Aflac Incorporated (NYSE:AFL) Shares Bought by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI grew its position in Aflac Incorporated (NYSE:AFL) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,019 shares of the financial services provider’s stock after acquiring an additional 509 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Aflac were worth $673,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Y.D. More Investments Ltd purchased a new stake in Aflac in the 2nd quarter valued at $25,000. Darwin Wealth Management LLC acquired a new position in Aflac in the third quarter valued at $34,000. Covestor Ltd raised its holdings in shares of Aflac by 41.8% in the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after buying an additional 107 shares during the last quarter. Kennebec Savings Bank purchased a new stake in shares of Aflac in the third quarter valued at about $45,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Aflac during the third quarter worth about $51,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Stock Performance

AFL opened at $112.39 on Friday. The stock’s 50 day simple moving average is $110.73 and its 200 day simple moving average is $100.44. The stock has a market cap of $62.44 billion, a P/E ratio of 16.93, a P/E/G ratio of 2.14 and a beta of 0.96. Aflac Incorporated has a 1-year low of $75.07 and a 1-year high of $115.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. Aflac’s revenue was down 40.4% compared to the same quarter last year. As a group, equities analysts anticipate that Aflac Incorporated will post 7.22 EPS for the current fiscal year.

Aflac Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AFL shares. Truist Financial boosted their price target on Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company lifted their price objective on shares of Aflac from $106.00 to $107.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. TD Cowen began coverage on shares of Aflac in a research report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective for the company. Finally, Morgan Stanley lifted their target price on shares of Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Aflac has an average rating of “Hold” and a consensus price target of $97.93.

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.