Redmond Asset Management LLC Invests $809,000 in Aflac Incorporated (NYSE:AFL)

Redmond Asset Management LLC acquired a new stake in Aflac Incorporated (NYSE:AFL) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 7,822 shares of the financial services provider’s stock, valued at approximately $809,000.

Other hedge funds have also bought and sold shares of the company. Franklin Resources Inc. grew its stake in Aflac by 75.2% in the 3rd quarter. Franklin Resources Inc. now owns 776,131 shares of the financial services provider’s stock valued at $88,533,000 after buying an additional 333,083 shares in the last quarter. Aptus Capital Advisors LLC boosted its holdings in Aflac by 79.7% in the 3rd quarter. Aptus Capital Advisors LLC now owns 27,354 shares of the financial services provider’s stock valued at $3,058,000 after purchasing an additional 12,131 shares during the period. Transamerica Financial Advisors Inc. bought a new position in Aflac in the 3rd quarter valued at $979,000. Roxbury Financial LLC bought a new position in Aflac in the 4th quarter valued at $948,000. Finally, FMR LLC boosted its holdings in Aflac by 4.0% in the 3rd quarter. FMR LLC now owns 1,202,104 shares of the financial services provider’s stock valued at $134,395,000 after purchasing an additional 45,745 shares during the period. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Aflac

In other Aflac news, EVP Audrey B. Tillman sold 24,744 shares of the business’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $103.40, for a total value of $2,558,529.60. Following the transaction, the executive vice president now owns 222,618 shares in the company, valued at approximately $23,018,701.20. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Aflac Price Performance

Shares of NYSE:AFL opened at $102.04 on Friday. The stock has a market cap of $56.69 billion, a PE ratio of 10.63, a PEG ratio of 3.31 and a beta of 0.99. The company’s fifty day moving average is $104.11 and its 200 day moving average is $107.29. Aflac Incorporated has a 52 week low of $78.62 and a 52 week high of $115.50. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29.

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

Aflac Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Wednesday, February 19th will be given a $0.58 dividend. This is a boost from Aflac’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, February 19th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.27%. Aflac’s payout ratio is presently 24.17%.

Wall Street Analysts Forecast Growth

AFL has been the subject of several analyst reports. StockNews.com raised shares of Aflac from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Wells Fargo & Company cut their price target on shares of Aflac from $104.00 to $102.00 and set an “equal weight” rating for the company in a report on Wednesday. Evercore ISI dropped 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. Keefe, Bruyette & Woods dropped their price objective on shares of Aflac from $107.00 to $104.00 and set a “market perform” rating for the company in a report on Wednesday, February 12th. Finally, Piper Sandler dropped their price objective 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. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Aflac presently has a consensus rating of “Hold” and a consensus price target of $102.86.

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.