Trustmark National Bank Trust Department trimmed its position in Aflac Incorporated (NYSE:AFL - Free Report) by 19.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,328 shares of the financial services provider's stock after selling 4,608 shares during the quarter. Trustmark National Bank Trust Department's holdings in Aflac were worth $2,161,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the business. Spinnaker Trust raised its stake in shares of Aflac by 2.7% in the third quarter. Spinnaker Trust now owns 3,620 shares of the financial services provider's stock valued at $405,000 after acquiring an additional 95 shares during the last quarter. Secure Asset Management LLC raised its stake in shares of Aflac by 1.0% during the third quarter. Secure Asset Management LLC now owns 9,783 shares of the financial services provider's stock worth $1,094,000 after buying an additional 96 shares during the last quarter. Ascent Group LLC lifted its stake in shares of Aflac by 0.6% in the 2nd quarter. Ascent Group LLC now owns 17,231 shares of the financial services provider's stock valued at $1,539,000 after purchasing an additional 99 shares during the period. Ieq Capital LLC grew its position in shares of Aflac by 0.5% during the 2nd quarter. Ieq Capital LLC now owns 21,775 shares of the financial services provider's stock worth $1,945,000 after buying an additional 101 shares during the period. Finally, New Century Financial Group LLC increased its stake in Aflac by 2.5% in the third quarter. New Century Financial Group LLC now owns 4,198 shares of the financial services provider's stock valued at $469,000 after purchasing an additional 101 shares in the last quarter. 67.44% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on AFL shares. Evercore ISI increased their target price on Aflac from $84.00 to $90.00 and gave the stock an "underperform" rating in a report on Thursday, September 26th. Morgan Stanley increased their target price on shares of Aflac from $91.00 to $98.00 and gave the stock an "equal weight" rating in a report on Monday, August 19th. TD Cowen began coverage on shares of Aflac in a report on Wednesday, October 9th. They set a "hold" rating and a $102.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Aflac from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Thursday, October 3rd. Finally, Piper Sandler increased their price target on Aflac from $114.00 to $122.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Aflac has an average rating of "Hold" and a consensus price target of $97.93.
Check Out Our Latest Research Report on Aflac
AFL stock opened at $110.24 on Thursday. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08. The stock has a market cap of $61.24 billion, a PE ratio of 16.60, a P/E/G ratio of 2.15 and a beta of 0.96. The firm has a 50 day simple moving average of $110.58 and a two-hundred day simple moving average of $100.16.
Aflac (NYSE:AFL - Get Free Report) last announced 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. The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company's revenue was down 40.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. On average, analysts predict that Aflac Incorporated will post 7.22 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, November 20th. Aflac's payout ratio is 30.12%.
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.
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