Marco Investment Management LLC Raises Position in Aflac Incorporated (NYSE:AFL)

Marco Investment Management LLC boosted its stake in Aflac Incorporated (NYSE:AFL) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,028 shares of the financial services provider’s stock after buying an additional 1,585 shares during the period. Marco Investment Management LLC’s holdings in Aflac were worth $10,736,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Y.D. More Investments Ltd purchased a new position in shares of Aflac during the second quarter valued at approximately $25,000. Darwin Wealth Management LLC purchased a new position in shares of Aflac during the third quarter valued at approximately $34,000. Covestor Ltd lifted its holdings in shares of Aflac by 41.8% during the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 107 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Aflac during the third quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Aflac during the third quarter valued at approximately $51,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Aflac Trading Up 0.6 %

NYSE:AFL opened at $112.39 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. Aflac Incorporated has a 12 month low of $75.07 and a 12 month high of $115.50. The company has a market cap of $62.44 billion, a PE ratio of 16.93, a price-to-earnings-growth ratio of 2.15 and a beta of 0.96. The company has a 50 day simple moving average of $110.73 and a two-hundred day simple moving average of $100.55.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.47. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the firm posted $1.84 EPS. The firm’s revenue was down 40.4% on a year-over-year basis. Research analysts forecast that Aflac Incorporated will post 7.22 earnings per share for the current year.

Aflac Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Wednesday, November 20th. Aflac’s payout ratio is 30.12%.

Wall Street Analyst Weigh In

AFL has been the subject of several recent research reports. Truist Financial lifted their target price on shares of Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a report on Friday, November 1st. Evercore ISI lifted their target price on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their price target on shares of Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Barclays started coverage on shares of Aflac in a research report on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price target for the company. Finally, Bank of America raised their price target on shares of Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Aflac presently has an average rating of “Hold” and a consensus price target of $97.93.

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.