CIBC Asset Management Inc Raises Holdings in Aflac Incorporated (NYSE:AFL)

CIBC Asset Management Inc grew its position in shares of Aflac Incorporated (NYSE:AFL) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,103 shares of the financial services provider’s stock after purchasing an additional 3,969 shares during the quarter. CIBC Asset Management Inc’s holdings in Aflac were worth $10,074,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AFL. Y.D. More Investments Ltd purchased a new position in shares of Aflac during the second quarter worth about $25,000. Covestor Ltd lifted its position in shares of Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 107 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Aflac during the 3rd quarter valued at approximately $45,000. Cedar Wealth Management LLC acquired a new stake in shares of Aflac during the 1st quarter valued at approximately $50,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Aflac during the 3rd quarter valued at approximately $51,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Performance

Shares of Aflac stock opened at $111.32 on Friday. The firm has a market cap of $61.84 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. Aflac Incorporated has a 1 year low of $75.07 and a 1 year high of $115.50. The firm’s 50-day simple moving average is $110.41 and its 200-day simple moving average is $99.59. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping 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 net margin of 22.02% and a return on equity of 16.34%. Aflac’s quarterly revenue was down 40.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.84 earnings per share. Equities analysts forecast that Aflac Incorporated will post 7.22 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.80%. The ex-dividend date is Wednesday, November 20th. Aflac’s dividend payout ratio (DPR) is 30.12%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AFL. TD Cowen initiated coverage on shares of Aflac in a research report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price target for the company. Citigroup lifted their target price on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Morgan Stanley boosted their price objective on shares of Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Truist Financial boosted their price objective on shares of Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Piper Sandler boosted their price objective on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Aflac presently has an average rating of “Hold” and an average price target 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.