Texas Capital Bank Wealth Management Services Inc Buys New Position in Aflac Incorporated (NYSE:AFL)

Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Aflac Incorporated (NYSE:AFL) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,232 shares of the financial services provider’s stock, valued at approximately $697,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AFL. Y.D. More Investments Ltd purchased a new stake in shares of Aflac in the second quarter valued at about $25,000. Darwin Wealth Management LLC purchased a new stake in Aflac in the 3rd quarter valued at about $34,000. Covestor Ltd increased its stake in Aflac by 41.8% in the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after buying an additional 107 shares during the last quarter. Kennebec Savings Bank bought a new position in shares of Aflac during the 3rd quarter worth approximately $45,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Aflac in the 3rd quarter worth approximately $51,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Performance

Shares of AFL opened at $107.74 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $59.85 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 2.04 and a beta of 0.97. Aflac Incorporated has a 52-week low of $75.07 and a 52-week high of $115.50. The stock’s 50-day simple moving average is $111.11 and its 200 day simple moving average is $102.01.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business earned $1.84 earnings per share. Aflac’s revenue was down 40.4% compared to the same quarter last year. Research analysts forecast that Aflac Incorporated will post 7.27 EPS for the current fiscal year.

Aflac Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Wednesday, February 19th. This is an increase from Aflac’s previous quarterly dividend of $0.50. Aflac’s dividend payout ratio (DPR) is 30.12%.

Analyst Ratings Changes

A number of analysts recently commented on AFL shares. Wells Fargo & Company lifted their price target on Aflac to $107.00 and gave the stock a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Piper Sandler increased their price target on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Monday, August 19th. Finally, TD Cowen assumed coverage on shares of Aflac in a research note on Wednesday, October 9th. They issued a “hold” rating and a $102.00 target price on the stock. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $98.73.

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.