Cornerstone Wealth Management LLC Has $5.54 Million Holdings in Aflac Incorporated (NYSE:AFL)

Cornerstone Wealth Management LLC decreased its holdings in Aflac Incorporated (NYSE:AFL) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,564 shares of the financial services provider’s stock after selling 2,328 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Aflac were worth $5,541,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Darwin Wealth Management LLC bought a new stake in shares of Aflac in the third quarter worth $34,000. Raelipskie Partnership bought a new stake in Aflac during the third quarter valued at $38,000. Covestor Ltd boosted its position in Aflac by 41.8% during the third 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 last quarter. Kennebec Savings Bank bought a new stake in Aflac during the third quarter valued at $45,000. Finally, Catalyst Capital Advisors LLC bought a new stake in Aflac during the third quarter valued at $51,000. Institutional investors own 67.44% of the company’s stock.

Insider Activity

In other news, EVP Audrey B. Tillman sold 24,744 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the completion of the transaction, the executive vice president now directly owns 222,618 shares of the company’s stock, valued at $23,018,701.20. This represents a 10.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on AFL shares. StockNews.com raised shares of Aflac from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods cut their price objective on shares of Aflac from $108.00 to $107.00 and set a “market perform” rating on the stock in a research report on Friday, January 10th. Piper Sandler increased their price objective on shares of Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price objective on shares of Aflac from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 7th. Finally, BMO Capital Markets began coverage on shares of Aflac in a research report on Thursday. They set a “market perform” rating and a $111.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.67.

Aflac Trading Up 0.1 %

NYSE:AFL opened at $104.43 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a market cap of $58.02 billion, a price-to-earnings ratio of 15.73, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00. Aflac Incorporated has a 52 week low of $75.07 and a 52 week high of $115.50. The firm has a 50-day moving average price of $106.12 and a two-hundred day moving average price of $105.71.

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. The firm had revenue of $2.95 billion during 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%. The company’s revenue for the quarter was down 40.4% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. On average, equities analysts expect that Aflac Incorporated will post 7.26 earnings per share for the current fiscal year.

Aflac Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be given a dividend of $0.58 per share. This is an increase from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Wednesday, February 19th. Aflac’s dividend payout ratio is currently 30.12%.

About Aflac

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.