Aflac Incorporated (AFL) to Issue Quarterly Dividend of $0.50 on June 3rd

Aflac Incorporated (NYSE:AFLGet Free Report) declared a quarterly dividend on Wednesday, May 1st, RTT News reports. Shareholders of record on Wednesday, May 22nd will be paid a dividend of 0.50 per share by the financial services provider on Monday, June 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Tuesday, May 21st. This is a positive change from Aflac’s previous quarterly dividend of $0.42.

Aflac has increased its dividend payment by an average of 14.5% per year over the last three years and has increased its dividend every year for the last 43 years. Aflac has a payout ratio of 29.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Aflac to earn $6.90 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 29.0%.

Aflac Trading Up 1.4 %

Shares of Aflac stock opened at $88.37 on Friday. Aflac has a 12-month low of $64.10 and a 12-month high of $88.41. The stock has a market capitalization of $50.21 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 2.37 and a beta of 0.91. The company has a 50-day simple moving average of $84.18 and a 200 day simple moving average of $82.46. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34.

Aflac (NYSE:AFLGet Free Report) last issued its quarterly earnings data on Monday, May 6th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. The firm had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $4.09 billion. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.55 earnings per share. Research analysts expect that Aflac will post 6.46 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the completion of the sale, the director now directly owns 27,550 shares of the company’s stock, valued at $2,337,342. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Aflac news, SVP Albert Riggieri sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $83.34, for a total value of $666,720.00. Following the completion of the sale, the senior vice president now owns 32,825 shares of the company’s stock, valued at $2,735,635.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the transaction, the director now directly owns 27,550 shares in the company, valued at $2,337,342. The disclosure for this sale can be found here. Insiders have sold a total of 16,600 shares of company stock valued at $1,379,914 in the last 90 days. 0.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on AFL shares. Truist Financial lifted their price objective on Aflac from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Morgan Stanley raised their price objective on shares of Aflac from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Piper Sandler upped their target price on shares of Aflac from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Raymond James raised their price target on shares of Aflac from $83.00 to $88.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Aflac currently has a consensus rating of “Hold” and a consensus price target of $82.38.

Get Our Latest Analysis on AFL

Aflac Company Profile

(Get 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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Dividend History for Aflac (NYSE:AFL)

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