Hartford Investment Management Co. Decreases Stake in Aflac Incorporated (NYSE:AFL)

Hartford Investment Management Co. cut its holdings in shares of Aflac Incorporated (NYSE:AFL) by 5.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,448 shares of the financial services provider’s stock after selling 2,005 shares during the period. Hartford Investment Management Co.’s holdings in Aflac were worth $3,851,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Aflac during the 3rd quarter valued at about $327,000. Private Advisor Group LLC boosted its holdings in Aflac by 21.5% in the third quarter. Private Advisor Group LLC now owns 21,913 shares of the financial services provider’s stock worth $2,450,000 after purchasing an additional 3,876 shares during the last quarter. BLB&B Advisors LLC purchased a new stake in Aflac in the third quarter worth approximately $237,000. Eastern Bank bought a new stake in shares of Aflac in the third quarter worth $1,146,000. Finally, Vicus Capital bought a new stake in shares of Aflac during the 3rd quarter valued at about $221,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Down 0.0 %

NYSE AFL opened at $112.14 on Thursday. The stock has a 50 day moving average price of $110.03 and a 200-day moving average price of $96.48. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50. The company has a market capitalization of $63.72 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.23. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The business’s revenue was down .7% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. As a group, equities analysts predict that Aflac Incorporated will post 6.76 EPS for the current fiscal year.

Aflac Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were given a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.78%. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Insider Activity

In other news, Director Thomas J. Kenny sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now owns 18,158 shares of the company’s stock, 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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Truist Financial upped their price objective on Aflac from $82.00 to $100.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Morgan Stanley raised their price objective on Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Wells Fargo & Company boosted their price objective on Aflac from $90.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on shares of Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Finally, TD Cowen assumed coverage on shares of Aflac in a research report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Aflac currently has a consensus rating of “Hold” and a consensus price target of $97.53.

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.