Indiana Trust & Investment Management Co Decreases Holdings in Aflac Incorporated (NYSE:AFL)

Indiana Trust & Investment Management Co trimmed its position in Aflac Incorporated (NYSE:AFL) by 2.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,916 shares of the financial services provider’s stock after selling 300 shares during the period. Indiana Trust & Investment Management Co’s holdings in Aflac were worth $1,332,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Y.D. More Investments Ltd bought a new position in Aflac in the 2nd quarter worth $25,000. Atwood & Palmer Inc. increased its holdings in Aflac by 80.0% in the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 140 shares in the last quarter. OFI Invest Asset Management bought a new position in shares of Aflac in the first quarter worth approximately $29,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Aflac in the first quarter worth $34,000. Finally, Cedar Wealth Management LLC purchased a new position in shares of Aflac during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Trading Up 0.1 %

AFL traded up $0.08 during trading hours on Wednesday, reaching $114.07. 357,622 shares of the company’s stock traded hands, compared to its average volume of 2,238,690. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average price of $108.55 and a 200 day moving average price of $95.36. Aflac Incorporated has a 52-week low of $75.07 and a 52-week high of $115.50. The firm has a market capitalization of $64.82 billion, a PE ratio of 12.58, a PEG ratio of 2.62 and a beta of 0.95.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.60 by $0.23. The company had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The firm’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 EPS. As a group, sell-side analysts predict that Aflac Incorporated will post 6.76 EPS for the current fiscal year.

Aflac Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Investors of record on Wednesday, August 21st were issued a $0.50 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.75%. Aflac’s payout ratio is 22.08%.

Insider Buying and Selling

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 18,158 shares in the company, valued at approximately $1,796,552.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Evercore ISI increased their price target on Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. lifted their target price on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Morgan Stanley increased their price target on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Piper Sandler upped their price objective on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Bank of America boosted their price target on shares of Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Aflac presently has an average rating of “Hold” and an average target price of $97.53.

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.