Mattern Wealth Management LLC Sells 1,180 Shares of Aflac Incorporated (NYSE:AFL)

Mattern Wealth Management LLC trimmed its holdings in shares of Aflac Incorporated (NYSE:AFL) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,923 shares of the financial services provider’s stock after selling 1,180 shares during the period. Mattern Wealth Management LLC’s holdings in Aflac were worth $1,026,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Darwin Wealth Management LLC bought a new position in Aflac during the 3rd quarter worth approximately $34,000. Raelipskie Partnership bought a new position in shares of Aflac during the third quarter worth about $38,000. Covestor Ltd boosted its position in Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 107 shares during the last quarter. Kennebec Savings Bank acquired a new stake in shares of Aflac in the third quarter valued at approximately $45,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Aflac in the third quarter worth $51,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Aflac

In other Aflac news, EVP Audrey B. Tillman sold 24,744 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 222,618 shares in the company, valued at approximately $23,018,701.20. The trade was a 10.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

AFL has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Aflac from $103.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 14th. Barclays raised their price objective on Aflac from $96.00 to $98.00 and gave the company an “underweight” rating in a research report on Monday, January 6th. TD Cowen began coverage on Aflac in a report on Wednesday, October 9th. They set a “hold” rating and a $102.00 target price on the stock. Bank of America lifted their price objective on shares of Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Sandler upped their price objective on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $102.67.

Aflac Stock Performance

NYSE AFL opened at $108.14 on Tuesday. The firm’s fifty day moving average price is $105.88 and its two-hundred day moving average price is $106.04. The stock has a market cap of $60.08 billion, a PE ratio of 16.29, a PEG ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. Aflac Incorporated has a fifty-two week low of $75.07 and a fifty-two week high of $115.50.

Aflac (NYSE:AFL) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (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 the consensus estimate 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 firm earned $1.84 earnings per share. On average, equities analysts expect that Aflac Incorporated will post 7.26 EPS for the current fiscal year.

Aflac Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Shareholders of record on Wednesday, February 19th will be paid a $0.58 dividend. This is an increase from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 annualized dividend and a yield of 2.15%. The ex-dividend date is Wednesday, February 19th. Aflac’s payout ratio is 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.