Texas Capital Bank Wealth Management Services Inc Invests $697,000 in Aflac Incorporated (NYSE:AFL)

Texas Capital Bank Wealth Management Services Inc purchased a new position in Aflac Incorporated (NYSE:AFL - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,232 shares of the financial services provider's stock, valued at approximately $697,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Y.D. More Investments Ltd purchased a new stake in Aflac during the 2nd quarter valued at approximately $25,000. Darwin Wealth Management LLC purchased a new position in Aflac during the third quarter valued at $34,000. Covestor Ltd increased its holdings in Aflac by 41.8% in the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 107 shares during the last quarter. Kennebec Savings Bank bought a new stake in Aflac in the 3rd quarter valued at $45,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Aflac in the 3rd quarter worth $51,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Up 0.0 %

Aflac stock traded up $0.04 during trading hours on Friday, reaching $107.79. The stock had a trading volume of 584,993 shares, compared to its average volume of 2,206,127. Aflac Incorporated has a 52 week low of $75.07 and a 52 week high of $115.50. The company has a market cap of $59.88 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.04 and a beta of 0.97. 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 business's 50 day moving average price is $111.11 and its 200-day moving average price is $102.01.

Aflac (NYSE:AFL - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS 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 firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business posted $1.84 EPS. The business's revenue for the quarter was down 40.4% compared to the same quarter last year. Sell-side analysts anticipate that Aflac Incorporated will post 7.27 EPS for the current year.

Aflac Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Wednesday, February 19th will be issued a $0.58 dividend. The ex-dividend date is Wednesday, February 19th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Aflac's previous quarterly dividend of $0.50. Aflac's dividend payout ratio (DPR) is currently 30.12%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AFL. Wells Fargo & Company increased their target price on Aflac to $107.00 and gave the company a "hold" rating in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of Aflac from $91.00 to $98.00 and gave the stock an "equal weight" rating in a research note on Monday, August 19th. Piper Sandler increased their price target on shares of Aflac from $114.00 to $122.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Barclays initiated coverage on Aflac in a research note on Wednesday, September 4th. They set an "underweight" rating and a $96.00 price objective on the stock. Finally, Truist Financial upped their price objective on Aflac from $100.00 to $105.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $98.73.

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.