Aflac Incorporated (NYSE:AFL) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp cut its holdings in shares of Aflac Incorporated (NYSE:AFL) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,979 shares of the financial services provider’s stock after selling 606 shares during the period. Peapack Gladstone Financial Corp’s holdings in Aflac were worth $4,693,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Strategic Financial Concepts LLC increased its holdings in Aflac by 7,001.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 667,706 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 658,303 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Aflac by 10,878.5% in the third quarter. International Assets Investment Management LLC now owns 559,903 shares of the financial services provider’s stock worth $62,597,000 after buying an additional 554,803 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Aflac by 471.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the financial services provider’s stock valued at $67,080,000 after acquiring an additional 495,000 shares in the last quarter. Truist Financial Corp boosted its stake 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 valued at $172,338,000 after acquiring an additional 405,847 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in Aflac during the 3rd quarter worth $42,290,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Up 0.1 %

Aflac stock opened at $104.52 on Friday. Aflac Incorporated has a 52 week low of $75.07 and a 52 week high of $115.50. The stock has a market cap of $58.06 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 2.09 and a beta of 0.97. The company’s 50-day moving average price is $110.14 and its two-hundred day moving average price is $102.84. 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 (NYSE:AFL) last released its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.47. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The firm’s revenue for the quarter was down 40.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 earnings per share. On average, analysts expect that Aflac Incorporated will post 7.27 EPS for the current fiscal year.

Aflac Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be issued a dividend of $0.58 per share. 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%. The ex-dividend date is Wednesday, February 19th. Aflac’s payout ratio is presently 30.12%.

Analyst Upgrades and Downgrades

AFL has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Wells Fargo & Company lifted their target price on Aflac to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. 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 raised their price objective on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted 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. Three 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.73.

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.