Tower Bridge Advisors Sells 100 Shares of Aflac Incorporated (NYSE:AFL)

Tower Bridge Advisors trimmed its position in Aflac Incorporated (NYSE:AFL) by 0.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 16,256 shares of the financial services provider’s stock after selling 100 shares during the quarter. Tower Bridge Advisors’ holdings in Aflac were worth $1,817,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AFL. Strategic Financial Concepts LLC increased its position in Aflac by 7,001.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 667,706 shares of the financial services provider’s stock valued at $596,000 after buying an additional 658,303 shares in the last quarter. International Assets Investment Management LLC increased its position in Aflac by 10,878.5% in the 3rd quarter. International Assets Investment Management LLC now owns 559,903 shares of the financial services provider’s stock valued at $62,597,000 after buying an additional 554,803 shares in the last quarter. Truist Financial Corp increased its holdings in Aflac by 26.6% during the 2nd quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock worth $172,338,000 after purchasing an additional 405,847 shares in the last quarter. Swedbank AB bought a new stake in Aflac during the 1st quarter worth approximately $27,588,000. Finally, Dimensional Fund Advisors LP increased its holdings in Aflac by 6.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,807,079 shares of the financial services provider’s stock worth $429,319,000 after purchasing an additional 285,576 shares in the last quarter. 67.44% of the stock is owned by institutional investors.

Aflac Price Performance

Aflac stock opened at $111.32 on Friday. 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 business’s 50 day simple moving average is $110.41 and its 200 day simple moving average is $99.59. The company has a market cap of $61.84 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 2.13 and a beta of 0.96.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The business had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. Aflac’s revenue for the quarter was down 40.4% on a year-over-year basis. Sell-side analysts forecast that Aflac Incorporated will post 7.22 EPS for the current year.

Aflac Dividend Announcement

The company also recently disclosed 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 is Wednesday, November 20th. This represents a $2.00 annualized dividend and a yield of 1.80%. Aflac’s payout ratio is 30.12%.

Analyst Upgrades and Downgrades

AFL has been the subject of a number of recent research reports. Citigroup boosted their price objective on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Wells Fargo & Company boosted their price objective on Aflac from $106.00 to $107.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. UBS Group boosted their price objective on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. TD Cowen initiated coverage on Aflac in a report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective for the company. Finally, 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. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $97.93.

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.