Citizens National Bank Trust Department Trims Stake in Aflac Incorporated (NYSE:AFL)

Citizens National Bank Trust Department cut its position in shares of Aflac Incorporated (NYSE:AFL) by 0.3% in the third quarter, Holdings Channel.com reports. The firm owned 78,878 shares of the financial services provider’s stock after selling 205 shares during the quarter. Aflac comprises approximately 1.9% of Citizens National Bank Trust Department’s investment portfolio, making the stock its 12th biggest position. Citizens National Bank Trust Department’s holdings in Aflac were worth $8,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in Aflac by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 97,494 shares of the financial services provider’s stock valued at $10,933,000 after acquiring an additional 9,667 shares during the period. Lodestone Wealth Management LLC bought a new stake in shares of Aflac during the third quarter worth $232,000. Confluence Wealth Services Inc. boosted its stake in shares of Aflac by 1.7% during the third quarter. Confluence Wealth Services Inc. now owns 11,422 shares of the financial services provider’s stock valued at $1,277,000 after purchasing an additional 195 shares during the period. Pure Financial Advisors LLC purchased a new stake in shares of Aflac during the third quarter valued at $630,000. Finally, Lmcg Investments LLC bought a new position in shares of Aflac in the third quarter worth about $223,000. 67.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AFL. Piper Sandler lifted their price objective on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Evercore ISI upped their target price on Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, September 26th. Bank of America raised 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. Wells Fargo & Company increased their target price on shares of Aflac from $90.00 to $106.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, TD Cowen began coverage on shares of Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.87.

Insiders Place Their Bets

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the sale, the director now owns 18,158 shares in the company, valued at approximately $1,796,552.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by insiders.

Aflac Price Performance

Shares of NYSE AFL opened at $104.71 on Monday. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50. The company has a market cap of $58.64 billion, a PE ratio of 15.77, a P/E/G ratio of 2.12 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.10 and a current ratio of 0.08. The business has a 50-day simple moving average of $110.52 and a two-hundred day simple moving average of $97.93.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $1.69 by $0.47. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. Aflac’s revenue was down 40.4% on a year-over-year basis. During the same period last year, the firm posted $1.84 EPS. As a group, equities analysts expect that Aflac Incorporated will post 6.87 EPS for the current fiscal year.

Aflac Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be paid a $0.50 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. Aflac’s dividend payout ratio (DPR) is 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.