Optas LLC Acquires Shares of 2,341 Aflac Incorporated (NYSE:AFL)

Optas LLC acquired a new stake in Aflac Incorporated (NYSE:AFL) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,341 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other hedge funds also recently added to or reduced their stakes in AFL. Fortitude Family Office LLC acquired a new stake in shares of Aflac during the fourth quarter valued at about $25,000. Atwood & Palmer Inc. grew its stake in shares of Aflac by 80.0% during the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 140 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Aflac during the fourth quarter valued at about $32,000. Criterion Capital Advisors LLC acquired a new position in Aflac in the fourth quarter worth about $33,000. Finally, Sachetta LLC acquired a new position in Aflac in the fourth quarter worth about $35,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Performance

AFL opened at $89.31 on Monday. The business’s 50 day moving average is $87.03 and its 200-day moving average is $83.82. The stock has a market cap of $50.75 billion, a PE ratio of 9.86, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34. Aflac Incorporated has a twelve month low of $68.34 and a twelve month high of $91.15.

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

Aflac Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend was Tuesday, May 21st. This is a boost from Aflac’s previous quarterly dividend of $0.42. Aflac’s payout ratio is 22.08%.

Analyst Ratings Changes

A number of equities analysts recently commented on AFL shares. Piper Sandler lifted their price target on Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Jefferies Financial Group decreased their price target on Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research note on Friday. Truist Financial lifted their price target on Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. StockNews.com upgraded Aflac from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Morgan Stanley lifted their price target on Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.46.

Insider Activity

In related news, Director Joseph L. Moskowitz sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the sale, the director now owns 27,550 shares of the company’s stock, valued at $2,337,342. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Charles D. Lake II sold 22,378 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the sale, the director now owns 61,522 shares of the company’s stock, valued at $5,381,329.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph L. Moskowitz sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total value of $50,904.00. Following the sale, the director now directly owns 27,550 shares in the company, valued at approximately $2,337,342. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Aflac Company 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.