Studio Investment Management LLC Sells 1,219 Shares of Aflac Incorporated (NYSE:AFL)

Studio Investment Management LLC reduced its stake in Aflac Incorporated (NYSE:AFL) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,514 shares of the financial services provider’s stock after selling 1,219 shares during the period. Studio Investment Management LLC’s holdings in Aflac were worth $1,287,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AFL. Y.D. More Investments Ltd bought a new stake in Aflac during the second quarter worth $25,000. Darwin Wealth Management LLC bought a new stake in Aflac during the third quarter worth $34,000. Covestor Ltd lifted its stake in Aflac by 41.8% during the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 107 shares during the last quarter. Kennebec Savings Bank bought a new stake in Aflac during the third quarter worth $45,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Aflac during the third quarter worth $51,000. 67.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company upped their target price on Aflac from $106.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Truist Financial upped their target price on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. UBS Group upped their price target on shares of Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley upped their price target on shares of Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $97.93.

Aflac Trading Up 1.7 %

Shares of AFL stock opened at $112.09 on Friday. The company has a 50 day moving average of $110.66 and a 200-day moving average of $100.24. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.32. Aflac Incorporated has a 12-month low of $75.07 and a 12-month high of $115.50. The firm has a market cap of $62.27 billion, a P/E ratio of 16.88, a PEG ratio of 2.14 and a beta of 0.96.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $1.84 EPS. Aflac’s quarterly revenue was down 40.4% compared to the same quarter last year. Sell-side analysts anticipate that Aflac Incorporated will post 7.22 earnings per share for the current year.

Aflac Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 dividend on an annualized basis and a yield of 1.78%. Aflac’s dividend payout ratio is 30.12%.

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.