Aflac Incorporated (NYSE:AFL) Shares Sold by Destination Wealth Management

Destination Wealth Management reduced its position in Aflac Incorporated (NYSE:AFL - Free Report) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 245,953 shares of the financial services provider's stock after selling 6,571 shares during the period. Destination Wealth Management's holdings in Aflac were worth $27,498,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Spinnaker Trust raised its holdings in shares of Aflac by 2.7% in the third quarter. Spinnaker Trust now owns 3,620 shares of the financial services provider's stock valued at $405,000 after buying an additional 95 shares during the last quarter. Secure Asset Management LLC lifted its position in Aflac by 1.0% during the 3rd quarter. Secure Asset Management LLC now owns 9,783 shares of the financial services provider's stock worth $1,094,000 after acquiring an additional 96 shares during the period. Ascent Group LLC grew its stake in shares of Aflac by 0.6% in the 2nd quarter. Ascent Group LLC now owns 17,231 shares of the financial services provider's stock valued at $1,539,000 after purchasing an additional 99 shares during the last quarter. Ieq Capital LLC raised its stake in shares of Aflac by 0.5% during the second quarter. Ieq Capital LLC now owns 21,775 shares of the financial services provider's stock worth $1,945,000 after purchasing an additional 101 shares during the last quarter. Finally, New Century Financial Group LLC raised its stake in shares of Aflac by 2.5% during the third quarter. New Century Financial Group LLC now owns 4,198 shares of the financial services provider's stock worth $469,000 after purchasing an additional 101 shares during the last quarter. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Price Performance

Shares of AFL stock traded up $0.20 during trading hours on Thursday, hitting $104.41. The company's stock had a trading volume of 1,789,390 shares, compared to its average volume of 2,207,506. 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 business has a fifty day moving average of $110.54 and a 200-day moving average of $102.60. Aflac Incorporated has a twelve month low of $75.07 and a twelve month high of $115.50. The stock has a market cap of $58.00 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 2.16 and a beta of 0.97.

Aflac (NYSE:AFL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. Aflac's quarterly revenue was down 40.4% on a year-over-year basis. As a group, equities research analysts anticipate that Aflac Incorporated will post 7.27 EPS for the current year.

Aflac Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be paid a $0.58 dividend. This is an increase from Aflac's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $2.32 annualized dividend and a yield of 2.22%. Aflac's payout ratio is presently 30.12%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Aflac from $114.00 to $122.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Truist Financial increased their price target on shares of Aflac from $100.00 to $105.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Barclays began coverage on Aflac in a research note on Wednesday, September 4th. They set an "underweight" rating and a $96.00 target price for the company. Bank of America lifted their price target on Aflac from $115.00 to $124.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, TD Cowen initiated 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. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $98.73.

Aflac 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.