Bank of Montreal Can Trims Stock Holdings in Aflac Incorporated $AFL

Bank of Montreal Can trimmed its position in Aflac Incorporated (NYSE:AFL) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 481,126 shares of the financial services provider’s stock after selling 59,325 shares during the period. Bank of Montreal Can’s holdings in Aflac were worth $50,740,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NorthRock Partners LLC grew its stake in Aflac by 1.5% in the first quarter. NorthRock Partners LLC now owns 6,519 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 95 shares during the period. Valued Wealth Advisors LLC grew its stake in Aflac by 24.4% in the first quarter. Valued Wealth Advisors LLC now owns 495 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 97 shares during the period. Duncan Williams Asset Management LLC grew its stake in Aflac by 5.0% in the second quarter. Duncan Williams Asset Management LLC now owns 2,065 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 98 shares during the period. Stiles Financial Services Inc grew its stake in Aflac by 3.4% in the second quarter. Stiles Financial Services Inc now owns 3,070 shares of the financial services provider’s stock worth $324,000 after purchasing an additional 100 shares during the period. Finally, Apexium Financial LP grew its stake in Aflac by 3.4% in the first quarter. Apexium Financial LP now owns 3,103 shares of the financial services provider’s stock worth $345,000 after purchasing an additional 103 shares during the period. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Trading Up 2.2%

Shares of NYSE:AFL opened at $111.23 on Thursday. The stock has a 50 day moving average of $108.69 and a 200 day moving average of $105.63. The company has a market cap of $59.49 billion, a PE ratio of 25.22, a price-to-earnings-growth ratio of 2.93 and a beta of 0.86. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. Aflac Incorporated has a 12-month low of $96.95 and a 12-month high of $115.43.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. The company had revenue of $5.91 billion during the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. As a group, equities research analysts expect that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 19th will be paid a dividend of $0.58 per share. The ex-dividend date is Wednesday, November 19th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.1%. Aflac’s payout ratio is 52.61%.

Aflac announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, August 12th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays reaffirmed an “underweight” rating and set a $104.00 price objective (up previously from $102.00) on shares of Aflac in a research report on Wednesday. UBS Group reduced their price objective on Aflac from $114.00 to $111.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. JPMorgan Chase & Co. raised their price objective on Aflac from $100.00 to $101.00 and gave the company a “neutral” rating in a research report on Wednesday. Piper Sandler set a $125.00 price objective on shares of Aflac and gave the stock an “overweight” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Aflac in a report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $110.20.

Insider Transactions at Aflac

In other news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $102.57, for a total value of $102,570.00. Following the sale, the director directly owned 25,105 shares of the company’s stock, valued at approximately $2,575,019.85. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

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.