1858 Wealth Management LLC Takes $240,000 Position in Aflac Incorporated (NYSE:AFL)

by · The Markets Daily

1858 Wealth Management LLC acquired a new position in shares of Aflac Incorporated (NYSE:AFL – Free Report) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 2,144 shares of the financial services provider’s stock, valued at approximately $240,000.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake in Aflac by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,807,079 shares of the financial services provider’s stock worth $429,319,000 after acquiring an additional 285,576 shares during the last quarter. APG Asset Management N.V. increased its position in Aflac by 1.3% during the 2nd quarter. APG Asset Management N.V. now owns 2,429,316 shares of the financial services provider’s stock worth $202,437,000 after purchasing an additional 31,752 shares in the last quarter. Guinness Asset Management LTD raised its holdings in Aflac by 3.8% in the third quarter. Guinness Asset Management LTD now owns 2,276,325 shares of the financial services provider’s stock valued at $254,382,000 after buying an additional 83,289 shares during the period. ProShare Advisors LLC raised its holdings in Aflac by 5.6% in the second quarter. ProShare Advisors LLC now owns 2,220,125 shares of the financial services provider’s stock valued at $198,279,000 after buying an additional 117,504 shares during the period. Finally, Truist Financial Corp lifted its position in Aflac by 26.6% during the second quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock valued at $172,338,000 after buying an additional 405,847 shares in the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Performance

AFL stock traded down $1.85 during trading on Monday, hitting $112.65. 419,425 shares of the company’s stock traded hands, compared to its average volume of 2,231,003. The stock has a market capitalization of $64.01 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. Aflac Incorporated has a 52 week low of $75.07 and a 52 week high of $115.50. The stock has a fifty day moving average price of $109.40 and a two-hundred day moving average price of $95.98. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL – Get Free Report) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.23. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. Aflac’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.58 earnings per share. As a group, equities analysts anticipate that Aflac Incorporated will post 6.76 EPS for the current fiscal year.

Aflac Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.78%. Aflac’s dividend payout ratio (DPR) is 22.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on AFL shares. Bank of America raised their target price on shares of Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Citigroup boosted their price objective on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Piper Sandler increased their target price on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on Aflac from $90.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Truist Financial boosted their price objective on shares of Aflac from $82.00 to $100.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Aflac currently has a consensus rating of “Hold” and a consensus target price of $97.53.

Read Our Latest Stock Report on Aflac

Insider Activity at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now directly owns 18,158 shares in the company, valued at $1,796,552.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.90% of the company’s stock.

Aflac Company Profile

(Free Report)

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.

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