Heritage Wealth Management Inc. Has $676,000 Stake in Aflac Incorporated (NYSE:AFL)

Heritage Wealth Management Inc. reduced its stake in shares of Aflac Incorporated (NYSE:AFL) by 2.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 6,048 shares of the financial services provider’s stock after selling 150 shares during the period. Heritage Wealth Management Inc.’s holdings in Aflac were worth $676,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Y.D. More Investments Ltd purchased a new stake in Aflac in the 2nd quarter valued at $25,000. Cedar Wealth Management LLC bought a new position in shares of Aflac during the first quarter valued at about $50,000. Catalyst Capital Advisors LLC purchased a new position in Aflac during the third quarter worth about $51,000. Fairscale Capital LLC bought a new stake in Aflac in the 2nd quarter worth about $54,000. Finally, Valued Wealth Advisors LLC increased its stake in Aflac by 116.7% in the 3rd quarter. Valued Wealth Advisors LLC now owns 479 shares of the financial services provider’s stock valued at $54,000 after buying an additional 258 shares during the last quarter. 67.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on AFL. Wells Fargo & Company upped their target price on Aflac from $106.00 to $107.00 and gave the company an “equal weight” rating in a report on Tuesday. Truist Financial upped their price objective on Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Bank of America raised their target price on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. TD Cowen started coverage on shares of Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $97.93.

Aflac Stock Performance

Aflac stock traded up $0.73 during mid-day trading on Friday, reaching $108.17. The company’s stock had a trading volume of 42,493 shares, compared to its average volume of 2,230,783. The company has a market capitalization of $60.09 billion, a P/E ratio of 16.18, a PEG ratio of 2.06 and a beta of 0.96. The firm’s fifty day moving average price is $110.42 and its two-hundred day moving average price is $98.32. Aflac Incorporated has a 12-month low of $75.07 and a 12-month high of $115.50. 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 released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company posted $1.84 EPS. The firm’s revenue for the quarter was down 40.4% compared to the same quarter last year. Sell-side analysts predict that Aflac Incorporated will post 7.05 EPS for the current fiscal year.

Aflac Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend yield of 1.85%. The ex-dividend date 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.