Legacy Financial Strategies LLC Lowers Stake in Aflac Incorporated (NYSE:AFL)

Legacy Financial Strategies LLC lessened its position in shares of Aflac Incorporated (NYSE:AFL) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,658 shares of the financial services provider’s stock after selling 629 shares during the period. Aflac makes up 0.8% of Legacy Financial Strategies LLC’s portfolio, making the stock its 21st biggest position. Legacy Financial Strategies LLC’s holdings in Aflac were worth $3,147,000 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 purchased a new stake in Aflac during the fourth quarter valued at about $25,000. Bruce G. Allen Investments LLC acquired a new position in shares of Aflac during the fourth quarter worth about $32,000. Criterion Capital Advisors LLC acquired a new position in shares of Aflac during the fourth quarter worth about $33,000. Arlington Trust Co LLC acquired a new position in shares of Aflac during the fourth quarter worth about $35,000. Finally, Sachetta LLC acquired a new position in shares of Aflac during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Down 0.1 %

Shares of NYSE AFL traded down $0.09 during mid-day trading on Friday, reaching $89.67. The company had a trading volume of 5,240,833 shares, compared to its average volume of 2,237,083. Aflac Incorporated has a twelve month low of $66.91 and a twelve month high of $90.22. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.08 and a current ratio of 0.08. The stock has a market capitalization of $50.95 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96. The stock’s 50 day moving average is $85.99 and its 200-day moving average is $83.53.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Aflac’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.55 earnings per share. As a group, equities analysts anticipate that Aflac Incorporated will post 6.46 earnings per share for the current fiscal year.

Aflac Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.23%. This is an increase from Aflac’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, May 21st. Aflac’s dividend payout ratio is presently 22.08%.

Insiders Place Their Bets

In other Aflac news, Director Charles D. Lake II sold 22,378 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the transaction, the director now directly owns 61,522 shares of the company’s stock, valued at $5,381,329.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Charles D. Lake II sold 22,378 shares of the firm’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 sale, the director now directly owns 61,522 shares of the company’s stock, valued at $5,381,329.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph L. Moskowitz sold 600 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total value of $50,904.00. Following the completion of the sale, the director now directly owns 27,550 shares in the company, valued at $2,337,342. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AFL shares. Keefe, Bruyette & Woods boosted their price objective on Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. StockNews.com upgraded Aflac from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Truist Financial boosted their price target on Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Morgan Stanley increased their price target on Aflac from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Monday, April 15th. Finally, Piper Sandler increased their price objective on Aflac from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.38.

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.