Carmel Capital Partners LLC Buys 165 Shares of Aflac Incorporated (NYSE:AFL)

Carmel Capital Partners LLC grew its stake in shares of Aflac Incorporated (NYSE:AFL) by 4.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,929 shares of the financial services provider’s stock after acquiring an additional 165 shares during the quarter. Carmel Capital Partners LLC’s holdings in Aflac were worth $439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Assetmark Inc. increased its holdings in shares of Aflac by 0.7% during the third quarter. Assetmark Inc. now owns 1,584,552 shares of the financial services provider’s stock valued at $177,153,000 after acquiring an additional 10,487 shares in the last quarter. Verdence Capital Advisors LLC increased its holdings in Aflac by 3.9% in the 3rd quarter. Verdence Capital Advisors LLC now owns 14,332 shares of the financial services provider’s stock worth $1,602,000 after buying an additional 537 shares in the last quarter. Rockbridge Investment Management LCC bought a new stake in Aflac in the 3rd quarter worth about $222,000. Executive Wealth Management LLC bought a new stake in Aflac in the 3rd quarter worth about $394,000. Finally, CWA Asset Management Group LLC bought a new stake in Aflac in the 3rd quarter worth about $810,000. 67.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AFL has been the topic of several research reports. UBS Group raised their target price on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. TD Cowen initiated coverage on Aflac in a research report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Barclays initiated coverage on Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target on the stock. Finally, Truist Financial boosted their price target on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $97.93.

Aflac Stock Performance

NYSE AFL opened at $108.29 on Friday. The business’s 50 day moving average price is $110.33 and its 200-day moving average price is $98.56. The company has a market cap of $60.16 billion, a P/E ratio of 16.31, a P/E/G ratio of 2.06 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. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50.

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 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%. Aflac’s quarterly revenue was down 40.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.84 EPS. Sell-side analysts predict that Aflac Incorporated will post 7.05 earnings per share for the current year.

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend is Wednesday, November 20th. Aflac’s dividend payout ratio (DPR) is presently 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.