Exeter Financial LLC Sells 649 Shares of Aflac Incorporated (NYSE:AFL)

Exeter Financial LLC decreased its holdings in shares of Aflac Incorporated (NYSE:AFL) by 1.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 57,416 shares of the financial services provider’s stock after selling 649 shares during the period. Aflac accounts for about 2.7% of Exeter Financial LLC’s portfolio, making the stock its 7th biggest position. Exeter Financial LLC’s holdings in Aflac were worth $5,939,000 at the end of the most recent quarter.

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

Aflac Stock Performance

NYSE AFL opened at $102.52 on Tuesday. Aflac Incorporated has a 1 year low of $75.07 and a 1 year high of $115.50. The firm’s 50 day simple moving average is $106.59 and its 200 day simple moving average is $105.02. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $56.95 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 2.09 and a beta of 1.00.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The firm’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same period last year, the company posted $1.84 EPS. As a group, research analysts expect that Aflac Incorporated will post 7.27 earnings per share for the current fiscal year.

Aflac Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.26%. This is a boost from Aflac’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, February 19th. Aflac’s dividend payout ratio is presently 34.94%.

Insider Activity

In related news, EVP Audrey B. Tillman sold 24,744 shares of the firm’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 value of $2,558,529.60. Following the completion of the transaction, the executive vice president now owns 222,618 shares in the company, valued at $23,018,701.20. This trade represents a 10.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AFL. StockNews.com raised shares of Aflac from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods reduced their target price on Aflac from $108.00 to $107.00 and set a “market perform” rating on the stock in a report on Friday. JPMorgan Chase & Co. increased their price target on Aflac from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, January 7th. Evercore ISI cut their price objective on Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a report on Wednesday, December 4th. Finally, TD Cowen assumed coverage on Aflac in a research report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price objective for the company. Two 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 stock. Based on data from MarketBeat.com, Aflac has a consensus rating of “Hold” and an average price target of $102.29.

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.