UMB Bank n.a. Trims Position in Aflac Incorporated (NYSE:AFL)

UMB Bank n.a. cut its holdings in shares of Aflac Incorporated (NYSE:AFL) by 4.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 33,793 shares of the financial services provider’s stock after selling 1,427 shares during the quarter. UMB Bank n.a.’s holdings in Aflac were worth $3,018,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Atwood & Palmer Inc. grew its stake in Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 140 shares during the period. OFI Invest Asset Management bought a new stake in Aflac in the first quarter worth $29,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Aflac in the first quarter worth $34,000. Sachetta LLC bought a new stake in Aflac in the fourth quarter worth $35,000. Finally, DiNuzzo Private Wealth Inc. bought a new stake in Aflac in the fourth quarter worth $39,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Stock Performance

Aflac stock traded up $0.71 during mid-day trading on Friday, reaching $110.34. 3,793,514 shares of the stock traded hands, compared to its average volume of 2,221,714. The stock has a market capitalization of $62.70 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 2.76 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.08. Aflac Incorporated has a 12-month low of $73.62 and a 12-month high of $110.68. The business’s 50-day moving average is $96.70 and its 200-day moving average is $88.61.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Aflac had a return on equity of 16.22% and a net margin of 28.35%. Aflac’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 earnings per share. As a group, sell-side analysts predict that Aflac Incorporated will post 6.48 EPS for the current fiscal year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, August 21st. Aflac’s payout ratio is 22.08%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AFL shares. Morgan Stanley boosted their target price on Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Wells Fargo & Company boosted their target price on Aflac from $81.00 to $90.00 and gave the stock an “equal weight” rating in a report on Monday, August 12th. Truist Financial upped their price target on Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a report on Friday, August 2nd. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Finally, UBS Group upped their price target on Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $91.69.

Insiders Place Their Bets

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the company’s stock in a transaction dated 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 owns 18,158 shares in the company, valued at $1,796,552.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

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.