Cyndeo Wealth Partners LLC Grows Stock Position in Aflac Incorporated $AFL

Cyndeo Wealth Partners LLC raised its stake in shares of Aflac Incorporated (NYSE:AFL) by 11.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,616 shares of the financial services provider’s stock after acquiring an additional 491 shares during the period. Cyndeo Wealth Partners LLC’s holdings in Aflac were worth $487,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. NorthRock Partners LLC increased its stake in shares of Aflac by 1.5% in the 1st quarter. NorthRock Partners LLC now owns 6,519 shares of the financial services provider’s stock valued at $725,000 after purchasing an additional 95 shares in the last quarter. Valued Wealth Advisors LLC increased its stake in shares of Aflac by 24.4% in the 1st quarter. Valued Wealth Advisors LLC now owns 495 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 97 shares in the last quarter. Duncan Williams Asset Management LLC increased its stake in shares of Aflac by 5.0% in the 2nd quarter. Duncan Williams Asset Management LLC now owns 2,065 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 98 shares in the last quarter. Phillips Wealth Planners LLC increased its stake in shares of Aflac by 1.5% in the 1st quarter. Phillips Wealth Planners LLC now owns 6,653 shares of the financial services provider’s stock valued at $711,000 after purchasing an additional 100 shares in the last quarter. Finally, Stiles Financial Services Inc increased its stake in shares of Aflac by 3.4% in the 2nd quarter. Stiles Financial Services Inc now owns 3,070 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Wall Street Analysts Forecast Growth

AFL has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Aflac from $96.00 to $100.00 and gave the company a “neutral” rating in a research note on Tuesday, July 8th. Wells Fargo & Company lifted their price target on Aflac from $105.00 to $107.00 and gave the company an “equal weight” rating in a research note on Monday, August 11th. Piper Sandler set a $125.00 price objective on Aflac and gave the stock an “overweight” rating in a report on Tuesday. Evercore ISI set a $110.00 price objective on Aflac and gave the stock an “underperform” rating in a report on Thursday. Finally, Barclays reiterated an “underweight” rating and issued a $102.00 price objective (up from $100.00) on shares of Aflac in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $109.45.

Insider Buying and Selling at Aflac

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the transaction, the director directly owned 25,105 shares in the company, valued at $2,575,019.85. The trade was a 3.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

Aflac Trading Down 0.4%

AFL stock opened at $110.78 on Friday. The stock has a market cap of $59.25 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 3.08 and a beta of 0.86. The business’s 50-day moving average is $107.55 and its 200 day moving average is $105.48. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $115.44. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33.

Aflac (NYSE:AFL) last issued its earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share for the quarter. The business had revenue of $5.91 billion for the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. On average, sell-side analysts anticipate that Aflac Incorporated will post 6.88 EPS for the current fiscal year.

Aflac Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, August 20th. Aflac’s payout ratio is currently 52.61%.

Aflac declared that its Board of Directors has authorized a stock buyback program on Tuesday, August 12th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.