Aflac Incorporated (NYSE:AFL) Shares Sold by Farmers Trust Co.

Farmers Trust Co. reduced its position in Aflac Incorporated (NYSE:AFL) by 15.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,120 shares of the financial services provider’s stock after selling 728 shares during the quarter. Farmers Trust Co.’s holdings in Aflac were worth $461,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd acquired a new stake in Aflac during the 2nd quarter worth $25,000. Atwood & Palmer Inc. boosted its stake in shares of Aflac by 80.0% during the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after buying an additional 140 shares during the period. OFI Invest Asset Management acquired a new position in Aflac in the 1st quarter valued at about $29,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Aflac during the 1st quarter worth approximately $34,000. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Aflac during the first quarter worth $50,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total transaction of $197,880.00. Following the completion of the sale, the director now directly owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Aflac Stock Performance

NYSE:AFL opened at $113.53 on Friday. Aflac Incorporated has a twelve month low of $74.89 and a twelve month high of $114.37. The firm has a market capitalization of $64.51 billion, a price-to-earnings ratio of 12.53, a PEG ratio of 2.60 and a beta of 0.95. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29. The firm’s fifty day simple moving average is $106.01 and its 200 day simple moving average is $93.66.

Aflac (NYSE:AFL) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.23. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 earnings per share. As a group, equities research analysts expect that Aflac Incorporated will post 6.75 earnings per share for the current fiscal year.

Aflac Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.76%. Aflac’s dividend payout ratio is currently 22.08%.

Wall Street Analysts Forecast Growth

AFL has been the subject of a number of recent analyst reports. Barclays started coverage on shares of Aflac in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price objective for the company. Bank of America lifted their price target on shares of 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. Piper Sandler lifted their price target on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their price objective on shares of Aflac from $81.00 to $90.00 and gave the company an “equal weight” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $95.43.

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.