ForthRight Wealth Management LLC Decreases Stake in Aflac Incorporated (NYSE:AFL)

by · The Markets Daily

ForthRight Wealth Management LLC cut its stake in Aflac Incorporated (NYSE:AFL – Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,263 shares of the financial services provider’s stock after selling 459 shares during the period. ForthRight Wealth Management LLC’s holdings in Aflac were worth $751,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Aflac by 6.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,694,511 shares of the financial services provider’s stock worth $524,846,000 after purchasing an additional 281,148 shares during the last quarter. APG Asset Management N.V. increased its holdings in Aflac by 1.3% in the 2nd quarter. APG Asset Management N.V. now owns 2,429,316 shares of the financial services provider’s stock worth $202,437,000 after buying an additional 31,752 shares during the period. Guinness Asset Management LTD raised its position in Aflac by 5.2% during the 4th quarter. Guinness Asset Management LTD now owns 2,395,045 shares of the financial services provider’s stock worth $247,682,000 after buying an additional 118,720 shares during the last quarter. Truist Financial Corp raised its position in Aflac by 26.6% during the 2nd quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock worth $172,338,000 after buying an additional 405,847 shares during the last quarter. Finally, National Pension Service lifted its stake in Aflac by 8.9% during the 3rd quarter. National Pension Service now owns 1,662,514 shares of the financial services provider’s stock valued at $185,869,000 after acquiring an additional 136,238 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Aflac from $103.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 14th. TD Cowen started coverage on Aflac in a research report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price target on the stock. Keefe, Bruyette & Woods decreased their price objective on Aflac from $108.00 to $107.00 and set a “market perform” rating for the company in a report on Friday, January 10th. Piper Sandler raised their target price on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.07.

Check Out Our Latest Analysis on Aflac

Insider Activity at Aflac

In related news, EVP Audrey B. Tillman sold 24,744 shares of the company’s stock in a transaction dated Friday, December 27th. The shares were sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the completion of the sale, the executive vice president now owns 222,618 shares of the company’s stock, valued at approximately $23,018,701.20. This represents a 10.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.80% of the stock is owned by corporate insiders.

Aflac Stock Performance

NYSE:AFL opened at $106.36 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $59.09 billion, a PE ratio of 16.02, a P/E/G ratio of 2.20 and a beta of 1.00. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50. The company has a fifty day moving average of $106.24 and a two-hundred day moving average of $105.72.

Aflac (NYSE:AFL – Get Free Report) last released its quarterly 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. 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 prior year, the firm earned $1.84 EPS. The company’s revenue for the quarter was down 40.4% on a year-over-year basis. As a group, research analysts forecast that Aflac Incorporated will post 7.26 earnings per share for the current fiscal year.

Aflac Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be paid a $0.58 dividend. The ex-dividend date is Wednesday, February 19th. This is a positive change from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.18%. Aflac’s payout ratio is currently 34.94%.

Aflac Profile

(Free Report)

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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