Aflac Incorporated (NYSE:AFL) Shares Purchased by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp boosted its holdings in Aflac Incorporated (NYSE:AFL) by 6.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,225 shares of the financial services provider’s stock after purchasing an additional 2,196 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Aflac were worth $4,162,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC lifted its stake in Aflac by 7,001.0% in the second quarter. Strategic Financial Concepts LLC now owns 667,706 shares of the financial services provider’s stock valued at $596,000 after buying an additional 658,303 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Aflac by 10,878.5% in the third quarter. International Assets Investment Management LLC now owns 559,903 shares of the financial services provider’s stock valued at $62,597,000 after buying an additional 554,803 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Aflac by 471.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the financial services provider’s stock valued at $67,080,000 after buying an additional 495,000 shares during the last quarter. Truist Financial Corp lifted its stake in Aflac by 26.6% in the second quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock valued at $172,338,000 after buying an additional 405,847 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Aflac in the first quarter valued at approximately $27,588,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Trading Up 0.1 %

NYSE:AFL opened at $114.10 on Friday. The stock has a fifty day moving average price of $111.11 and a two-hundred day moving average price of $101.23. The stock has a market capitalization of $63.39 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 2.18 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. Aflac Incorporated has a 1 year low of $75.07 and a 1 year high of $115.50.

Aflac (NYSE:AFL) last released its quarterly earnings data 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. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. Aflac’s revenue was down 40.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 earnings per share. As a group, sell-side analysts anticipate that Aflac Incorporated will post 7.27 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The business 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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.75%. The ex-dividend date is Wednesday, November 20th. Aflac’s payout ratio is currently 30.12%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AFL shares. JPMorgan Chase & Co. boosted their price objective on Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Bank of America boosted their price objective on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Truist Financial upped their price target on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Evercore ISI upped their price target on Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, September 26th. Finally, UBS Group upped their price target on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Aflac currently has an average rating of “Hold” and an average target price of $97.93.

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.