RNC Capital Management LLC Reduces Stake in Aflac Incorporated (NYSE:AFL)

RNC Capital Management LLC decreased its stake in shares of Aflac Incorporated (NYSE:AFLGet Rating) by 14.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,042 shares of the financial services provider’s stock after selling 1,000 shares during the period. RNC Capital Management LLC’s holdings in Aflac were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AFL. Bank of America Corp DE increased its stake in Aflac by 3.0% in the 2nd quarter. Bank of America Corp DE now owns 4,316,114 shares of the financial services provider’s stock worth $231,603,000 after acquiring an additional 125,775 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Aflac by 73.0% in the 3rd quarter. Vontobel Holding Ltd. now owns 18,895 shares of the financial services provider’s stock worth $985,000 after acquiring an additional 7,973 shares during the last quarter. TCI Wealth Advisors Inc. increased its position in shares of Aflac by 207.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,250 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 844 shares during the last quarter. Trust Asset Management LLC increased its position in shares of Aflac by 6.6% during the 3rd quarter. Trust Asset Management LLC now owns 6,464 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 400 shares during the last quarter. Finally, Strong Tower Advisory Services bought a new position in shares of Aflac during the 3rd quarter valued at about $1,057,000. 65.53% of the stock is currently owned by institutional investors and hedge funds.

AFL has been the subject of several analyst reports. StockNews.com initiated coverage on Aflac in a report on Thursday, March 31st. They set a “hold” rating for the company. Piper Sandler raised their target price on Aflac from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Wednesday, April 6th. Royal Bank of Canada raised their target price on Aflac from $61.00 to $66.00 in a research note on Friday, February 4th. Jefferies Financial Group assumed coverage on Aflac in a research note on Tuesday, January 25th. They issued a “hold” rating and a $60.00 target price for the company. Finally, UBS Group raised their target price on Aflac from $54.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $61.45.

Shares of Aflac stock traded down $0.50 on Tuesday, reaching $65.02. The company’s stock had a trading volume of 45,726 shares, compared to its average volume of 3,140,681. The company has a market capitalization of $42.25 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 2.49 and a beta of 0.94. The firm’s fifty day simple moving average is $63.20 and its two-hundred day simple moving average is $59.85. Aflac Incorporated has a 52 week low of $51.28 and a 52 week high of $66.97. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.24.

Aflac (NYSE:AFLGet Rating) last posted its earnings results on Wednesday, February 2nd. The financial services provider reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.24 billion. Aflac had a return on equity of 12.12% and a net margin of 19.57%. The company’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. As a group, research analysts predict that Aflac Incorporated will post 5.26 EPS for the current year.

In related news, Director Toshihiko Fukuzawa sold 1,300 shares of Aflac stock in a transaction on Friday, March 25th. The stock was sold at an average price of $65.50, for a total value of $85,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Albert Riggieri sold 1,687 shares of Aflac stock in a transaction on Tuesday, March 29th. The stock was sold at an average price of $65.05, for a total value of $109,739.35. The disclosure for this sale can be found here. In the last three months, insiders sold 53,993 shares of company stock valued at $3,441,526. Corporate insiders own 1.10% of the company’s stock.

About Aflac (Get Rating)

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care income support, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.

See Also

Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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