Chevy Chase Trust Holdings LLC Trims Stock Position in Aflac Incorporated (NYSE:AFL)

Chevy Chase Trust Holdings LLC cut its stake in shares of Aflac Incorporated (NYSE:AFL) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 284,901 shares of the financial services provider’s stock after selling 8,369 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Aflac worth $29,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Darwin Wealth Management LLC purchased a new stake in Aflac during the 3rd quarter valued at approximately $34,000. Raelipskie Partnership purchased a new stake in Aflac during the 3rd quarter valued at approximately $38,000. Covestor Ltd raised its stake in 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 acquiring an additional 107 shares during the last quarter. Kennebec Savings Bank purchased a new position in shares of Aflac during the 3rd quarter worth approximately $45,000. Finally, Catalyst Capital Advisors LLC purchased a new position in shares of Aflac during the 3rd quarter worth approximately $51,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Aflac

In other news, EVP Audrey B. Tillman sold 24,744 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the sale, the executive vice president now owns 222,618 shares in the company, valued at $23,018,701.20. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.90% of the company’s stock.

Aflac Price Performance

Shares of NYSE:AFL opened at $103.46 on Friday. The business’s fifty day moving average price is $104.26 and its two-hundred day moving average price is $107.02. The stock has a market cap of $57.48 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 2.10 and a beta of 0.99. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.08 and a current ratio of 0.10. Aflac Incorporated has a one year low of $78.38 and a one year high of $115.50.

Aflac (NYSE:AFL) last announced its earnings results on Wednesday, February 5th. The financial services provider reported $1.56 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Aflac had a net margin of 28.76% and a return on equity of 16.20%. On average, analysts forecast that Aflac Incorporated will post 6.95 EPS for the current fiscal year.

Aflac Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be issued a dividend of $0.58 per share. This is a boost from Aflac’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Wednesday, February 19th. This represents a $2.32 annualized dividend and a dividend yield of 2.24%. Aflac’s dividend payout ratio (DPR) is 24.17%.

Wall Street Analysts Forecast Growth

AFL has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on Aflac from $90.00 to $94.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods cut their target price on Aflac from $107.00 to $104.00 and set a “market perform” rating for the company in a research note on Wednesday. BMO Capital Markets initiated coverage on Aflac in a research note on Thursday, January 23rd. They set a “market perform” rating and a $111.00 target price for the company. Piper Sandler cut their target price on Aflac from $122.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, February 7th. Finally, StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Aflac currently has an average rating of “Hold” and an average target price of $103.00.

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.