Aflac Incorporated (NYSE:AFL) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC reduced its stake in shares of Aflac Incorporated (NYSE:AFL) by 2.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,892 shares of the financial services provider’s stock after selling 1,144 shares during the period. Cornerstone Wealth Management LLC’s holdings in Aflac were worth $6,249,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd acquired a new stake in shares of Aflac during the 2nd quarter worth approximately $25,000. Atwood & Palmer Inc. increased its stake in shares of Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 140 shares during the last quarter. OFI Invest Asset Management acquired a new position in shares of Aflac during the 1st quarter worth $29,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Aflac in the first quarter valued at approximately $34,000. Finally, Cedar Wealth Management LLC bought a new stake in Aflac in the 1st quarter valued at $50,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on AFL shares. Evercore ISI boosted their price target on Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, September 26th. Truist Financial boosted their target price on Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Piper Sandler boosted their target price on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Citigroup upped their target price on shares of Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Finally, Morgan Stanley raised their target price 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. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $97.53.

Aflac Trading Up 0.3 %

Shares of AFL stock opened at $114.38 on Thursday. The stock’s 50-day moving average price is $108.85 and its 200-day moving average price is $95.49. Aflac Incorporated has a 12-month low of $75.07 and a 12-month high of $115.50. The stock has a market capitalization of $64.99 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 2.62 and a beta of 0.95. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company’s revenue was down .7% on a year-over-year basis. Equities research analysts predict that Aflac Incorporated will post 6.76 EPS for the current fiscal year.

Aflac Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend was Wednesday, August 21st. Aflac’s dividend payout ratio is currently 22.08%.

Insider Buying and Selling

In related news, Director Thomas J. Kenny sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now directly owns 18,158 shares of the company’s stock, valued at $1,796,552.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

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.