Legacy Financial Strategies LLC Sells 629 Shares of Aflac Incorporated (NYSE:AFL)

Legacy Financial Strategies LLC cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 1.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,658 shares of the financial services provider’s stock after selling 629 shares during the quarter. Aflac makes up approximately 0.8% of Legacy Financial Strategies LLC’s holdings, making the stock its 21st biggest position. Legacy Financial Strategies LLC’s holdings in Aflac were worth $3,147,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in AFL. Loomis Sayles & Co. L P grew its stake in shares of Aflac by 17.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 969 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 146 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Aflac in the 3rd quarter worth approximately $2,489,000. Provence Wealth Management Group bought a new position in Aflac in the 3rd quarter worth approximately $60,000. Cardiff Park Advisors LLC bought a new position in Aflac in the 3rd quarter worth approximately $206,000. Finally, Dark Forest Capital Management LP bought a new position in Aflac in the 3rd quarter worth approximately $288,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Stock Down 0.1 %

AFL stock traded down $0.09 during trading on Friday, reaching $89.67. 5,240,833 shares of the company traded hands, compared to its average volume of 2,237,083. Aflac Incorporated has a 12 month low of $66.91 and a 12 month high of $90.22. The business has a 50 day simple moving average of $85.99 and a 200 day simple moving average of $83.53. The company has a market capitalization of $50.95 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.08 and a current ratio of 0.08.

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

Aflac Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.23%. This is a boost from Aflac’s previous quarterly dividend of $0.42. The ex-dividend date was Tuesday, May 21st. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Analysts Set New Price Targets

AFL has been the subject of several recent analyst reports. Truist Financial upped 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. Wells Fargo & Company upped their price objective on Aflac from $81.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, May 10th. Morgan Stanley upped their price objective on Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, Piper Sandler upped their price objective on Aflac from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Aflac has an average rating of “Hold” and a consensus target price of $82.38.

Insider Transactions at Aflac

In related news, Director Charles D. Lake II sold 22,378 shares of Aflac 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 completion of the transaction, the director now directly owns 61,522 shares in the company, valued at $5,381,329.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Aflac news, Director Charles D. Lake II sold 22,378 shares of the firm’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 value of $1,957,403.66. Following the sale, the director now directly 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 can be accessed through the SEC website. Also, Director Joseph L. Moskowitz sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total value of $50,904.00. Following the completion of the sale, the director now directly owns 27,550 shares in the company, valued at $2,337,342. The disclosure for this sale can be found here. Company 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.