iA Global Asset Management Inc. Has $1.77 Million Stake in Aflac Incorporated (NYSE:AFL)

iA Global Asset Management Inc. reduced its stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 67.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,842 shares of the financial services provider's stock after selling 33,106 shares during the quarter. iA Global Asset Management Inc.'s holdings in Aflac were worth $1,771,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on AFL shares. Barclays started coverage on shares of Aflac in a research report on Wednesday, September 4th. They set an "underweight" rating and a $96.00 target price on the stock. TD Cowen started coverage on shares of Aflac in a research report on Wednesday, October 9th. They set a "hold" rating and a $102.00 target price on the stock. Morgan Stanley upped their target price on shares of Aflac from $91.00 to $98.00 and gave the company an "equal weight" rating in a research report on Monday, August 19th. Bank of America upped their target price on shares of Aflac from $115.00 to $124.00 and gave the company a "buy" rating in a research note on Thursday, October 10th. Finally, Piper Sandler upped their target price 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. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Aflac has a consensus rating of "Hold" and a consensus price target of $98.73.

Aflac Stock Performance

Shares of NYSE AFL traded down $2.31 during mid-day trading on Monday, reaching $105.00. 2,367,619 shares of the company were exchanged, compared to its average volume of 2,212,578. The company's 50-day simple moving average is $110.91 and its 200-day simple moving average is $102.47. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $58.33 billion, a P/E ratio of 15.81, a P/E/G ratio of 2.16 and a beta of 0.97. Aflac Incorporated has a twelve month low of $75.07 and a twelve month high of $115.50.

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

Aflac Increases Dividend

The company also recently announced 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. This is a positive change from Aflac's previous quarterly dividend of $0.50. This represents a $2.32 annualized dividend and a yield of 2.21%. The ex-dividend date is Wednesday, February 19th. Aflac's dividend payout ratio (DPR) is currently 30.12%.

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.