Aflac Incorporated (NYSE:AFL) Shares Sold by Cerro Pacific Wealth Advisors LLC

Cerro Pacific Wealth Advisors LLC cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,556 shares of the financial services provider’s stock after selling 253 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Aflac were worth $1,180,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC acquired a new stake in Aflac in the 3rd quarter valued at approximately $34,000. Raelipskie Partnership purchased a new position in shares of Aflac during the third quarter worth $38,000. Covestor Ltd grew its stake in shares of Aflac by 41.8% in the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after buying an additional 107 shares in the last quarter. Kennebec Savings Bank purchased a new stake in shares of Aflac in the 3rd quarter valued at $45,000. Finally, Catalyst Capital Advisors LLC acquired a new position in Aflac during the 3rd quarter worth about $51,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Aflac

In other Aflac news, EVP Audrey B. Tillman sold 24,744 shares of the firm’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the transaction, the executive vice president now directly owns 222,618 shares of the company’s stock, valued at approximately $23,018,701.20. This trade represents a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on AFL. Wells Fargo & Company lifted their target price on Aflac from $103.00 to $104.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. lifted their price objective on shares of Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Tuesday, January 7th. Piper Sandler increased their target price on shares of Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Bank of America boosted their price target on shares of Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, BMO Capital Markets started coverage on Aflac in a research report on Thursday. They set a “market perform” rating and a $111.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $102.67.

Aflac Trading Up 0.1 %

Shares of Aflac stock opened at $104.43 on Friday. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $106.12 and a 200-day simple moving average of $105.71. The stock has a market cap of $58.02 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 2.13 and a beta of 1.00. Aflac Incorporated has a 12-month low of $75.07 and a 12-month high of $115.50.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter last year, the company posted $1.84 earnings per share. The business’s quarterly revenue was down 40.4% compared to the same quarter last year. On average, equities analysts forecast that Aflac Incorporated will post 7.26 EPS for the current fiscal year.

Aflac Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Wednesday, February 19th will be given a dividend of $0.58 per share. This is a positive change from Aflac’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, February 19th. This represents a $2.32 annualized dividend and a yield of 2.22%. 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.