MTM Investment Management LLC Has $495,000 Position in Aflac Incorporated (NYSE:AFL)

MTM Investment Management LLC lessened its holdings in Aflac Incorporated (NYSE:AFL) by 24.6% during the third quarter, Holdings Channel reports. The fund owned 4,294 shares of the financial services provider’s stock after selling 1,401 shares during the period. MTM Investment Management LLC’s holdings in Aflac were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Y.D. More Investments Ltd acquired a new position in shares of Aflac in the second quarter valued at $25,000. Covestor Ltd boosted its holdings in shares of Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after buying an additional 107 shares during the period. Kennebec Savings Bank acquired a new position in Aflac in the 3rd quarter valued at about $45,000. Catalyst Capital Advisors LLC bought a new position in Aflac in the 3rd quarter valued at about $51,000. Finally, Peterson Financial Group Inc. acquired a new stake in Aflac during the third quarter worth approximately $52,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Aflac Price Performance

Shares of NYSE:AFL opened at $111.12 on Wednesday. The firm has a 50 day moving average of $110.52 and a 200-day moving average of $100.09. Aflac Incorporated has a 12 month low of $75.07 and a 12 month high of $115.50. 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 market capitalization of $61.73 billion, a PE ratio of 16.73, a PEG ratio of 2.15 and a beta of 0.96.

Aflac (NYSE:AFL) last announced its quarterly earnings data 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. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the firm posted $1.84 earnings per share. The firm’s quarterly revenue was down 40.4% compared to the same quarter last year. On average, equities research analysts predict that Aflac Incorporated will post 7.22 EPS for the current fiscal year.

Aflac Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 annualized dividend and a dividend yield of 1.80%. Aflac’s dividend payout ratio is currently 30.12%.

Analyst Upgrades and Downgrades

AFL has been the subject of a number of research analyst reports. Truist Financial boosted their price objective on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays started coverage on Aflac in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target for the company. UBS Group increased their price objective on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Evercore ISI boosted their target price on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, September 26th. Finally, Bank of America raised 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 investment 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.93.

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.