Aflac Incorporated $AFL Stock Sold by Rainey & Randall Wealth Advisors Inc.

Rainey & Randall Wealth Advisors Inc. reduced its holdings in shares of Aflac Incorporated (NYSE:AFL) by 16.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 25,609 shares of the financial services provider’s stock after selling 5,000 shares during the quarter. Aflac makes up about 0.4% of Rainey & Randall Wealth Advisors Inc.’s portfolio, making the stock its 25th biggest holding. Rainey & Randall Wealth Advisors Inc.’s holdings in Aflac were worth $2,863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Aflac in the second quarter valued at $4,093,787,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Aflac by 27.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,201,217 shares of the financial services provider’s stock valued at $609,843,000 after purchasing an additional 1,132,091 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Aflac by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 4,550,855 shares of the financial services provider’s stock valued at $499,216,000 after purchasing an additional 67,650 shares during the period. Legal & General Group Plc acquired a new stake in shares of Aflac during the 2nd quarter worth about $404,639,000. Finally, Amundi lifted its stake in shares of Aflac by 22.6% during the 1st quarter. Amundi now owns 3,268,209 shares of the financial services provider’s stock worth $358,555,000 after buying an additional 603,426 shares during the last quarter. 67.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America reduced their target price on shares of Aflac from $137.00 to $133.00 and set a “buy” rating for the company in a report on Monday, October 12th. Wolfe Research started coverage on shares of Aflac in a report on Wednesday, August 19th. They issued an “underperform” rating and a $103.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Aflac from $122.00 to $116.00 and set an “equal weight” rating on the stock in a report on Monday, October 12th. Weiss Ratings downgraded shares of Aflac from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Tuesday, October 20th. Finally, Piper Sandler restated an “overweight” rating and set a $138.00 price objective (up from $130.00) on shares of Aflac in a report on Monday, August 10th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aflac currently has a consensus rating of “Hold” and an average price target of $117.20.

Aflac Price Performance

NYSE:AFL opened at $120.95 on Tuesday. Aflac Incorporated has a 52 week low of $105.43 and a 52 week high of $130.22. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.12 and a current ratio of 0.12. The firm’s 50-day simple moving average is $116.39 and its 200 day simple moving average is $115.50. The firm has a market cap of $60.64 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 1.90 and a beta of 0.56.

Aflac (NYSE:AFL) last announced its earnings results on Thursday, August 6th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.01). Aflac had a return on equity of 13.27% and a net margin of 26.91%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, sell-side analysts predict that Aflac Incorporated will post 7.04 earnings per share for the current year.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Wednesday, August 19th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.44 dividend on an annualized basis and a yield of 2.0%. Aflac’s dividend payout ratio is currently 26.15%.

Insider Transactions at Aflac

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 113,611 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $118.53, for a total transaction of $13,466,311.83. Following the transaction, the insider owned 50,134,329 shares in the company, valued at $5,942,422,016.37. This trade represents a 0.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 713,662 shares of company stock worth $83,323,978 over the last 90 days. Corporate insiders own 0.80% of the company’s stock.

About Aflac

Aflac Incorporated (NYSE:AFL) is an insurance company specializing in supplemental health and life insurance. Through its policies, the company helps individuals and families manage expenses that may not be fully covered by major medical insurance, including deductibles, copayments and other out-of-pocket costs.

Aflac offers products such as accident, cancer, critical illness, hospital indemnity, dental and vision, disability, life and long-term care insurance. Many of its supplemental policies provide cash benefits directly to policyholders, who can generally use the funds according to their individual needs.