Corebridge Financial Inc. Has $12.75 Million Stock Position in Aflac Incorporated (NYSE:AFL)

Corebridge Financial Inc. cut its holdings in Aflac Incorporated (NYSE:AFL) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,277 shares of the financial services provider’s stock after selling 6,757 shares during the period. Corebridge Financial Inc.’s holdings in Aflac were worth $12,752,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in Aflac by 75.2% in the 3rd 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 last quarter. Transamerica Financial Advisors Inc. bought a new position in shares of Aflac in the 3rd quarter valued at about $979,000. Roxbury Financial LLC acquired a new stake in shares of Aflac in the fourth quarter valued at about $948,000. FMR LLC raised its holdings in Aflac by 4.0% during the third quarter. FMR LLC now owns 1,202,104 shares of the financial services provider’s stock worth $134,395,000 after acquiring an additional 45,745 shares in the last quarter. Finally, Willis Investment Counsel boosted its position in Aflac by 1.2% during the fourth 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 during the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets assumed coverage on Aflac in a research note on Thursday, January 23rd. They set a “market perform” rating and a $111.00 price objective on the stock. Evercore ISI cut their price target on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods lowered their price objective on shares of Aflac from $107.00 to $104.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 12th. StockNews.com upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Finally, Wells Fargo & Company lowered their price target on Aflac from $104.00 to $102.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $103.36.

Insider Buying and Selling at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $107.63, for a total value 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. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles D. Lake II sold 29,802 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $107.29, for a total transaction of $3,197,456.58. Following the sale, the director now owns 49,962 shares in the company, valued at $5,360,422.98. The trade was a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,546 shares of company stock valued at $5,863,616 in the last three months. Corporate insiders own 0.90% of the company’s stock.

Aflac Price Performance

Shares of Aflac stock opened at $109.56 on Wednesday. The company has a 50-day simple moving average of $106.21 and a two-hundred day simple moving average of $107.62. Aflac Incorporated has a twelve month low of $79.31 and a twelve month high of $115.50. The stock has a market capitalization of $59.88 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 3.24 and a beta of 0.93. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last released 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 net margin of 28.76% and a return on equity of 16.20%. Analysts forecast that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac Company 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.