Geode Capital Management LLC Raises Stake in Aflac Incorporated (NYSE:AFL)

Geode Capital Management LLC grew its holdings in shares of Aflac Incorporated (NYSE:AFL) by 2.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,465,433 shares of the financial services provider’s stock after acquiring an additional 288,482 shares during the quarter. Geode Capital Management LLC owned 2.24% of Aflac worth $1,286,042,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AFL. Franklin Resources Inc. raised its position in Aflac by 75.2% in the 3rd quarter. Franklin Resources Inc. now owns 776,131 shares of the financial services provider’s stock worth $88,533,000 after purchasing an additional 333,083 shares during the period. Roxbury Financial LLC bought a new stake in shares of Aflac in the 4th quarter valued at about $948,000. FMR LLC boosted its holdings in Aflac by 4.0% during the 3rd quarter. FMR LLC now owns 1,202,104 shares of the financial services provider’s stock valued at $134,395,000 after acquiring an additional 45,745 shares during the period. Willis Investment Counsel grew its position in Aflac by 1.2% during the 4th quarter. Willis Investment Counsel now owns 273,466 shares of the financial services provider’s stock worth $28,287,000 after acquiring an additional 3,357 shares during the last quarter. Finally, Board of the Pension Protection Fund purchased a new position in Aflac in the 4th quarter worth approximately $1,014,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Price Performance

Shares of AFL opened at $112.44 on Wednesday. The firm’s 50-day simple moving average is $106.71 and its two-hundred day simple moving average is $107.71. Aflac Incorporated has a fifty-two week low of $79.31 and a fifty-two week high of $115.50. The stock has a market cap of $61.37 billion, a PE ratio of 11.71, a price-to-earnings-growth ratio of 3.24 and a beta of 0.93. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.08 and a current ratio of 0.10.

Aflac (NYSE:AFL) last posted its quarterly 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%. Analysts anticipate that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on AFL shares. StockNews.com upgraded shares of Aflac from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Keefe, Bruyette & Woods decreased their price objective on shares of Aflac from $107.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler dropped their target price on shares of Aflac from $122.00 to $118.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Evercore ISI reduced their price target on Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a report on Wednesday, December 4th. Finally, BMO Capital Markets initiated coverage on Aflac in a report on Thursday, January 23rd. They issued a “market perform” rating and a $111.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.36.

Insider Buying and Selling

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 25,393 shares in the company, valued at $2,733,048.59. The trade was a 3.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles D. Lake II sold 29,802 shares of Aflac stock in a transaction on Monday, March 10th. The stock was sold at an average price of $107.29, for a total value of $3,197,456.58. Following the completion of the sale, the director now directly owns 49,962 shares of the company’s stock, valued at approximately $5,360,422.98. The trade was a 37.36 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.