Flagship Harbor Advisors LLC increased its position in Aflac Incorporated (NYSE:AFL – Free Report) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,635 shares of the financial services provider’s stock after acquiring an additional 435 shares during the period. Flagship Harbor Advisors LLC’s holdings in Aflac were worth $583,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Darwin Wealth Management LLC purchased a new stake in shares of Aflac during the 3rd quarter valued at about $34,000. Raelipskie Partnership purchased a new position in shares of Aflac in the third quarter worth approximately $38,000. Covestor Ltd grew its position in Aflac by 41.8% during the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after buying an additional 107 shares during the period. Kennebec Savings Bank purchased a new stake in Aflac during the third quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC bought a new position in Aflac in the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.
Insider Transactions at Aflac
In related news, EVP Audrey B. Tillman sold 24,744 shares of Aflac stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $103.40, for a total value of $2,558,529.60. Following the completion of the sale, the executive vice president now directly owns 222,618 shares in the company, valued at $23,018,701.20. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.
Aflac Trading Down 0.7 %
Aflac (NYSE:AFL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.47. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the firm posted $1.84 earnings per share. The company’s revenue was down 40.4% on a year-over-year basis. On average, research analysts anticipate that Aflac Incorporated will post 7.26 EPS for the current year.
Aflac Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Wednesday, February 19th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 2.16%. This is a boost from Aflac’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, February 19th. Aflac’s dividend payout ratio is currently 30.12%.
Wall Street Analysts Forecast Growth
AFL has been the subject of a number of recent research reports. BMO Capital Markets began coverage on shares of Aflac in a research report on Thursday, January 23rd. They set a “market perform” rating and a $111.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Aflac from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Evercore ISI reduced their price objective on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a research note on Wednesday, December 4th. Piper Sandler raised their target price on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial raised their price objective on Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $102.67.
Get Our Latest Stock Report on Aflac
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.
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