Miracle Mile Advisors LLC Sells 132 Shares of Aflac Incorporated (NYSE:AFL)

Miracle Mile Advisors LLC decreased its stake in shares of Aflac Incorporated (NYSE:AFL) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,010 shares of the financial services provider’s stock after selling 132 shares during the period. Miracle Mile Advisors LLC’s holdings in Aflac were worth $560,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Aflac by 6.7% during the 1st quarter. Nordea Investment Management AB now owns 1,806,475 shares of the financial services provider’s stock valued at $155,140,000 after buying an additional 113,226 shares during the period. Czech National Bank boosted its holdings in shares of Aflac by 6.4% in the second quarter. Czech National Bank now owns 98,535 shares of the financial services provider’s stock worth $8,800,000 after buying an additional 5,912 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Aflac by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 718,067 shares of the financial services provider’s stock valued at $61,653,000 after buying an additional 22,637 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Aflac by 13.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 708,248 shares of the financial services provider’s stock valued at $60,810,000 after buying an additional 86,578 shares during the last quarter. Finally, M&G Plc purchased a new position in shares of Aflac during the 2nd quarter worth $2,535,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Up 0.6 %

NYSE AFL opened at $112.47 on Wednesday. The stock has a 50 day moving average price of $106.77 and a 200-day moving average price of $94.19. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50. 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 company has a market capitalization of $63.91 billion, a P/E ratio of 12.41, a P/E/G ratio of 2.60 and a beta of 0.95.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $4.10 billion. During the same quarter last year, the business earned $1.58 earnings per share. Aflac’s quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts predict that Aflac Incorporated will post 6.75 EPS for the current fiscal year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a yield of 1.78%. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Analysts Set New Price Targets

AFL has been the subject of several analyst reports. Piper Sandler upped their price objective on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their price objective on Aflac from $81.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Monday, August 12th. Morgan Stanley boosted their price objective on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Barclays began coverage on shares of Aflac in a research note on Wednesday, September 4th. They set an “underweight” rating and a $96.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Aflac has an average rating of “Hold” and a consensus price target of $95.43.

Insider Activity

In other news, Director Thomas J. Kenny sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.