Cadence Capital Management LLC Reduces Holdings in AFLAC Incorporated (NYSE:AFL)

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Cadence Capital Management LLC decreased its holdings in shares of AFLAC Incorporated (NYSE:AFL) by 19.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 25,016 shares of the financial services provider’s stock after selling 6,068 shares during the period. Cadence Capital Management LLC’s holdings in AFLAC were worth $909,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of AFLAC during the first quarter worth about $29,000. Ovata Capital Management Ltd acquired a new stake in shares of AFLAC during the second quarter worth about $35,000. Ninety One SA PTY Ltd lifted its holdings in shares of AFLAC by 1,144.4% during the second quarter. Ninety One SA PTY Ltd now owns 672 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 618 shares during the period. Kore Private Wealth LLC lifted its holdings in shares of AFLAC by 3,376.7% during the second quarter. Kore Private Wealth LLC now owns 1,043 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 1,013 shares during the period. Finally, First National Bank of South Miami acquired a new stake in shares of AFLAC during the second quarter worth about $43,000. Institutional investors and hedge funds own 66.35% of the company’s stock.

Shares of AFL stock traded down $0.04 during trading hours on Friday, hitting $37.21. 2,630,899 shares of the company’s stock were exchanged, compared to its average volume of 4,037,806. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.26. The firm has a market cap of $26.53 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.65 and a beta of 0.82. The firm has a 50 day moving average of $36.99 and a two-hundred day moving average of $36.36. AFLAC Incorporated has a fifty-two week low of $23.07 and a fifty-two week high of $55.07.

AFLAC (NYSE:AFL) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.23. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. AFLAC had a return on equity of 11.98% and a net margin of 13.50%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 EPS. On average, equities analysts forecast that AFLAC Incorporated will post 4.64 earnings per share for the current fiscal year.

In related news, Director Charles D. Lake II sold 16,392 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $37.32, for a total transaction of $611,749.44. Following the completion of the sale, the director now directly owns 83,540 shares in the company, valued at $3,117,712.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karole Lloyd purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average price of $38.13 per share, with a total value of $38,130.00. Following the completion of the transaction, the director now directly owns 33,085 shares of the company’s stock, valued at approximately $1,261,531.05. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

AFL has been the subject of a number of research reports. Credit Suisse Group lifted their target price on AFLAC from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Tuesday, September 22nd. TheStreet raised AFLAC from a “c+” rating to a “b-” rating in a report on Wednesday, October 7th. ValuEngine downgraded AFLAC from a “sell” rating to a “strong sell” rating in a report on Monday, August 3rd. Morgan Stanley boosted their price target on AFLAC from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Tuesday, October 6th. Finally, SunTrust Banks decreased their price target on AFLAC from $44.00 to $37.00 and set a “hold” rating for the company in a report on Thursday, July 30th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $43.25.

AFLAC Profile

Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.

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Institutional Ownership by Quarter for AFLAC (NYSE:AFL)

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