Corebridge Financial Inc. Sells 6,757 Shares of Aflac Incorporated (NYSE:AFL)

Corebridge Financial Inc. lowered its position in Aflac Incorporated (NYSE:AFL) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,277 shares of the financial services provider’s stock after selling 6,757 shares during the period. Corebridge Financial Inc.’s holdings in Aflac were worth $12,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Private Trust Co. NA raised its position in Aflac by 1.3% in the 4th quarter. Private Trust Co. NA now owns 7,643 shares of the financial services provider’s stock valued at $791,000 after purchasing an additional 99 shares during the last quarter. Phillips Wealth Planners LLC increased its stake in shares of Aflac by 1.5% in the fourth quarter. Phillips Wealth Planners LLC now owns 6,553 shares of the financial services provider’s stock valued at $662,000 after buying an additional 100 shares in the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Aflac by 23.2% in the fourth quarter. Raleigh Capital Management Inc. now owns 531 shares of the financial services provider’s stock valued at $55,000 after buying an additional 100 shares during the last quarter. TKG Advisors LLC lifted its position in Aflac by 0.5% during the 4th quarter. TKG Advisors LLC now owns 21,255 shares of the financial services provider’s stock worth $2,230,000 after buying an additional 103 shares in the last quarter. Finally, Robertson Stephens Wealth Management LLC grew its holdings in Aflac by 1.6% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 6,960 shares of the financial services provider’s stock worth $720,000 after acquiring an additional 107 shares during the last quarter. 67.44% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $2,558,529.60. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles D. Lake II sold 29,802 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $107.29, for a total transaction of $3,197,456.58. Following the sale, the director now owns 49,962 shares in the company, valued at $5,360,422.98. This trade represents a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,546 shares of company stock worth $5,863,616 over the last ninety days. 0.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Aflac from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Wells Fargo & Company reduced their price objective on Aflac from $104.00 to $102.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 19th. Evercore ISI lowered their target price on Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their price target on Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a research note on Tuesday, January 7th. Finally, BMO Capital Markets initiated coverage on Aflac in a research 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 company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $103.36.

Aflac Stock Down 0.1 %

Shares of NYSE AFL opened at $109.56 on Wednesday. Aflac Incorporated has a 52-week low of $79.31 and a 52-week high of $115.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.08 and a current ratio of 0.10. The stock has a market cap of $59.88 billion, a P/E ratio of 11.41, a P/E/G ratio of 3.24 and a beta of 0.93. The firm has a 50 day moving average price of $106.21 and a 200 day moving average price of $107.62.

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

About Aflac

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.