Aflac Incorporated (NYSE:AFL) Stock Position Trimmed by NorthRock Partners LLC

by · The Markets Daily

NorthRock Partners LLC cut its position in Aflac Incorporated (NYSE:AFL – Free Report) by 23.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,383 shares of the financial services provider’s stock after selling 719 shares during the quarter. NorthRock Partners LLC’s holdings in Aflac were worth $266,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Hanlon Investment Management Inc. lifted its position in Aflac by 2.5% in the 3rd quarter. Hanlon Investment Management Inc. now owns 7,255 shares of the financial services provider’s stock valued at $811,000 after purchasing an additional 178 shares during the last quarter. Clarity Financial LLC lifted its position in Aflac by 12.1% in the 3rd quarter. Clarity Financial LLC now owns 3,294 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 356 shares during the last quarter. United Advisor Group LLC bought a new stake in Aflac in the 3rd quarter valued at about $214,000. Catalyst Capital Advisors LLC bought a new stake in Aflac in the 3rd quarter valued at about $51,000. Finally, QRG Capital Management Inc. increased its stake in Aflac by 3.0% during the 3rd quarter. QRG Capital Management Inc. now owns 667,842 shares of the financial services provider’s stock valued at $74,665,000 after buying an additional 19,137 shares during the period. 67.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. TD Cowen assumed coverage on shares of Aflac in a research note on Wednesday, October 9th. They set a “hold” rating and a $102.00 target price on the stock. Truist Financial lifted their price objective on shares of Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Morgan Stanley lifted their price objective on shares of Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. 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 note on Thursday, October 3rd. Finally, Barclays initiated coverage on shares of Aflac in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price objective on the stock. Three equities 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’s stock. Based on data from MarketBeat.com, Aflac has an average rating of “Hold” and an average target price of $97.93.

Get Our Latest Analysis on Aflac

Aflac Stock Up 2.8 %

Aflac stock opened at $108.56 on Thursday. The firm has a market cap of $60.80 billion, a PE ratio of 16.35, a P/E/G ratio of 2.07 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. The firm’s 50 day moving average price is $110.42 and its two-hundred day moving average price is $98.32. Aflac Incorporated has a twelve month low of $75.07 and a twelve month high of $115.50.

Aflac (NYSE:AFL – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.47. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The company’s revenue for the quarter was down 40.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.84 EPS. On average, research analysts predict that Aflac Incorporated will post 7.05 EPS for the current fiscal year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.00 annualized dividend and a yield of 1.84%. Aflac’s dividend payout ratio is presently 30.12%.

Aflac Profile

(Free Report)

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.

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