First Horizon Advisors Inc. Sells 2,749 Shares of Aflac Incorporated (NYSE:AFL)

First Horizon Advisors Inc. decreased its position in Aflac Incorporated (NYSE:AFL) by 35.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,068 shares of the financial services provider’s stock after selling 2,749 shares during the quarter. First Horizon Advisors Inc.’s holdings in Aflac were worth $567,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AFL. Y.D. More Investments Ltd purchased a new stake in shares of Aflac during the second quarter valued at approximately $25,000. Covestor Ltd grew 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 purchasing an additional 107 shares during the period. Kennebec Savings Bank bought a new position in shares of Aflac during the 3rd quarter valued at approximately $45,000. Catalyst Capital Advisors LLC bought a new stake in shares of Aflac in the 3rd quarter worth approximately $51,000. Finally, Peterson Financial Group Inc. bought a new position in Aflac during the third quarter valued at $52,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Wall Street Analyst Weigh In

AFL has been the topic of several research reports. Piper Sandler boosted their target price on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Aflac from $106.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Evercore ISI upped their price target on shares of Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Finally, Barclays started coverage on Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $97.93.

Aflac Price Performance

AFL opened at $112.09 on Friday. Aflac Incorporated has a 12-month low of $75.07 and a 12-month high of $115.50. The company has a market cap of $62.27 billion, a price-to-earnings ratio of 16.88, a price-to-earnings-growth ratio of 2.14 and a beta of 0.96. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The stock has a fifty day simple moving average of $110.66 and a two-hundred day simple moving average of $100.24.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. Aflac’s revenue was down 40.4% on a year-over-year basis. During the same period last year, the company posted $1.84 EPS. Research analysts predict that Aflac Incorporated will post 7.22 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $2.00 annualized dividend and a dividend yield of 1.78%. Aflac’s 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.