Retirement Systems of Alabama Reduces Stock Holdings in Aflac Incorporated (NYSE:AFL)

Retirement Systems of Alabama lowered its stake in Aflac Incorporated (NYSE:AFL - Free Report) by 7.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 434,777 shares of the financial services provider's stock after selling 33,697 shares during the period. Retirement Systems of Alabama owned 0.08% of Aflac worth $48,608,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AFL. Y.D. More Investments Ltd bought a new position in Aflac in the 2nd quarter valued at approximately $25,000. Darwin Wealth Management LLC acquired a new position in Aflac in the 3rd quarter valued at approximately $34,000. Raelipskie Partnership bought a new position in shares of Aflac during the third quarter valued at $38,000. Covestor Ltd lifted its holdings in shares of Aflac by 41.8% during the third 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 period. Finally, Kennebec Savings Bank bought a new stake in shares of Aflac in the third quarter worth $45,000. Institutional investors and hedge funds own 67.44% of the company's stock.

Aflac Stock Up 0.1 %

Aflac stock traded up $0.14 during mid-day trading on Friday, reaching $104.52. The stock had a trading volume of 2,078,327 shares, compared to its average volume of 2,206,983. The firm has a market capitalization of $58.06 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 2.09 and a beta of 0.97. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50. The stock's 50-day simple moving average is $110.14 and its 200-day simple moving average is $102.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08.

Aflac (NYSE:AFL - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm posted $1.84 EPS. Aflac's revenue was down 40.4% compared to the same quarter last year. On average, sell-side analysts forecast that Aflac Incorporated will post 7.27 EPS for the current fiscal 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 paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, February 19th. This represents a $2.32 dividend on an annualized basis and a yield of 2.22%. This is an increase from Aflac's previous quarterly dividend of $0.50. Aflac's payout ratio is 30.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AFL. JPMorgan Chase & Co. raised 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. Piper Sandler raised their price target on shares of Aflac from $114.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Aflac to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Morgan Stanley lifted their target price 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. Finally, Bank of America upped their price target on shares of Aflac from $115.00 to $124.00 and gave the company a "buy" rating in a research report on Thursday, October 10th. Three 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $98.73.

About Aflac

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.