Raymond James Trust N.A. Cuts Stock Holdings in Aflac Incorporated (NYSE:AFL)

Raymond James Trust N.A. cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 43.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 202,275 shares of the financial services provider’s stock after selling 156,281 shares during the quarter. Raymond James Trust N.A.’s holdings in Aflac were worth $22,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Y.D. More Investments Ltd bought a new stake in shares of Aflac during the 2nd quarter worth $25,000. Darwin Wealth Management LLC purchased a new stake in Aflac during the third quarter valued at about $34,000. Covestor Ltd lifted its stake in Aflac by 41.8% during the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 107 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Aflac in the 3rd quarter worth about $45,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Aflac during the 3rd quarter valued at about $51,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Trading Up 1.7 %

NYSE:AFL opened at $112.09 on Friday. The company has a 50-day moving average price of $110.66 and a 200-day moving average price of $100.24. The stock has a market cap of $62.27 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 2.14 and a beta of 0.96. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. Aflac Incorporated has a 12 month low of $75.07 and a 12 month high of $115.50.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, topping 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 business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business posted $1.84 earnings per share. Aflac’s quarterly revenue was down 40.4% compared to the same quarter last year. Equities analysts predict that Aflac Incorporated will post 7.22 EPS for the current year.

Aflac Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 annualized dividend and a yield of 1.78%. Aflac’s payout ratio is 30.12%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AFL. Truist Financial boosted their target price on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Aflac from $106.00 to $107.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Morgan Stanley increased their target price on shares of Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. TD Cowen started coverage on shares of Aflac in a research note on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price target for the company. Finally, Barclays started coverage on Aflac in a research note on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price objective on the stock. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $97.93.

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.