Teachers Retirement System of The State of Kentucky Lowers Stock Holdings in Aflac Incorporated (NYSE:AFL)

Teachers Retirement System of The State of Kentucky cut its holdings in Aflac Incorporated (NYSE:AFL) by 8.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,426 shares of the financial services provider’s stock after selling 3,650 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Aflac were worth $4,408,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. boosted its holdings in Aflac by 4.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 27,901 shares of the financial services provider’s stock worth $2,492,000 after buying an additional 1,269 shares during the last quarter. Gradient Investments LLC boosted its stake in Aflac by 8.6% during the 2nd quarter. Gradient Investments LLC now owns 9,403 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 743 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Aflac by 9.4% during the second quarter. Raymond James & Associates now owns 866,732 shares of the financial services provider’s stock worth $77,408,000 after buying an additional 74,312 shares in the last quarter. Chapin Davis Inc. acquired a new stake in shares of Aflac in the second quarter valued at about $221,000. Finally, Western Wealth Management LLC acquired a new stake in shares of Aflac in the second quarter valued at about $241,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Stock Performance

NYSE:AFL opened at $104.52 on Friday. The stock has a market capitalization of $58.06 billion, a P/E ratio of 15.74, a PEG ratio of 2.09 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50. The company has a 50 day moving average price of $110.14 and a 200 day moving average price of $102.73.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company’s revenue was down 40.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 earnings per share. Equities research analysts forecast that Aflac Incorporated will post 7.27 EPS for the current year.

Aflac Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Wednesday, February 19th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend 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 yield of 2.22%. Aflac’s dividend payout ratio is 30.12%.

Analyst Ratings Changes

Several analysts recently issued reports on AFL shares. Barclays began coverage on shares of Aflac in a research note on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price objective for the company. TD Cowen began coverage on Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price target for the company. Truist Financial lifted their price objective 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 target price on Aflac to $107.00 and gave the company a “hold” rating in a report on Tuesday, December 3rd. Finally, Evercore ISI reduced their price target on Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a report on Wednesday, December 4th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $98.73.

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.