Assenagon Asset Management S.A. Has $57.57 Million Position in Aflac Incorporated (NYSE:AFL)

Assenagon Asset Management S.A. lifted its stake in Aflac Incorporated (NYSE:AFL) by 670.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 556,576 shares of the financial services provider’s stock after buying an additional 484,378 shares during the period. Assenagon Asset Management S.A.’s holdings in Aflac were worth $57,572,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new stake in shares of Aflac in the 3rd quarter worth approximately $34,000. Raelipskie Partnership acquired a new stake in Aflac during the third quarter worth $38,000. Covestor Ltd boosted its stake in Aflac by 41.8% during the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after buying an additional 107 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Aflac in the 3rd quarter valued at $45,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Aflac during the 3rd quarter worth about $51,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Trading Up 1.1 %

AFL opened at $104.80 on Thursday. Aflac Incorporated has a 1-year low of $75.07 and a 1-year high of $115.50. The stock has a market capitalization of $58.22 billion, a PE ratio of 15.78, a PEG ratio of 2.09 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $106.55 and a two-hundred day moving average price of $105.12.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $1.84 earnings per share. Aflac’s revenue for the quarter was down 40.4% compared to the same quarter last year. As a group, equities analysts anticipate that Aflac Incorporated will post 7.27 earnings per share for the current fiscal year.

Aflac Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.58 per share. The ex-dividend date is Wednesday, February 19th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Aflac’s previous quarterly dividend of $0.50. Aflac’s payout ratio is presently 34.94%.

Analyst Ratings Changes

A number of analysts recently weighed in on AFL shares. Truist Financial upped their target price on shares of Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods dropped their target price on Aflac from $108.00 to $107.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Piper Sandler boosted their price target on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Aflac from $103.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, TD Cowen began coverage on shares of Aflac in a research note on Wednesday, October 9th. They issued a “hold” rating and a $102.00 target price on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $102.07.

Insider Activity

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 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 of the company’s stock, 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 SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

Aflac Company 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.