Meritage Portfolio Management Cuts Position in Aflac Incorporated (NYSE:AFL)

Meritage Portfolio Management lowered its stake in shares of Aflac Incorporated (NYSE:AFL) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,821 shares of the financial services provider’s stock after selling 1,010 shares during the quarter. Meritage Portfolio Management’s holdings in Aflac were worth $7,015,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Darwin Wealth Management LLC bought a new position in Aflac in the 3rd 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 raised its position in shares of Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after buying an additional 107 shares in the last quarter. Kennebec Savings Bank bought a new stake in Aflac during the third quarter worth about $45,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Aflac in the third quarter worth approximately $51,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Insider Activity

In related news, EVP Audrey B. Tillman sold 24,744 shares of the stock in a transaction that occurred 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 directly owns 222,618 shares of the company’s stock, valued at approximately $23,018,701.20. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Aflac Trading Up 0.1 %

Shares of AFL stock opened at $106.79 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a fifty day moving average price of $105.23 and a 200-day moving average price of $106.74. The company has a market cap of $59.33 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 2.16 and a beta of 0.99. Aflac Incorporated has a 1 year low of $75.44 and a 1 year high of $115.50.

Aflac Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.17%. This is a positive change from Aflac’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, February 19th. Aflac’s dividend payout ratio is currently 30.12%.

Analyst Ratings Changes

Several research firms have issued reports on AFL. Evercore ISI cut their price target on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of Aflac from $96.00 to $98.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Bank of America upped their price target on Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. 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. Finally, Wells Fargo & Company raised their price objective on shares of Aflac from $103.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $103.71.

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.