Synovus Financial Corp Lowers Stock Holdings in Aflac Incorporated (NYSE:AFL)

Synovus Financial Corp decreased its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,100,074 shares of the financial services provider's stock after selling 94,806 shares during the quarter. Aflac comprises approximately 1.4% of Synovus Financial Corp's investment portfolio, making the stock its 13th largest position. Synovus Financial Corp owned approximately 0.20% of Aflac worth $113,792,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in Aflac by 75.2% in the third quarter. Franklin Resources Inc. now owns 776,131 shares of the financial services provider's stock valued at $88,533,000 after buying an additional 333,083 shares during the period. Roxbury Financial LLC acquired a new position in shares of Aflac in the 4th quarter valued at about $948,000. Willis Investment Counsel boosted its position in shares of Aflac by 1.2% during the 4th quarter. Willis Investment Counsel now owns 273,466 shares of the financial services provider's stock valued at $28,287,000 after purchasing an additional 3,357 shares in the last quarter. Board of the Pension Protection Fund acquired a new stake in Aflac during the fourth quarter worth approximately $1,014,000. Finally, Czech National Bank grew its stake in Aflac by 5.6% during the fourth quarter. Czech National Bank now owns 108,405 shares of the financial services provider's stock worth $11,213,000 after purchasing an additional 5,731 shares during the period. Institutional investors and hedge funds own 67.44% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

AFL has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Aflac from $118.00 to $124.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. Barclays reduced their price target on shares of Aflac from $98.00 to $95.00 and set an "underweight" rating for the company in a report on Friday, February 7th. Keefe, Bruyette & Woods dropped their price objective on shares of Aflac from $107.00 to $104.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. UBS Group boosted their target price on Aflac from $109.00 to $114.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Finally, BMO Capital Markets initiated coverage on Aflac in a report on Thursday, January 23rd. They issued a "market perform" rating and a $111.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $103.93.

Insider Buying and Selling

In related news, Director Charles D. Lake II sold 29,802 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $107.29, for a total transaction of $3,197,456.58. Following the sale, the director now directly owns 49,962 shares in the company, valued at approximately $5,360,422.98. This represents a 37.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction that occurred 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 completion of the transaction, the director now owns 25,393 shares of the company's stock, valued at $2,733,048.59. This represents a 3.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Aflac Stock Performance

AFL stock traded down $0.49 during midday trading on Tuesday, hitting $108.02. The company's stock had a trading volume of 1,228,464 shares, compared to its average volume of 2,141,304. The stock has a market cap of $58.96 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 3.24 and a beta of 0.81. 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's 50-day moving average price is $106.46 and its 200 day moving average price is $107.40. Aflac Incorporated has a 1 year low of $79.69 and a 1 year high of $115.50.

Aflac (NYSE:AFL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $1.56 earnings per share 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%. On average, equities analysts forecast that Aflac Incorporated will post 6.88 EPS for the current year.

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.