Mattern Capital Management LLC Reduces Stake in Aflac Incorporated (NYSE:AFL)

Mattern Capital Management LLC lessened its stake in shares of Aflac Incorporated (NYSE:AFL) by 7.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 112,652 shares of the financial services provider’s stock after selling 9,003 shares during the period. Aflac comprises approximately 1.5% of Mattern Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Mattern Capital Management LLC’s holdings in Aflac were worth $11,653,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of AFL. Darwin Wealth Management LLC bought a new stake in Aflac in the third quarter valued at approximately $34,000. Raelipskie Partnership bought a new stake in Aflac in the third quarter valued at approximately $38,000. Covestor Ltd raised its stake in Aflac by 41.8% in the third 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 period. Kennebec Savings Bank bought a new stake in Aflac in the third quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Aflac in the third quarter valued at approximately $51,000. Institutional investors own 67.44% of the company’s stock.

Aflac Stock Performance

Shares of Aflac stock opened at $104.31 on Friday. The company has a current ratio of 0.10, a quick ratio of 0.08 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $104.16 and a two-hundred day moving average price of $107.26. Aflac Incorporated has a 1-year low of $78.60 and a 1-year high of $115.50. The company has a market cap of $57.95 billion, a P/E ratio of 10.87, a PEG ratio of 3.30 and a beta of 0.99.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Aflac had a return on equity of 16.20% and a net margin of 28.76%. As a group, analysts anticipate that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 annualized dividend and a dividend yield of 2.22%. Aflac’s dividend payout ratio (DPR) is currently 20.83%.

Analysts Set New Price Targets

AFL has been the topic of several research reports. Truist Financial upped their target price on Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets initiated coverage on Aflac in a research report on Thursday, January 23rd. They issued a “market perform” rating and a $111.00 target price on the stock. Keefe, Bruyette & Woods decreased their target price on Aflac from $107.00 to $104.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 12th. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Finally, Barclays decreased their target price on Aflac from $98.00 to $95.00 and set an “underweight” rating on the stock in a research report on Friday, February 7th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $102.86.

Insider Activity

In other news, EVP Audrey B. Tillman sold 24,744 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $103.40, for a total value of $2,558,529.60. Following the completion of the sale, the executive vice president now directly owns 222,618 shares in the company, valued at $23,018,701.20. This trade represents a 10.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by company insiders.

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.