Estabrook Capital Management Has $6.38 Million Stock Holdings in Aflac Incorporated (NYSE:AFL)

Estabrook Capital Management cut its holdings in Aflac Incorporated (NYSE:AFLFree Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,337 shares of the financial services provider’s stock after selling 1,740 shares during the quarter. Aflac comprises approximately 1.0% of Estabrook Capital Management’s holdings, making the stock its 27th largest position. Estabrook Capital Management’s holdings in Aflac were worth $6,380,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AFL. Fortitude Family Office LLC bought a new position in shares of Aflac in the fourth quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new position in shares of Aflac in the fourth quarter valued at approximately $32,000. Criterion Capital Advisors LLC bought a new position in shares of Aflac in the fourth quarter valued at approximately $33,000. Sachetta LLC bought a new position in shares of Aflac in the fourth quarter valued at approximately $35,000. Finally, Arlington Trust Co LLC bought a new position in shares of Aflac in the fourth quarter valued at approximately $35,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Aflac

In other news, Director Charles D. Lake II sold 22,378 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total value of $1,957,403.66. Following the completion of the sale, the director now directly owns 61,522 shares of the company’s stock, valued at approximately $5,381,329.34. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Aflac news, Director Joseph L. Moskowitz sold 600 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the completion of the transaction, the director now owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles D. Lake II sold 22,378 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total value of $1,957,403.66. Following the transaction, the director now directly owns 61,522 shares of the company’s stock, valued at approximately $5,381,329.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,978 shares of company stock worth $3,098,128. Company insiders own 0.80% of the company’s stock.

Aflac Price Performance

NYSE AFL traded down $1.03 on Monday, hitting $88.84. 953,562 shares of the company were exchanged, compared to its average volume of 2,220,414. The firm has a 50 day moving average of $84.91 and a two-hundred day moving average of $82.94. The company has a market cap of $50.48 billion, a P/E ratio of 9.90, a P/E/G ratio of 2.22 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 0.34. Aflac Incorporated has a 1-year low of $66.58 and a 1-year high of $89.91.

Aflac (NYSE:AFLGet Free Report) last issued its quarterly earnings results on Monday, May 6th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.08. The business had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $4.09 billion. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. On average, equities analysts predict that Aflac Incorporated will post 6.46 EPS for the current year.

Aflac Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 22nd will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, May 21st. This is an increase from Aflac’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of 2.25%. Aflac’s dividend payout ratio is presently 22.08%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AFL. Wells Fargo & Company lifted their price target on shares of Aflac from $81.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, May 10th. Piper Sandler boosted their target price on shares of Aflac from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. StockNews.com raised shares of Aflac from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Truist Financial boosted their target price on shares of Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, Morgan Stanley boosted their price target on shares of Aflac from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $82.38.

Get Our Latest Report on Aflac

Aflac Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Aflac (NYSE:AFL)

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