Atlantic Union Bankshares Corp Grows Stock Holdings in Aflac Incorporated (NYSE:AFL)

Atlantic Union Bankshares Corp grew its position in shares of Aflac Incorporated (NYSE:AFL) by 17.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,029 shares of the financial services provider’s stock after purchasing an additional 5,329 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Aflac were worth $3,128,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. grew its stake in shares of Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 140 shares during the last quarter. OFI Invest Asset Management bought a new position in Aflac in the 1st quarter worth $29,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Aflac in the 1st quarter worth about $34,000. Sachetta LLC purchased a new stake in shares of Aflac in the 4th quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in shares of Aflac during the 4th quarter valued at about $39,000. Institutional investors own 67.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group lowered their price target on shares of Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Truist Financial boosted their price target on Aflac from $82.00 to $100.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Bank of America upped their target price on shares of Aflac from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Morgan Stanley increased their price objective on shares of Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Citigroup lifted their target price on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Aflac has an average rating of “Hold” and an average target price of $91.69.

Insider Transactions at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now directly owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.

Aflac Price Performance

Shares of NYSE:AFL traded up $0.73 during trading on Friday, hitting $107.34. 1,526,748 shares of the stock were exchanged, compared to its average volume of 2,227,683. The company has a market cap of $60.99 billion, a PE ratio of 11.85, a P/E/G ratio of 2.76 and a beta of 0.95. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $95.14 and a two-hundred day moving average price of $87.76. Aflac Incorporated has a 12-month low of $72.95 and a 12-month high of $107.48.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.23. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the business posted $1.58 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. On average, analysts forecast that Aflac Incorporated will post 6.48 EPS for the current year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, August 21st. Aflac’s dividend payout ratio is presently 22.08%.

Aflac Company 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.