Riverview Trust Co Invests $100,000 in Aflac Incorporated (NYSE:AFL)

Riverview Trust Co purchased a new position in shares of Aflac Incorporated (NYSE:AFL) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,168 shares of the financial services provider’s stock, valued at approximately $100,000.

Several other large investors also recently modified their holdings of the stock. Flputnam Investment Management Co. grew its stake in shares of Aflac by 0.5% in the fourth quarter. Flputnam Investment Management Co. now owns 25,031 shares of the financial services provider’s stock worth $2,065,000 after acquiring an additional 122 shares during the period. ICA Group Wealth Management LLC grew its stake in shares of Aflac by 4.3% in the fourth quarter. ICA Group Wealth Management LLC now owns 2,974 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 122 shares during the period. Simon Quick Advisors LLC grew its stake in shares of Aflac by 4.9% in the fourth quarter. Simon Quick Advisors LLC now owns 2,950 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 139 shares during the period. Atwood & Palmer Inc. grew 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 period. Finally, Legacy Advisors LLC grew its stake in shares of Aflac by 2.8% in the third quarter. Legacy Advisors LLC now owns 5,213 shares of the financial services provider’s stock worth $400,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Price Performance

AFL stock opened at $90.01 on Wednesday. Aflac Incorporated has a one year low of $67.02 and a one year high of $91.15. The company’s fifty day moving average price is $86.57 and its 200-day moving average price is $83.71. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market capitalization of $51.15 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 2.21 and a beta of 0.96.

Aflac (NYSE:AFL) last released its earnings results on Monday, May 6th. The financial services provider reported $1.66 EPS for the quarter, topping the consensus estimate of $1.58 by $0.08. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities analysts anticipate that Aflac Incorporated will post 6.46 EPS for the current fiscal year.

Aflac Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Wednesday, May 22nd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.22%. The ex-dividend date was Tuesday, May 21st. This is a boost from Aflac’s previous quarterly dividend of $0.42. Aflac’s payout ratio is currently 22.08%.

Insider Buying and Selling

In related news, Director Charles D. Lake II sold 22,378 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total value of $1,957,403.66. Following the sale, the director now owns 61,522 shares in the company, valued at $5,381,329.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Aflac news, Director Joseph L. Moskowitz sold 600 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total transaction of $50,904.00. Following the transaction, the director now owns 27,550 shares in the company, valued at $2,337,342. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles D. Lake II sold 22,378 shares of the business’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the transaction, the director now owns 61,522 shares in the company, valued at approximately $5,381,329.34. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Morgan Stanley raised their price objective on shares of Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company raised their price objective on shares of Aflac from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Keefe, Bruyette & Woods raised their price objective on shares of Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Piper Sandler lifted their price target on shares of Aflac from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $82.38.

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.