Vest Financial LLC Has $86.24 Million Stake in Aflac Incorporated (NYSE:AFL)

Vest Financial LLC increased its position in Aflac Incorporated (NYSE:AFL) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 771,375 shares of the financial services provider’s stock after buying an additional 958 shares during the period. Aflac accounts for about 1.7% of Vest Financial LLC’s investment portfolio, making the stock its biggest position. Vest Financial LLC’s holdings in Aflac were worth $86,240,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Y.D. More Investments Ltd purchased a new position in shares of Aflac in the second quarter valued at $25,000. OFI Invest Asset Management bought a new position in shares of Aflac in the 1st quarter valued at about $29,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Aflac during the first quarter worth approximately $34,000. Cedar Wealth Management LLC purchased a new stake in Aflac during the first quarter valued at approximately $50,000. Finally, Fairscale Capital LLC purchased a new position in shares of Aflac in the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Down 0.4 %

Aflac stock traded down $0.49 during mid-day trading on Friday, reaching $114.50. 1,996,871 shares of the company were exchanged, compared to its average volume of 2,239,971. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10. The firm has a market cap of $65.06 billion, a P/E ratio of 12.64, a PEG ratio of 2.62 and a beta of 0.95. The business has a fifty day moving average of $109.40 and a 200 day moving average of $95.91. Aflac Incorporated has a 12-month low of $75.07 and a 12-month high of $115.50.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $4.10 billion. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. Research analysts anticipate that Aflac Incorporated will post 6.76 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 2nd. Investors of record on Wednesday, August 21st were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 annualized dividend and a dividend yield of 1.75%. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Wall Street Analysts Forecast Growth

AFL has been the subject of several recent analyst reports. Bank of America lifted their price objective on shares of Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised their price objective on shares of Aflac from $90.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Truist Financial upped 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. Barclays initiated coverage on Aflac in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price objective on the stock. Finally, Piper Sandler raised their price target on shares of Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $97.53.

Insider Activity at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction on Wednesday, August 7th. The shares were 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 approximately $1,796,552.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

About Aflac

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.