Aflac Incorporated (NYSE:AFL) Holdings Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in Aflac Incorporated (NYSE:AFL) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,103 shares of the financial services provider’s stock after acquiring an additional 3,969 shares during the period. CIBC Asset Management Inc’s holdings in Aflac were worth $10,074,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. OneDigital Investment Advisors LLC boosted its holdings in shares of Aflac by 3.8% in the third quarter. OneDigital Investment Advisors LLC now owns 21,224 shares of the financial services provider’s stock valued at $2,373,000 after acquiring an additional 771 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Aflac by 16.0% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,634 shares of the financial services provider’s stock valued at $1,636,000 after acquiring an additional 2,015 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Aflac by 17.1% in the third quarter. Metis Global Partners LLC now owns 39,509 shares of the financial services provider’s stock valued at $4,417,000 after acquiring an additional 5,765 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Aflac by 1.2% in the third quarter. Huntington National Bank now owns 202,455 shares of the financial services provider’s stock valued at $22,634,000 after acquiring an additional 2,418 shares in the last quarter. Finally, Empower Advisory Group LLC boosted its holdings in shares of Aflac by 7.8% in the third quarter. Empower Advisory Group LLC now owns 3,558 shares of the financial services provider’s stock valued at $398,000 after acquiring an additional 258 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AFL has been the subject of several recent research reports. UBS Group increased their target price on shares of Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Truist Financial increased their target price on shares of Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Citigroup upped their price target on shares of Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on shares of Aflac from $106.00 to $107.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI increased their target price on shares of Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $97.93.

Aflac Stock Performance

NYSE AFL opened at $111.32 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $61.84 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 2.13 and a beta of 0.96. The company’s fifty day moving average is $110.41 and its two-hundred day moving average is $99.59. Aflac Incorporated has a 52-week low of $75.07 and a 52-week high of $115.50.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.47. The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The firm’s revenue for the quarter was down 40.4% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. Equities research analysts forecast that Aflac Incorporated will post 7.22 EPS for the current year.

Aflac Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, November 20th. Aflac’s dividend payout ratio is currently 30.12%.

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.