Cresset Asset Management LLC Purchases 7,199 Shares of Aflac Incorporated (NYSE:AFL) (2024)

Posted by Defense World Staff on Jun 12th, 2024

Cresset Asset Management LLC boosted its position in Aflac Incorporated (NYSE:AFL – Free Report) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 156,060 shares of the financial services provider’s stock after purchasing an additional 7,199 shares during the quarter. Cresset Asset Management LLC’s holdings in Aflac were worth $12,875,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new stake in Aflac in the 4th quarter valued at $25,000. Bruce G. Allen Investments LLC bought a new stake in shares of Aflac during the 4th quarter valued at $32,000. Criterion Capital Advisors LLC bought a new stake in shares of Aflac during the 4th quarter valued at $33,000. Arlington Trust Co LLC bought a new stake in shares of Aflac during the 4th quarter valued at $35,000. Finally, Sachetta LLC bought a new stake in shares of Aflac during the 4th quarter valued at $35,000. 67.44% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Albert Riggieri sold 8,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $83.34, for a total value of $666,720.00. Following the completion of the sale, the senior vice president now owns 32,825 shares of the company’s stock, valued at $2,735,635.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP Albert Riggieri sold 8,000 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $83.34, for a total value of $666,720.00. Following the completion of the sale, the senior vice president now owns 32,825 shares of the company’s stock, valued at $2,735,635.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph L. Moskowitz sold 600 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total value of $50,904.00. Following the completion of the sale, the director now directly owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,978 shares of company stock valued at $3,098,128. Company insiders own 0.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AFL. Wells Fargo & Company upped their target price on Aflac from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. StockNews.com upgraded Aflac from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Piper Sandler upped their target price on Aflac from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Truist Financial upped their target price on Aflac from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley upped their price objective on Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Aflac has a consensus rating of “Hold” and an average target price of $82.38.

Check Out Our Latest Report on Aflac

Aflac Price Performance

Shares of AFL opened at $87.59 on Wednesday. Aflac Incorporated has a 12-month low of $66.58 and a 12-month high of $89.91. The business has a 50-day simple moving average of $85.34 and a two-hundred day simple moving average of $83.25. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34. The stock has a market cap of $49.77 billion, a PE ratio of 9.67, a PEG ratio of 2.19 and a beta of 0.96.

Aflac (NYSE:AFL – Get Free Report) last issued its earnings results on Monday, May 6th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $4.09 billion. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.55 EPS. Analysts anticipate that Aflac Incorporated will post 6.46 earnings per share for the current fiscal year.

Aflac Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 22nd were paid a $0.50 dividend. This is a boost from Aflac’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $2.00 annualized dividend and a dividend yield of 2.28%. Aflac’s dividend payout ratio is presently 22.08%.

About Aflac

(Free Report)

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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