Main Street Financial Solutions LLC Sells 419 Shares of Aflac Incorporated (NYSE:AFL)

Main Street Financial Solutions LLC decreased its holdings in Aflac Incorporated (NYSE:AFL) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,162 shares of the financial services provider’s stock after selling 419 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Aflac were worth $1,360,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Spinnaker Trust lifted its holdings in Aflac by 2.7% during the third quarter. Spinnaker Trust now owns 3,620 shares of the financial services provider’s stock valued at $405,000 after purchasing an additional 95 shares in the last quarter. Secure Asset Management LLC raised its position in shares of Aflac by 1.0% during the 3rd quarter. Secure Asset Management LLC now owns 9,783 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 96 shares during the period. Ascent Group LLC raised its position in shares of Aflac by 0.6% during the 2nd quarter. Ascent Group LLC now owns 17,231 shares of the financial services provider’s stock valued at $1,539,000 after purchasing an additional 99 shares during the period. Ieq Capital LLC lifted its stake in shares of Aflac by 0.5% during the 2nd quarter. Ieq Capital LLC now owns 21,775 shares of the financial services provider’s stock valued at $1,945,000 after buying an additional 101 shares in the last quarter. Finally, New Century Financial Group LLC boosted its holdings in Aflac by 2.5% in the 3rd quarter. New Century Financial Group LLC now owns 4,198 shares of the financial services provider’s stock worth $469,000 after buying an additional 101 shares during the period. 67.44% of the stock is currently owned by institutional investors.

Aflac Price Performance

Shares of Aflac stock opened at $110.44 on Thursday. The stock has a market cap of $61.35 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. 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 50 day moving average price of $110.36 and a 200-day moving average price of $99.14. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company earned $1.84 earnings per share. Aflac’s revenue was down 40.4% on a year-over-year basis. Equities analysts expect 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 dividend of $0.50 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.81%. Aflac’s dividend payout ratio is presently 30.12%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on AFL shares. Piper Sandler upped their price target on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Bank of America upped their target price on shares of Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Evercore ISI lifted their price target on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, September 26th. Citigroup boosted their price target on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, TD Cowen started coverage on Aflac in a research report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective for the company. Three research 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $97.93.

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.