Aflac Incorporated (NYSE:AFL) Shares Bought by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its holdings in shares of Aflac Incorporated (NYSE:AFL) by 30.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,600 shares of the financial services provider’s stock after buying an additional 846 shares during the period. King Luther Capital Management Corp’s holdings in Aflac were worth $322,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AFL. Y.D. More Investments Ltd purchased a new position in shares of Aflac in the 2nd quarter valued at approximately $25,000. Atwood & Palmer Inc. lifted its holdings 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 worth $27,000 after purchasing an additional 140 shares during the period. OFI Invest Asset Management purchased a new position in Aflac in the 1st quarter valued at $29,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Aflac in the 1st quarter valued at $34,000. Finally, Cedar Wealth Management LLC purchased a new position in Aflac during the 1st quarter worth $50,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Analyst Ratings Changes

AFL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Aflac from $80.00 to $83.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 2nd. Piper Sandler increased their target price on Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, June 28th. Jefferies Financial Group decreased their price target on Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a research note on Friday, June 28th. Citigroup upped their price objective on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company raised their target price on Aflac from $81.00 to $90.00 and gave the company an “equal weight” rating in a report on Monday, August 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.50.

Insider Activity

In related news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the completion of the sale, the director now owns 18,158 shares in the company, valued at approximately $1,796,552.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Aflac Price Performance

Shares of NYSE AFL opened at $107.92 on Monday. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 0.29. The stock has a market cap of $61.32 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 2.53 and a beta of 0.95. The company’s 50-day moving average price is $102.88 and its 200 day moving average price is $92.03. Aflac Incorporated has a 52 week low of $74.89 and a 52 week high of $111.14.

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, topping analysts’ consensus estimates of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the company posted $1.58 EPS. The company’s revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that Aflac Incorporated will post 6.75 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Stockholders of record on Wednesday, August 21st were issued a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.85%. Aflac’s dividend payout ratio (DPR) is 22.08%.

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.