Lake Street Advisors Group LLC Sells 283 Shares of Aflac Incorporated (NYSE:AFL)

Lake Street Advisors Group LLC reduced its stake in Aflac Incorporated (NYSE:AFL) by 1.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,737 shares of the financial services provider’s stock after selling 283 shares during the period. Lake Street Advisors Group LLC’s holdings in Aflac were worth $2,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of AFL. Savant Capital LLC boosted its stake in Aflac by 28.8% during the second quarter. Savant Capital LLC now owns 11,842 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 2,647 shares in the last quarter. Howard Capital Management Inc. bought a new position in shares of Aflac during the 2nd quarter valued at approximately $202,000. Candriam S.C.A. grew its holdings in Aflac by 5.3% during the second quarter. Candriam S.C.A. now owns 35,415 shares of the financial services provider’s stock valued at $3,163,000 after purchasing an additional 1,772 shares during the period. Private Advisor Group LLC raised its stake in Aflac by 11.5% in the 2nd quarter. Private Advisor Group LLC now owns 18,037 shares of the financial services provider’s stock valued at $1,611,000 after acquiring an additional 1,862 shares during the period. Finally, National Bank of Canada FI raised its position in shares of Aflac by 8.0% in the second quarter. National Bank of Canada FI now owns 282,874 shares of the financial services provider’s stock valued at $25,192,000 after purchasing an additional 21,053 shares during the period. Institutional investors and hedge funds own 67.44% of the company’s stock.

Aflac Trading Down 0.8 %

Shares of NYSE:AFL opened at $108.86 on Friday. The company has a market capitalization of $61.86 billion, a PE ratio of 12.02, a P/E/G ratio of 2.61 and a beta of 0.95. The business’s fifty day simple moving average is $99.12 and its 200-day simple moving average is $89.89. Aflac Incorporated has a 12-month low of $73.79 and a 12-month high of $111.14. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The firm had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.10 billion. During the same period last year, the firm posted $1.58 EPS. Aflac’s revenue was down .7% on a year-over-year basis. As a group, equities research analysts predict that Aflac Incorporated will post 6.73 earnings per share for the current fiscal year.

Aflac Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Investors of record on Wednesday, August 21st were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 annualized dividend and a yield of 1.84%. Aflac’s dividend payout ratio is presently 22.08%.

Wall Street Analyst Weigh In

Several brokerages have commented on AFL. Piper Sandler raised their price target on shares of Aflac from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, June 28th. JPMorgan Chase & Co. increased their target price on shares of Aflac from $80.00 to $83.00 and gave the company a “neutral” rating in a report on Tuesday, July 2nd. Barclays started coverage on shares of Aflac in a report on Wednesday. They set an “underweight” rating and a $96.00 price target for the company. Citigroup raised their price target on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Finally, Jefferies Financial Group cut their price objective on Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a research report on Friday, June 28th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $92.50.

Insider Activity

In other Aflac 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 completion of the sale, the director now directly owns 18,158 shares in the company, valued at approximately $1,796,552.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.90% of the company’s stock.

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.