Coastline Trust Co Has $6.54 Million Stock Holdings in Aflac Incorporated (NYSE:AFL)

Coastline Trust Co raised its stake in shares of Aflac Incorporated (NYSE:AFL) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,518 shares of the financial services provider’s stock after buying an additional 318 shares during the period. Coastline Trust Co’s holdings in Aflac were worth $6,542,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AFL. Y.D. More Investments Ltd acquired a new position in Aflac in the second quarter worth approximately $25,000. Covestor Ltd grew its position in Aflac by 41.8% in the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 107 shares in the last quarter. Kennebec Savings Bank bought a new stake in Aflac in the third quarter worth approximately $45,000. Cedar Wealth Management LLC acquired a new position in shares of Aflac during the 1st quarter worth $50,000. Finally, Catalyst Capital Advisors LLC bought a new position in shares of Aflac during the 3rd quarter valued at $51,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AFL has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on shares of Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Evercore ISI upped their price target on Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, September 26th. Truist Financial raised their price objective on Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Piper Sandler upped their target price on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price target on Aflac from $106.00 to $107.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $97.93.

Aflac Stock Performance

NYSE:AFL opened at $111.32 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’s 50-day moving average is $110.41 and its 200-day moving average is $99.48. Aflac Incorporated has a 52-week low of $75.07 and a 52-week high of $115.50. 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 results 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 firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the firm posted $1.84 EPS. The company’s revenue for the quarter was down 40.4% on a year-over-year basis. Equities research analysts anticipate that Aflac Incorporated will post 7.22 earnings per share for the current year.

Aflac Announces Dividend

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 paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 dividend on an annualized basis and a yield of 1.80%. 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.