Lake Street Advisors Group LLC Has $2.57 Million Position in Aflac Incorporated (NYSE:AFL)

Lake Street Advisors Group LLC lessened its holdings in Aflac Incorporated (NYSE:AFL) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,737 shares of the financial services provider’s stock after selling 283 shares during the period. Lake Street Advisors Group LLC’s holdings in Aflac were worth $2,567,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AFL. Norges Bank purchased a new position in Aflac during the 4th quarter valued at about $197,820,000. Nordea Investment Management AB increased its stake in Aflac by 6.7% in the 1st quarter. Nordea Investment Management AB now owns 1,806,475 shares of the financial services provider’s stock valued at $155,140,000 after buying an additional 113,226 shares during the period. Assetmark Inc. lifted its position in Aflac by 4.2% in the 4th quarter. Assetmark Inc. now owns 1,577,319 shares of the financial services provider’s stock worth $130,129,000 after buying an additional 64,202 shares in the last quarter. Captrust Financial Advisors lifted its position in Aflac by 0.7% in the 1st quarter. Captrust Financial Advisors now owns 980,236 shares of the financial services provider’s stock worth $84,163,000 after buying an additional 7,163 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Aflac by 1.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 882,906 shares of the financial services provider’s stock valued at $75,808,000 after buying an additional 12,357 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Insider Buying and Selling at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now owns 18,158 shares of the company’s stock, valued at $1,796,552.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AFL has been the topic of a number of research reports. Jefferies Financial Group dropped their price target on shares of Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Piper Sandler raised their price target on Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Wells Fargo & Company lifted their price target on Aflac from $81.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Truist Financial increased their price objective on Aflac from $82.00 to $100.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Bank of America lifted their target price on shares of Aflac from $108.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Aflac has a consensus rating of “Hold” and a consensus target price of $92.50.

Aflac Trading Down 0.8 %

Shares of AFL stock opened at $108.86 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 1 year low of $73.79 and a 1 year high of $111.14. The firm’s fifty day simple moving average is $99.12 and its 200 day simple moving average is $89.89. The firm has a market capitalization of $61.86 billion, a P/E ratio of 12.02, a price-to-earnings-growth ratio of 2.61 and a beta of 0.95.

Aflac (NYSE:AFL) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. The business had revenue of $5.14 billion during the quarter, compared to analyst estimates of $4.10 billion. Aflac had a return on equity of 16.22% and a net margin of 28.35%. Aflac’s revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share. As a group, sell-side analysts predict that Aflac Incorporated will post 6.73 EPS for the current year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Stockholders of record on Wednesday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.84%. Aflac’s dividend payout ratio (DPR) is currently 22.08%.

Aflac 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.