Powers Advisory Group LLC Lowers Stock Position in Aflac Incorporated (NYSE:AFL)

Powers Advisory Group LLC decreased its position in Aflac Incorporated (NYSE:AFL) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,705 shares of the financial services provider’s stock after selling 107 shares during the period. Powers Advisory Group LLC’s holdings in Aflac were worth $383,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC bought a new position in Aflac during the third quarter worth about $34,000. Raelipskie Partnership purchased a new stake in shares of Aflac during the 3rd quarter valued at approximately $38,000. Covestor Ltd boosted its holdings in Aflac by 41.8% in the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after buying an additional 107 shares during the period. Kennebec Savings Bank purchased a new position in Aflac in the 3rd quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Aflac during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on AFL shares. Barclays increased their price objective on Aflac from $96.00 to $98.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods cut their price objective on shares of Aflac from $108.00 to $107.00 and set a “market perform” rating for the company in a research report on Friday, January 10th. Truist Financial upped their target price on shares of Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, November 1st. BMO Capital Markets began coverage on shares of Aflac in a research note on Thursday, January 23rd. They issued a “market perform” rating and a $111.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on shares of Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $102.67.

Aflac Trading Up 0.6 %

Shares of AFL stock opened at $108.25 on Friday. The business has a 50-day moving average price of $105.68 and a two-hundred day moving average price of $106.26. Aflac Incorporated has a 12-month low of $75.07 and a 12-month high of $115.50. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.32. The firm has a market cap of $60.14 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 2.17 and a beta of 1.00.

Aflac (NYSE:AFL) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.47. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The company had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the company earned $1.84 EPS. The firm’s revenue was down 40.4% compared to the same quarter last year. Equities analysts anticipate that Aflac Incorporated will post 7.26 EPS for the current fiscal year.

Aflac Increases Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, February 19th. This is a boost from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 annualized dividend and a yield of 2.14%. Aflac’s dividend payout ratio is currently 30.12%.

Insider Buying and Selling

In other news, EVP Audrey B. Tillman sold 24,744 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $103.40, for a total value of $2,558,529.60. Following the transaction, the executive vice president now owns 222,618 shares in the company, valued at approximately $23,018,701.20. This trade represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by corporate insiders.

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.