Guinness Asset Management LTD Increases Position in Aflac Incorporated (NYSE:AFL)

Guinness Asset Management LTD raised its position in shares of Aflac Incorporated (NYSE:AFL) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,395,045 shares of the financial services provider’s stock after purchasing an additional 118,720 shares during the period. Aflac comprises 4.7% of Guinness Asset Management LTD’s portfolio, making the stock its 4th biggest position. Guinness Asset Management LTD owned 0.43% of Aflac worth $247,682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Wealth Management LLC purchased a new stake in Aflac during the third quarter worth $34,000. Raelipskie Partnership bought a new stake in Aflac during the third quarter valued at about $38,000. Covestor Ltd grew its stake in Aflac by 41.8% in the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 107 shares during the last quarter. Kennebec Savings Bank bought a new position in Aflac in the third quarter worth about $45,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Aflac during the third quarter valued at about $51,000. Institutional investors own 67.44% of the company’s stock.

Insider Buying and Selling

In related news, EVP Audrey B. Tillman sold 24,744 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AFL has been the subject of a number of analyst reports. Barclays increased their target price on shares of Aflac from $96.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. TD Cowen began coverage on Aflac in a research note on Wednesday, October 9th. They set a “hold” rating and a $102.00 price target on the stock. 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 research report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Aflac from $108.00 to $107.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.07.

Aflac Price Performance

NYSE:AFL opened at $106.43 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08. The company has a 50 day moving average price of $106.41 and a 200-day moving average price of $105.36. Aflac Incorporated has a 1-year low of $75.07 and a 1-year high of $115.50. The firm has a market cap of $59.13 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company’s quarterly revenue was down 40.4% on a year-over-year basis. During the same period last year, the firm earned $1.84 EPS. Equities research analysts forecast that Aflac Incorporated will post 7.26 EPS for the current year.

Aflac Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $2.32 dividend on an annualized basis and a yield of 2.18%. This is a boost from Aflac’s previous quarterly dividend of $0.50. Aflac’s dividend payout ratio (DPR) is currently 30.12%.

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.