New York State Teachers Retirement System cut its stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 427,987 shares of the financial services provider's stock after selling 7,069 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Aflac worth $47,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of AFL. Y.D. More Investments Ltd bought a new position in Aflac during the 2nd quarter worth approximately $25,000. Cedar Wealth Management LLC purchased a new position in shares of Aflac in the first quarter worth $50,000. Fairscale Capital LLC bought a new stake in Aflac during the 2nd quarter valued at $54,000. HHM Wealth Advisors LLC boosted its position in Aflac by 178.6% during the 2nd quarter. HHM Wealth Advisors LLC now owns 624 shares of the financial services provider's stock valued at $56,000 after buying an additional 400 shares during the period. Finally, Pathway Financial Advisers LLC bought a new stake in Aflac in the 1st quarter worth $66,000. Hedge funds and other institutional investors own 67.44% of the company's stock.
Aflac Stock Performance
Shares of AFL stock traded down $5.30 during trading hours on Thursday, reaching $104.79. The company had a trading volume of 4,821,130 shares, compared to its average volume of 2,234,970. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10. The business has a fifty day moving average price of $110.61 and a 200-day moving average price of $97.46. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50. The firm has a market cap of $59.54 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95.
Aflac (NYSE:AFL - Get Free Report) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.46. The business had revenue of $2.95 billion during the quarter, compared to analyst estimates of $4.30 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The company's quarterly revenue was down 40.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 EPS. Sell-side analysts predict that Aflac Incorporated will post 6.76 earnings per share for the current fiscal year.
Aflac Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.91%. Aflac's payout ratio is 22.08%.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on AFL shares. Barclays began coverage on shares of Aflac in a report on Wednesday, September 4th. They set an "underweight" rating and a $96.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Aflac from $85.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, October 3rd. Citigroup boosted their target price on Aflac from $84.00 to $93.00 and gave the company a "neutral" rating in a research note on Tuesday, July 23rd. Evercore ISI raised 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, TD Cowen assumed coverage on shares of Aflac in a research report on Wednesday, October 9th. They set a "hold" rating and a $102.00 price objective on the stock. 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $97.53.
Read Our Latest Analysis on AFL
Insider Buying and Selling at Aflac
In related news, Director Thomas J. Kenny sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now owns 18,158 shares of the company's stock, valued at approximately $1,796,552.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company's stock.
Aflac Company Profile
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Free Report)
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.
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