Convergence Investment Partners LLC Takes $322,000 Position in Aflac Incorporated (NYSE:AFL)

Convergence Investment Partners LLC purchased a new stake in Aflac Incorporated (NYSE:AFL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,908 shares of the financial services provider’s stock, valued at approximately $322,000.

Several other large investors have also recently bought and sold shares of the stock. Fortitude Family Office LLC acquired a new position in shares of Aflac in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new position in Aflac during the 4th quarter worth $32,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Aflac during the third quarter worth $33,000. Criterion Capital Advisors LLC acquired a new stake in shares of Aflac during the fourth quarter worth $33,000. Finally, Arlington Trust Co LLC bought a new stake in shares of Aflac in the fourth quarter valued at about $35,000. 67.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company lowered their price target on shares of Aflac from $83.00 to $81.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 11th. UBS Group lifted their price target on shares of Aflac from $80.00 to $84.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Keefe, Bruyette & Woods increased their price target on Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a research report on Wednesday, April 10th. Piper Sandler lifted their price objective on Aflac from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, StockNews.com lowered Aflac from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $82.15.

Aflac Price Performance

Shares of NYSE:AFL opened at $83.61 on Monday. The firm has a 50 day simple moving average of $82.69 and a 200 day simple moving average of $81.78. The company has a market cap of $48.11 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.29 and a beta of 0.91. Aflac Incorporated has a one year low of $64.10 and a one year high of $86.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.06 and a quick ratio of 0.06.

Aflac (NYSE:AFL) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $1.25 earnings per share for the quarter, missing the consensus estimate of $1.47 by ($0.22). The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $4.44 billion. Aflac had a return on equity of 17.59% and a net margin of 24.92%. During the same quarter last year, the firm posted $1.29 earnings per share. Research analysts predict that Aflac Incorporated will post 6.41 earnings per share for the current fiscal year.

Insider Activity at Aflac

In other Aflac news, Director Masatoshi Koide sold 30,493 shares of Aflac stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $79.91, for a total transaction of $2,436,695.63. Following the transaction, the director now directly owns 86,090 shares of the company’s stock, valued at approximately $6,879,451.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Aflac news, Director Masatoshi Koide sold 30,493 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $79.91, for a total transaction of $2,436,695.63. Following the completion of the transaction, the director now owns 86,090 shares in the company, valued at approximately $6,879,451.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Albert Riggieri sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $83.34, for a total transaction of $666,720.00. Following the completion of the transaction, the senior vice president now owns 32,825 shares in the company, valued at approximately $2,735,635.50. The disclosure for this sale can be found here. Insiders sold 46,493 shares of company stock worth $3,765,706 over the last three months. Company insiders own 0.80% of the company’s stock.

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.