Global Retirement Partners LLC Cuts Position in Aflac Incorporated (NYSE:AFL)

Global Retirement Partners LLC reduced its stake in Aflac Incorporated (NYSE:AFL) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,508 shares of the financial services provider’s stock after selling 101 shares during the period. Global Retirement Partners LLC’s holdings in Aflac were worth $2,964,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in AFL. Y.D. More Investments Ltd purchased a new position in Aflac in the second quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in Aflac in the first quarter valued at approximately $29,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Aflac in the first quarter valued at approximately $34,000. Cedar Wealth Management LLC purchased a new position in Aflac in the first quarter valued at approximately $50,000. Finally, Fairscale Capital LLC purchased a new position in Aflac in the second quarter valued at approximately $54,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was 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 of the company’s stock, valued at approximately $1,796,552.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Aflac Price Performance

Shares of NYSE AFL opened at $115.01 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.10. The stock has a fifty day moving average price of $109.13 and a 200 day moving average price of $95.63. Aflac Incorporated has a 1-year low of $75.07 and a 1-year high of $115.50. The company has a market cap of $65.35 billion, a PE ratio of 12.69, a P/E/G ratio of 2.62 and a beta of 0.95.

Aflac (NYSE:AFL) last issued its quarterly 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. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same period last year, the company earned $1.58 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. Sell-side analysts forecast that Aflac Incorporated will post 6.76 EPS for the current 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, August 21st. Aflac’s dividend payout ratio (DPR) is currently 22.08%.

Wall Street Analysts Forecast Growth

AFL has been the topic of several recent analyst reports. Evercore ISI increased their price target on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, September 26th. Barclays initiated coverage on Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price objective for the company. Morgan Stanley increased their price objective on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. TD Cowen initiated coverage on Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price objective for the company. Finally, Piper Sandler increased their price objective on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $97.53.

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.