5,000 Shares in Aflac Incorporated (NYSE:AFL) Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC bought a new stake in Aflac Incorporated (NYSE:AFL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 5,000 shares of the financial services provider’s stock, valued at approximately $447,000.

Several other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Aflac by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,807,079 shares of the financial services provider’s stock valued at $429,319,000 after buying an additional 285,576 shares during the period. Brown Brothers Harriman & Co. raised its position in Aflac by 2.5% in the second quarter. Brown Brothers Harriman & Co. now owns 9,837 shares of the financial services provider’s stock valued at $879,000 after purchasing an additional 243 shares during the period. Plato Investment Management Ltd lifted its stake in shares of Aflac by 9.4% in the 2nd quarter. Plato Investment Management Ltd now owns 3,308 shares of the financial services provider’s stock valued at $295,000 after purchasing an additional 285 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Aflac by 2.4% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,898 shares of the financial services provider’s stock worth $1,420,000 after purchasing an additional 378 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in shares of Aflac by 27.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,243,189 shares of the financial services provider’s stock worth $111,029,000 after purchasing an additional 268,694 shares during the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Up 0.6 %

Shares of Aflac stock opened at $108.59 on Monday. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. Aflac Incorporated has a 52-week low of $74.89 and a 52-week high of $111.14. The company has a market capitalization of $60.81 billion, a P/E ratio of 11.99, a P/E/G ratio of 2.53 and a beta of 0.95. The company has a 50 day moving average of $101.04 and a 200 day moving average of $91.04.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.23. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The company’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. As a group, research analysts forecast that Aflac Incorporated will post 6.75 EPS for the current fiscal year.

Aflac Dividend Announcement

The firm also recently disclosed 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 1.84%. Aflac’s payout ratio is currently 22.08%.

Insider Transactions at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of the company’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 value of $197,880.00. Following the completion of the transaction, the director now directly owns 18,158 shares of the company’s stock, valued at $1,796,552.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AFL. UBS Group upped their target price on shares of Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Citigroup increased their price objective on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Truist Financial boosted their target price on Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Bank of America upped their price target on Aflac from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group cut their price objective on Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.50.

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.