1st. ValuEngine raised shares of Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Barclays PLC upped their target price on shares of Aflac from $73.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $82.00 target price on shares of Aflac in a report on Thursday, September 28th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $79.63.

About Aflac

Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.

Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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