M&R Capital Management Inc. Trims Stake in Aflac Incorporated (NYSE:AFL)

Posted by James Nelson on Mar 18th, 2023

M&R Capital Management Inc. reduced its position in Aflac Incorporated (NYSE:AFL – Get Rating) by 2.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,798 shares of the financial services provider’s stock after selling 300 shares during the period. M&R Capital Management Inc.’s holdings in Aflac were worth $849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in AFL. MinichMacGregor Wealth Management LLC purchased a new stake in Aflac during the 4th quarter valued at approximately $27,000. JCIC Asset Management Inc. purchased a new stake in Aflac during the 4th quarter valued at approximately $29,000. EdgeRock Capital LLC purchased a new stake in Aflac during the 3rd quarter valued at approximately $26,000. New Millennium Group LLC purchased a new stake in Aflac during the 2nd quarter valued at approximately $25,000. Finally, Horizons Wealth Management purchased a new stake in Aflac during the 2nd quarter valued at approximately $39,000. 66.22% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Aflac

In other Aflac news, Director Joseph L. Moskowitz sold 500 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $71.98, for a total transaction of $35,990.00. Following the sale, the director now owns 19,751 shares in the company, valued at approximately $1,421,676.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Aflac news, Director Masatoshi Koide sold 19,291 shares of the stock in a transaction on Tuesday, February 14th. The stock was sold at an average price of $70.36, for a total transaction of $1,357,314.76. Following the sale, the director now owns 87,598 shares in the company, valued at approximately $6,163,395.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph L. Moskowitz sold 500 shares of the stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $71.98, for a total value of $35,990.00. Following the sale, the director now owns 19,751 shares in the company, valued at approximately $1,421,676.98. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on AFL shares. Truist Financial upped their price objective on Aflac from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, February 6th. StockNews.com initiated coverage on Aflac in a research note on Thursday. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their target price on Aflac from $62.00 to $66.00 and gave the stock a “neutral” rating in a research note on Friday, January 6th. Piper Sandler increased their target price on Aflac from $73.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Finally, Raymond James increased their target price on Aflac from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Monday, January 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $71.75.

Aflac Price Performance

Shares of AFL traded down $1.19 on Friday, reaching $61.29. The stock had a trading volume of 7,331,290 shares, compared to its average volume of 2,839,532. The firm has a market capitalization of $37.52 billion, a PE ratio of 9.33, a PEG ratio of 2.26 and a beta of 0.94. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average of $69.23 and a 200 day moving average of $66.73. Aflac Incorporated has a twelve month low of $52.07 and a twelve month high of $74.01.

Aflac (NYSE:AFL – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.08. The business had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.49 billion. Aflac had a return on equity of 13.69% and a net margin of 21.54%. The company’s revenue was down 26.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. Sell-side analysts expect that Aflac Incorporated will post 5.59 EPS for the current year.

Aflac Profile

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Aflac, Inc is a holding company. engages in the provision of financial protection services. It operates through the followings segments: Aflac Japan and Aflac United States (U.S.). The Aflac Japan segment offers life insurance, death benefits, and cash surrender values. The Aflac U.S. segment sells voluntary supplemental insurance products for people who already have major medical or primary insurance coverage.