Victory Capital Management Inc. Reduces Stake in Aflac Incorporated (NYSE:AFL)

Victory Capital Management Inc. cut its holdings in shares of Aflac Incorporated (NYSE:AFL) by 6.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 315,989 shares of the financial services provider’s stock after selling 21,556 shares during the quarter. Victory Capital Management Inc. owned 0.06% of Aflac worth $35,328,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Y.D. More Investments Ltd acquired a new position in Aflac during the second quarter valued at $25,000. Covestor Ltd raised its stake 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 buying an additional 107 shares during the last quarter. Kennebec Savings Bank acquired a new position in shares of Aflac in the 3rd quarter valued at about $45,000. Cedar Wealth Management LLC purchased a new stake in shares of Aflac in the first quarter worth about $50,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in Aflac during the third quarter worth about $51,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Aflac Stock Up 1.5 %

NYSE AFL opened at $111.32 on Friday. The business has a fifty day moving average price of $110.41 and a 200 day moving average price of $99.48. 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 company has a market cap of $61.84 billion, a P/E ratio of 16.77, a P/E/G ratio of 2.13 and a beta of 0.96. Aflac Incorporated has a one year low of $75.07 and a one year high of $115.50.

Aflac (NYSE:AFL) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. The business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The company’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 earnings per share. Research analysts anticipate that Aflac Incorporated will post 7.22 EPS for the current fiscal year.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Wednesday, November 20th. Aflac’s dividend payout ratio is currently 30.12%.

Analyst Ratings Changes

AFL has been the subject of a number of analyst reports. Bank of America boosted their price target on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup increased their price target on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. TD Cowen started coverage on shares of Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price objective for the company. Morgan Stanley increased their target price on shares of Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. Finally, UBS Group lifted their price target on Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Three 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.93.

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.