M&T Bank Corp Reduces Stock Position in Aflac Incorporated (NYSE:AFL)

M&T Bank Corp lowered its stake in Aflac Incorporated (NYSE:AFL) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,507 shares of the financial services provider’s stock after selling 1,965 shares during the quarter. M&T Bank Corp’s holdings in Aflac were worth $8,622,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new position in Aflac in the fourth quarter valued at $25,000. Bruce G. Allen Investments LLC acquired a new stake in Aflac during the 4th quarter worth approximately $32,000. Harvest Fund Management Co. Ltd acquired a new position in Aflac in the 3rd quarter valued at $33,000. Criterion Capital Advisors LLC purchased a new stake in shares of Aflac during the 4th quarter worth $33,000. Finally, Arlington Trust Co LLC acquired a new position in Aflac during the fourth quarter worth about $35,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Aflac Trading Down 1.0 %

AFL opened at $83.21 on Monday. The stock has a market capitalization of $47.28 billion, a P/E ratio of 9.18, a P/E/G ratio of 2.23 and a beta of 0.91. The firm’s fifty day simple moving average is $83.14 and its 200 day simple moving average is $81.90. Aflac Incorporated has a 12 month low of $64.10 and a 12 month high of $86.26. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $4.09 billion. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.55 EPS. As a group, research analysts anticipate that Aflac Incorporated will post 6.43 EPS for the current fiscal year.

Aflac Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 22nd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, May 21st. This is a boost from Aflac’s previous quarterly dividend of $0.42. This represents a $2.00 annualized dividend and a yield of 2.40%. Aflac’s dividend payout ratio is presently 22.08%.

Insider Buying and Selling at Aflac

In related news, Director Masatoshi Koide sold 30,493 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $79.91, for a total transaction of $2,436,695.63. Following the sale, the director now owns 86,090 shares of the company’s stock, valued at approximately $6,879,451.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Aflac news, SVP Albert Riggieri sold 8,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $83.34, for a total transaction of $666,720.00. Following the transaction, the senior vice president now owns 32,825 shares in the company, valued at $2,735,635.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Masatoshi Koide sold 30,493 shares of Aflac stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $79.91, for a total value of $2,436,695.63. Following the transaction, the director now directly owns 86,090 shares in the company, valued at approximately $6,879,451.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,493 shares of company stock valued at $3,765,706. 0.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AFL shares. The Goldman Sachs Group upped their price target on Aflac from $61.00 to $75.00 and gave the stock a “sell” rating in a research note on Tuesday, January 9th. StockNews.com upgraded Aflac from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company cut their price objective on Aflac from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 11th. UBS Group boosted their price objective on Aflac from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Aflac from $83.00 to $87.00 and gave the company a “market perform” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Aflac has an average rating of “Hold” and an average target price of $82.31.

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.