Aflac Incorporated (NYSE:AFL) Shares Sold by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC decreased its holdings in shares of Aflac Incorporated (NYSE:AFL) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,556 shares of the financial services provider’s stock after selling 253 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Aflac were worth $1,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Darwin Wealth Management LLC acquired a new position in Aflac during the third quarter worth $34,000. Raelipskie Partnership acquired a new stake in Aflac in the third quarter valued at $38,000. Covestor Ltd boosted its position in shares of Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 107 shares in the last quarter. Kennebec Savings Bank acquired a new position in shares of Aflac during the 3rd quarter worth $45,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Aflac in the 3rd quarter valued at about $51,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Audrey B. Tillman sold 24,744 shares of the company’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 transaction of $2,558,529.60. Following the completion of the transaction, the executive vice president now owns 222,618 shares of the company’s stock, valued at approximately $23,018,701.20. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on AFL shares. JPMorgan Chase & Co. boosted their price objective on shares of Aflac from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price target on Aflac from $108.00 to $107.00 and set a “market perform” rating on the stock in a research note on Friday, January 10th. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a research note on Wednesday, January 8th. Piper Sandler boosted their target price on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company raised their price target on Aflac from $103.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $102.67.

Aflac Stock Performance

Shares of NYSE AFL opened at $104.43 on Friday. The company has a 50-day simple moving average of $106.12 and a 200-day simple moving average of $105.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $58.02 billion, a PE ratio of 15.73, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. Aflac Incorporated has a 12 month low of $75.07 and a 12 month high of $115.50.

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

Aflac Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 annualized dividend and a yield of 2.22%. 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.