Brookstone Capital Management Boosts Stock Position in Aflac Incorporated (NYSE:AFL)

Brookstone Capital Management lifted its stake in Aflac Incorporated (NYSE:AFL) by 10.2% in the first quarter, Holdings Channel.com reports. The fund owned 19,751 shares of the financial services provider’s stock after purchasing an additional 1,828 shares during the period. Brookstone Capital Management’s holdings in Aflac were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Fortitude Family Office LLC purchased a new position in Aflac during the 4th quarter valued at about $25,000. Atwood & Palmer Inc. boosted its position in shares of Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 140 shares during the period. Bruce G. Allen Investments LLC purchased a new position in Aflac during the fourth quarter valued at approximately $32,000. Criterion Capital Advisors LLC bought a new stake in Aflac during the 4th quarter worth approximately $33,000. Finally, Arlington Trust Co LLC bought a new stake in Aflac during the 4th quarter worth approximately $35,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Trading Up 0.2 %

Shares of AFL opened at $89.31 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.08 and a current ratio of 0.08. Aflac Incorporated has a fifty-two week low of $68.34 and a fifty-two week high of $91.15. The firm has a 50 day moving average price of $87.03 and a 200-day moving average price of $83.82. The firm has a market cap of $50.75 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 2.20 and a beta of 0.96.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Aflac Incorporated will post 6.46 earnings per share for the current year.

Aflac Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.24%. This is a positive change from Aflac’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, May 21st. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Analysts Set New Price Targets

A number of research firms have recently commented on AFL. Jefferies Financial Group reduced their price target on shares of Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research report on Friday. Piper Sandler upped their target price on Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods lifted their price target on Aflac from $83.00 to $87.00 and gave the company a “market perform” rating in a research report on Wednesday, April 10th. Truist Financial upped their price objective on shares of Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Aflac from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.46.

Insiders Place Their Bets

In other news, Director Joseph L. Moskowitz sold 600 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the completion of the sale, the director now owns 27,550 shares of the company’s stock, valued at $2,337,342. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Charles D. Lake II sold 22,378 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the transaction, the director now owns 61,522 shares in the company, valued at approximately $5,381,329.34. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph L. Moskowitz sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total value of $50,904.00. Following the transaction, the director now directly owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

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.