Norden Group LLC Takes Position in Aflac Incorporated (NYSE:AFL)

Norden Group LLC purchased a new stake in shares of Aflac Incorporated (NYSE:AFLFree Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,845 shares of the financial services provider’s stock, valued at approximately $3,249,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AFL. Fortitude Family Office LLC purchased a new position in shares of Aflac in the 4th quarter worth about $25,000. Atwood & Palmer Inc. boosted its holdings in Aflac by 80.0% during the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 140 shares during the period. Bruce G. Allen Investments LLC purchased a new stake in Aflac during the 4th quarter valued at about $32,000. Criterion Capital Advisors LLC purchased a new stake in Aflac during the 4th quarter valued at about $33,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Aflac during the 1st quarter valued at about $34,000. 67.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AFL shares. Truist Financial increased their target price on Aflac from $80.00 to $82.00 and gave the company a “hold” rating in a report on Friday, May 3rd. StockNews.com upgraded Aflac from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on Aflac from $80.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley increased their price objective on Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Finally, Jefferies Financial Group dropped their price objective on Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a report on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.69.

Get Our Latest Report on Aflac

Insider Activity at Aflac

In other Aflac news, Director Charles D. Lake II sold 22,378 shares of Aflac stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total value of $1,957,403.66. Following the completion of the sale, the director now owns 61,522 shares of the company’s stock, valued at approximately $5,381,329.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Joseph L. Moskowitz sold 600 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total value of $50,904.00. Following the transaction, the director now directly owns 27,550 shares in the company, valued at approximately $2,337,342. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles D. Lake II sold 22,378 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total value of $1,957,403.66. Following the completion of the transaction, the director now owns 61,522 shares in the company, valued at $5,381,329.34. The disclosure for this sale can be found here. 0.80% of the stock is owned by corporate insiders.

Aflac Stock Down 0.4 %

AFL stock opened at $89.09 on Friday. Aflac Incorporated has a twelve month low of $69.00 and a twelve month high of $91.15. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34. The firm has a market cap of $50.62 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 2.21 and a beta of 0.95. The business has a 50 day moving average of $87.35 and a 200 day moving average of $83.97.

Aflac (NYSE:AFLGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the company earned $1.55 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, research analysts forecast that Aflac Incorporated will post 6.46 EPS for the current fiscal year.

Aflac Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend was Tuesday, May 21st. This is a positive change from Aflac’s previous quarterly dividend of $0.42. Aflac’s dividend payout ratio (DPR) is 22.08%.

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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Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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