Maj Invest Reduces Stake in Aflac to $59.98 Million

Maj Invest Holding A S has decreased its holdings in Aflac Incorporated (NYSE:AFL) by 2.4%, according to its most recent filing with the Securities and Exchange Commission. The financial services firm now owns 568,804 shares of Aflac, valued at approximately $59.98 million, having sold 14,072 shares during the second quarter of 2023.

Aflac comprises about 2.1% of Maj Invest’s total holdings, ranking as its 18th largest position. The firm held approximately 0.11% of Aflac’s total shares at the close of the latest quarter.

Institutional Investor Movements

Other institutional investors have also made adjustments to their stakes in Aflac. Triton Financial Group Inc acquired a new position in Aflac during the second quarter, investing approximately $1.78 million. Meanwhile, Pittenger & Anderson Inc increased its holdings by 2.1%, now owning 81,244 shares valued at $8.57 million after acquiring an additional 1,695 shares.

Berkeley Capital Partners LLC made a significant move by increasing its position in Aflac by 52.5%, now holding 11,570 shares worth $1.22 million after purchasing 3,983 additional shares. Drive Wealth Management LLC raised its stake by 8.2%, resulting in ownership of 2,782 shares valued at $293,000 following the acquisition of 212 shares. Lastly, Princeton Global Asset Management LLC boosted its holdings by 47.2%, now owning 1,708 shares valued at $180,000.

Overall, institutional investors hold approximately 67.44% of Aflac’s stock.

Insider Transactions and Market Performance

In related news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac on August 8, 2023, at an average price of $102.57, totaling $102,570. Following this transaction, Moskowitz retains 25,105 shares valued at around $2.58 million, reflecting a 3.83% reduction in his ownership.

As of the latest trading session, Aflac’s stock opened at $108.77. The company’s shares have demonstrated a 50-day simple moving average of $108.45 and a 200-day simple moving average of $105.41. Aflac has a market capitalization of $58.17 billion, with a price-to-earnings ratio of 24.66 and a beta of 0.86.

In its most recent quarterly earnings report released on February 27, 2023, Aflac reported earnings per share (EPS) of $1.07 and revenue of $5.91 billion. The company achieved a return on equity of 15.08% and a net margin of 15.32%. Analysts forecast an EPS of $6.88 for the current fiscal year.

Aflac’s board of directors also approved a share buyback program on August 12, 2023, allowing the company to repurchase up to 100 million outstanding shares. Such buyback programs often indicate that a company’s leadership believes its shares are undervalued.

Additionally, Aflac declared a quarterly dividend of $0.58, which was paid to shareholders on September 2, 2023. This dividend reflects an annualized total of $2.32 and a yield of 2.1%, with a payout ratio of 52.61%.

Aflac Incorporated, through its subsidiaries, offers supplemental health and life insurance products, operating primarily in Japan and the United States. The company provides various insurance products, including cancer, medical, nursing care, and life insurance, among others.