State of Tennessee Department of Treasury Lowers Holdings in Aflac Incorporated (NYSE:AFL)

State of Tennessee Department of Treasury reduced its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,709 shares of the financial services provider's stock after selling 3,945 shares during the period. State of Tennessee Department of Treasury's holdings in Aflac were worth $19,313,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in AFL. Whipplewood Advisors LLC purchased a new stake in shares of Aflac in the 4th quarter valued at about $26,000. BankPlus Trust Department bought a new position in shares of Aflac in the fourth quarter worth approximately $34,000. Curio Wealth LLC purchased a new stake in Aflac in the fourth quarter valued at approximately $36,000. OFI Invest Asset Management purchased a new position in Aflac in the 4th quarter worth approximately $38,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Aflac in the 4th quarter worth $41,000. Institutional investors own 67.44% of the company's stock.

Insider Activity at Aflac

In other Aflac news, Director Charles D. Lake II sold 29,802 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $107.29, for a total value of $3,197,456.58. Following the completion of the transaction, the director now owns 49,962 shares in the company, valued at approximately $5,360,422.98. This represents a 37.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph L. Moskowitz sold 1,000 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $107.63, for a total transaction of $107,630.00. Following the sale, the director now owns 25,393 shares in the company, valued at approximately $2,733,048.59. This trade represents a 3.79 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Aflac Trading Up 3.2 %

AFL opened at $108.28 on Wednesday. Aflac Incorporated has a one year low of $80.59 and a one year high of $115.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.08. The business has a 50 day simple moving average of $106.84 and a two-hundred day simple moving average of $107.17. The firm has a market capitalization of $59.10 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 3.24 and a beta of 0.81.

Aflac (NYSE:AFL - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $1.56 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%. Analysts predict that Aflac Incorporated will post 6.88 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Barclays cut their target price on shares of Aflac from $98.00 to $95.00 and set an "underweight" rating for the company in a research report on Friday, February 7th. Keefe, Bruyette & Woods reduced their price objective on Aflac from $107.00 to $104.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. 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 target price for the company. Morgan Stanley cut their target price on Aflac from $105.00 to $100.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, Piper Sandler lifted their price target on shares of Aflac from $118.00 to $124.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. 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 stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $103.93.

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.

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