Aflac Incorporated (NYSE:AFL) Stock Holdings Lowered by Pinnacle West Asset Management Inc.

Pinnacle West Asset Management Inc. lessened its position in Aflac Incorporated (NYSE:AFL) by 4.4% during the third quarter, Holdings Channel reports. The fund owned 8,710 shares of the financial services provider’s stock after selling 400 shares during the quarter. Pinnacle West Asset Management Inc.’s holdings in Aflac were worth $974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Aflac by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,807,079 shares of the financial services provider’s stock worth $429,319,000 after acquiring an additional 285,576 shares during the period. APG Asset Management N.V. increased its holdings in shares of 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 acquiring an additional 31,752 shares during the period. Guinness Asset Management LTD increased its holdings in shares of Aflac by 3.8% in the 3rd quarter. Guinness Asset Management LTD now owns 2,276,325 shares of the financial services provider’s stock worth $254,382,000 after acquiring an additional 83,289 shares during the period. ProShare Advisors LLC increased its holdings in shares of Aflac by 5.6% in the 2nd quarter. ProShare Advisors LLC now owns 2,220,125 shares of the financial services provider’s stock worth $198,279,000 after acquiring an additional 117,504 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Aflac by 26.6% in the 2nd quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock worth $172,338,000 after acquiring an additional 405,847 shares during the period. Institutional investors and hedge funds own 67.44% of the company’s stock.

Wall Street Analyst Weigh In

AFL has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. raised their target price on shares of Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Piper Sandler raised their target price on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Evercore ISI raised their target price 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. Finally, Barclays initiated coverage on shares of Aflac in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Aflac presently has an average rating of “Hold” and an average target price of $97.53.

Aflac Trading Down 0.4 %

Shares of AFL traded down $0.47 during midday trading on Thursday, hitting $111.67. The stock had a trading volume of 284,130 shares, compared to its average volume of 2,215,666. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29. The firm has a market cap of $63.45 billion, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. The business has a 50-day simple moving average of $110.03 and a two-hundred day simple moving average of $96.48. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.60 by $0.23. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $1.58 earnings per share. As a group, equities analysts forecast that Aflac Incorporated will post 6.76 EPS for the current year.

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 2nd. Investors of record on Wednesday, August 21st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend was Wednesday, August 21st. Aflac’s payout ratio is presently 22.08%.

Insider Activity at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

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.