Evercore Wealth Management LLC Trims Stake in AFLAC Incorporated (AFL)

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Evercore Wealth Management LLC trimmed its position in AFLAC Incorporated (NYSE:AFL) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,524 shares of the financial services provider’s stock after selling 1,712 shares during the quarter. Evercore Wealth Management LLC’s holdings in AFLAC were worth $2,896,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Prospera Financial Services Inc bought a new stake in shares of AFLAC in the third quarter worth about $512,000. Korea Investment CORP increased its holdings in shares of AFLAC by 14.9% in the second quarter. Korea Investment CORP now owns 372,929 shares of the financial services provider’s stock worth $16,043,000 after purchasing an additional 48,300 shares during the last quarter. Swiss National Bank increased its holdings in shares of AFLAC by 1.7% in the second quarter. Swiss National Bank now owns 2,698,890 shares of the financial services provider’s stock worth $116,106,000 after purchasing an additional 46,400 shares during the last quarter. Liberty Capital Management Inc. increased its holdings in shares of AFLAC by 4.4% in the third quarter. Liberty Capital Management Inc. now owns 90,663 shares of the financial services provider’s stock worth $4,268,000 after purchasing an additional 3,847 shares during the last quarter. Finally, CIBC World Markets Inc. increased its holdings in shares of AFLAC by 5.8% in the third quarter. CIBC World Markets Inc. now owns 103,436 shares of the financial services provider’s stock worth $4,869,000 after purchasing an additional 5,654 shares during the last quarter. 66.77% of the stock is currently owned by hedge funds and other institutional investors.

AFL opened at $43.55 on Friday. AFLAC Incorporated has a 12 month low of $41.41 and a 12 month high of $48.19. The stock has a market capitalization of $33.72 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.28 and a beta of 0.96. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.23.

AFLAC (NYSE:AFL) last announced its earnings results on Wednesday, October 24th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.04. AFLAC had a return on equity of 12.85% and a net margin of 21.51%. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. Analysts anticipate that AFLAC Incorporated will post 4.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Shareholders of record on Wednesday, November 21st were given a dividend of $0.26 per share. The ex-dividend date was Tuesday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 2.39%. AFLAC’s dividend payout ratio (DPR) is presently 30.59%.

Several research analysts recently commented on AFL shares. Credit Suisse Group dropped their price target on AFLAC from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 17th. Zacks Investment Research upgraded AFLAC from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Monday, September 3rd. Morgan Stanley lifted their price target on AFLAC from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 27th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of AFLAC in a research report on Wednesday, October 3rd. Finally, ValuEngine lowered AFLAC from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $48.38.

In other AFLAC news, Director Joseph L. Moskowitz sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $46.38, for a total transaction of $69,570.00. Following the completion of the transaction, the director now owns 17,779 shares in the company, valued at $824,590.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Douglas Wayne Johnson sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $46.52, for a total value of $93,040.00. Following the transaction, the director now owns 29,859 shares of the company’s stock, valued at approximately $1,389,040.68. The disclosure for this sale can be found here. 3.00% of the stock is owned by insiders.

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AFLAC Profile

Aflac Incorporated, through its subsidiary, American Family Life Assurance Company of Columbus, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.

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Institutional Ownership by Quarter for AFLAC (NYSE:AFL)

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