Aflac Incorporated (NYSE:AFL) Shares Sold by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its position in shares of Aflac Incorporated (NYSE:AFL) by 0.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 26,616 shares of the financial services provider’s stock after selling 188 shares during the period. Pinnacle Financial Partners Inc’s holdings in Aflac were worth $2,976,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Y.D. More Investments Ltd acquired a new stake in shares of Aflac during the second quarter worth about $25,000. Covestor Ltd increased its stake in Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after buying an additional 107 shares during the period. Kennebec Savings Bank acquired a new stake in Aflac during the 3rd quarter worth approximately $45,000. Catalyst Capital Advisors LLC purchased a new position in Aflac in the 3rd quarter valued at approximately $51,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Aflac by 116.7% in the third quarter. Valued Wealth Advisors LLC now owns 479 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 258 shares in the last quarter. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Stock Performance

Shares of Aflac stock opened at $110.44 on Thursday. The stock has a market capitalization of $61.35 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 2.13 and a beta of 0.96. The firm’s fifty day simple moving average is $110.36 and its 200-day simple moving average is $99.14. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08. Aflac Incorporated has a 12 month low of $75.07 and a 12 month high of $115.50.

Aflac (NYSE:AFL) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.47. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The business’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 earnings per share. As a group, equities analysts forecast that Aflac Incorporated will post 7.22 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 20th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Wednesday, November 20th. Aflac’s dividend payout ratio (DPR) is presently 30.12%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Bank of America lifted their target price on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 10th. TD Cowen began coverage on Aflac in a research note on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price objective for the company. Barclays initiated coverage on shares of Aflac in a research note on Wednesday, September 4th. They set an “underweight” rating and a $96.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Aflac from $106.00 to $107.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler lifted their price objective on shares of Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Aflac presently has an average rating of “Hold” and an average price target of $97.93.

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.