Norges Bank Takes Position in Aflac Incorporated (NYSE:AFL)

Norges Bank purchased a new stake in shares of Aflac Incorporated (NYSE:AFL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,380,690 shares of the financial services provider’s stock, valued at approximately $349,699,000. Norges Bank owned approximately 0.61% of Aflac as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Private Trust Co. NA raised its stake in shares of Aflac by 1.3% in the fourth quarter. Private Trust Co. NA now owns 7,643 shares of the financial services provider’s stock worth $791,000 after purchasing an additional 99 shares during the last quarter. Phillips Wealth Planners LLC increased its holdings in Aflac by 1.5% in the 4th quarter. Phillips Wealth Planners LLC now owns 6,553 shares of the financial services provider’s stock worth $662,000 after buying an additional 100 shares in the last quarter. Raleigh Capital Management Inc. raised its position in Aflac by 23.2% in the 4th quarter. Raleigh Capital Management Inc. now owns 531 shares of the financial services provider’s stock worth $55,000 after buying an additional 100 shares during the last quarter. TKG Advisors LLC lifted its stake in Aflac by 0.5% during the 4th quarter. TKG Advisors LLC now owns 21,255 shares of the financial services provider’s stock valued at $2,230,000 after acquiring an additional 103 shares during the period. Finally, Robertson Stephens Wealth Management LLC boosted its holdings in shares of Aflac by 1.6% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,960 shares of the financial services provider’s stock valued at $720,000 after acquiring an additional 107 shares during the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Price Performance

Shares of NYSE:AFL opened at $109.71 on Friday. The company has a market capitalization of $59.88 billion, a P/E ratio of 11.43, a P/E/G ratio of 3.24 and a beta of 0.93. Aflac Incorporated has a 1-year low of $79.31 and a 1-year high of $115.50. The firm’s 50 day simple moving average is $106.49 and its two-hundred day simple moving average is $107.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.08.

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

Analysts Set New Price Targets

AFL has been the subject of several research reports. Evercore ISI decreased their price objective on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price target on Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. BMO Capital Markets began coverage on Aflac in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $111.00 price target on the stock. Piper Sandler reduced their price objective on Aflac from $122.00 to $118.00 and set an “overweight” rating for the company in a research report on Friday, February 7th. Finally, Wells Fargo & Company cut their price target on Aflac from $104.00 to $102.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $103.36.

Insider Transactions at Aflac

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

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.