Central Pacific Bank Trust Division Reduces Holdings in Aflac Incorporated (NYSE:AFL)

Central Pacific Bank Trust Division trimmed its stake in Aflac Incorporated (NYSE:AFL) by 7.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,552 shares of the financial services provider’s stock after selling 195 shares during the period. Central Pacific Bank Trust Division’s holdings in Aflac were worth $285,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB grew its position in Aflac by 6.7% during the 1st quarter. Nordea Investment Management AB now owns 1,806,475 shares of the financial services provider’s stock worth $155,140,000 after purchasing an additional 113,226 shares during the last quarter. Czech National Bank grew its position in Aflac by 6.4% during the 2nd quarter. Czech National Bank now owns 98,535 shares of the financial services provider’s stock worth $8,800,000 after purchasing an additional 5,912 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Aflac by 3.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 718,067 shares of the financial services provider’s stock worth $61,653,000 after purchasing an additional 22,637 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Aflac by 13.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 708,248 shares of the financial services provider’s stock worth $60,810,000 after purchasing an additional 86,578 shares during the last quarter. Finally, M&G Plc purchased a new position in Aflac during the 2nd quarter worth $2,535,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Down 0.6 %

Shares of NYSE AFL opened at $113.53 on Friday. 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 Incorporated has a 52 week low of $74.89 and a 52 week high of $114.37. The firm has a 50-day moving average price of $106.01 and a 200 day moving average price of $93.66. The stock has a market capitalization of $64.51 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business earned $1.58 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts anticipate that Aflac Incorporated will post 6.75 EPS for the current fiscal year.

Aflac Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, August 21st. Aflac’s payout ratio is currently 22.08%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AFL shares. Barclays started coverage on shares of Aflac in a research report on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price objective on the stock. Citigroup lifted their target price on shares of Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Truist Financial lifted their target price on shares of Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Jefferies Financial Group lowered their target price on shares of Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.43.

Insiders Place Their Bets

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction dated 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 transaction, the director now owns 18,158 shares in the company, valued at $1,796,552.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

About Aflac

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.