CIBC Asset Management Inc Buys 559 Shares of Aflac Incorporated (NYSE:AFL)

CIBC Asset Management Inc grew its stake in shares of Aflac Incorporated (NYSE:AFL) by 0.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,662 shares of the financial services provider’s stock after buying an additional 559 shares during the period. CIBC Asset Management Inc’s holdings in Aflac were worth $9,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new position in shares of Aflac in the third quarter worth approximately $34,000. Raelipskie Partnership bought a new position in shares of Aflac in the third quarter worth approximately $38,000. Covestor Ltd increased its position in shares of Aflac by 41.8% in the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 107 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Aflac in the third quarter worth approximately $45,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Aflac in the third quarter worth approximately $51,000. 67.44% of the stock is currently owned by 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 stock was sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the completion of the transaction, the executive vice president now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Aflac Stock Performance

NYSE:AFL opened at $104.24 on Wednesday. The firm has a market cap of $57.91 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 2.10 and a beta of 0.99. Aflac Incorporated has a fifty-two week low of $78.38 and a fifty-two week high of $115.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.08 and a current ratio of 0.10. The business has a 50 day moving average price of $104.15 and a 200-day moving average price of $107.26.

Aflac (NYSE:AFL) last announced its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Aflac had a return on equity of 16.20% and a net margin of 28.76%. Equities research analysts predict that Aflac Incorporated will post 6.95 earnings per share for the current year.

Aflac Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $2.32 annualized dividend and a yield of 2.23%. This is a positive change from Aflac’s previous quarterly dividend of $0.50. Aflac’s dividend payout ratio (DPR) is currently 20.83%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Aflac from $107.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. Piper Sandler decreased their price objective on shares of Aflac from $122.00 to $118.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Barclays reduced their price target on shares of Aflac from $98.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. StockNews.com upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Evercore ISI reduced their price target on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $103.00.

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.