Citizens Financial Group Inc. RI Increases Stock Holdings in Aflac Incorporated (NYSE:AFL)

Citizens Financial Group Inc. RI increased its holdings in Aflac Incorporated (NYSE:AFL) by 55.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,510 shares of the financial services provider’s stock after buying an additional 1,974 shares during the period. Citizens Financial Group Inc. RI’s holdings in Aflac were worth $492,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in shares of Aflac by 3.8% during the 4th quarter. Brown Advisory Inc. now owns 25,636 shares of the financial services provider’s stock worth $2,115,000 after purchasing an additional 932 shares during the last quarter. Norges Bank purchased a new stake in shares of Aflac in the fourth quarter valued at $197,820,000. Thoroughbred Financial Services LLC boosted its stake in shares of Aflac by 34.5% during the fourth quarter. Thoroughbred Financial Services LLC now owns 5,783 shares of the financial services provider’s stock valued at $477,000 after acquiring an additional 1,484 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in Aflac during the 4th quarter worth about $484,000. Finally, Sachetta LLC acquired a new position in Aflac in the 4th quarter valued at about $35,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Stock Down 0.6 %

Shares of NYSE AFL opened at $108.95 on Thursday. The stock has a fifty day moving average price of $102.27 and a 200 day moving average price of $91.57. The company has a market cap of $61.91 billion, a P/E ratio of 12.03, a P/E/G ratio of 2.53 and a beta of 0.95. Aflac Incorporated has a 12-month low of $74.89 and a 12-month high of $111.14. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.60 by $0.23. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the company posted $1.58 EPS. Aflac’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that Aflac Incorporated will post 6.75 EPS for the current fiscal year.

Aflac Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 2nd. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. Aflac’s dividend payout ratio is presently 22.08%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays began coverage on shares of Aflac in a report on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price target for the company. Jefferies Financial Group cut their price target on Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a report on Friday, June 28th. Bank of America raised their price objective on Aflac from $108.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Morgan Stanley upped their target price on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Piper Sandler lifted their price target on Aflac from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, June 28th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Aflac currently has a consensus rating of “Hold” and an average target price of $92.50.

Insider Buying and Selling at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the completion of the sale, the director now owns 18,158 shares in the company, valued at $1,796,552.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by insiders.

Aflac 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.