Aflac Incorporated (NYSE:AFL) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its holdings in Aflac Incorporated (NYSE:AFL) by 70.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 69,366 shares of the financial services provider’s stock after selling 163,745 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Aflac were worth $7,175,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Whipplewood Advisors LLC acquired a new position in shares of Aflac in the 4th quarter worth $26,000. Darwin Wealth Management LLC acquired a new position in shares of Aflac in the 3rd quarter valued at $34,000. BankPlus Trust Department acquired a new position in shares of Aflac in the 4th quarter valued at $34,000. Raelipskie Partnership acquired a new stake in Aflac during the 3rd quarter worth about $38,000. Finally, Covestor Ltd raised its holdings in Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after buying an additional 107 shares during the period. Institutional investors own 67.44% of the company’s stock.

Aflac Price Performance

NYSE AFL opened at $107.44 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $58.72 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 3.24 and a beta of 0.93. Aflac Incorporated has a 12-month low of $79.31 and a 12-month high of $115.50. The company has a 50 day moving average price of $105.37 and a two-hundred day moving average price of $107.69.

Aflac (NYSE:AFL) last issued 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 return on equity of 16.20% and a net margin of 28.76%. As a group, equities analysts predict that Aflac Incorporated will post 6.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AFL. Morgan Stanley lifted their target price on shares of Aflac from $98.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Piper Sandler lowered their price objective on shares of Aflac from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. BMO Capital Markets assumed coverage on Aflac in a report on Thursday, January 23rd. They issued a “market perform” rating and a $111.00 target price for the company. Keefe, Bruyette & Woods lowered their price target on Aflac from $107.00 to $104.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. increased their price objective on Aflac from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $103.36.

Insider Activity

In related news, Director Charles D. Lake II sold 29,802 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $107.29, for a total value of $3,197,456.58. Following the transaction, the director now directly owns 49,962 shares in the company, valued at approximately $5,360,422.98. This trade represents a 37.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction on Friday, March 7th. The stock was sold at an average price of $107.63, for a total transaction of $107,630.00. Following the completion of the transaction, the director now owns 25,393 shares in the company, valued at $2,733,048.59. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,546 shares of company stock valued at $5,863,616. Insiders own 0.90% of the company’s stock.

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.