Spinnaker Trust Increases Holdings in Aflac Incorporated (NYSE:AFL)

Spinnaker Trust boosted its position in Aflac Incorporated (NYSE:AFL) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,620 shares of the financial services provider’s stock after purchasing an additional 95 shares during the period. Spinnaker Trust’s holdings in Aflac were worth $405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Strategic Financial Concepts LLC grew its holdings in shares of Aflac by 7,001.0% during the second quarter. Strategic Financial Concepts LLC now owns 667,706 shares of the financial services provider’s stock worth $596,000 after buying an additional 658,303 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Aflac by 10,878.5% in the third quarter. International Assets Investment Management LLC now owns 559,903 shares of the financial services provider’s stock valued at $62,597,000 after purchasing an additional 554,803 shares during the period. Truist Financial Corp grew its holdings in Aflac by 26.6% in the second quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock valued at $172,338,000 after purchasing an additional 405,847 shares during the period. Swedbank AB purchased a new position in Aflac during the first quarter worth approximately $27,588,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Aflac by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,807,079 shares of the financial services provider’s stock valued at $429,319,000 after purchasing an additional 285,576 shares during the last quarter. 67.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on AFL shares. Morgan Stanley increased their target price on Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Wells Fargo & Company raised their price objective on Aflac from $106.00 to $107.00 and gave the stock an “equal weight” rating in a report on Tuesday. Truist Financial boosted their target price on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, November 1st. TD Cowen began coverage on shares of Aflac in a research note on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective for the company. Finally, Piper Sandler upped their price target on shares of Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $97.93.

Aflac Price Performance

Shares of AFL opened at $108.56 on Thursday. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50. The firm has a market capitalization of $60.80 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96. The stock’s fifty day moving average is $110.42 and its 200-day moving average is $98.32. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.10 and a current ratio of 0.08.

Aflac (NYSE:AFL) last posted its quarterly earnings data 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. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. Equities analysts anticipate that Aflac Incorporated will post 7.05 EPS for the current year.

Aflac Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, November 20th. Aflac’s payout ratio is 30.12%.

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.