Harbour Investments Inc. Buys 346 Shares of Aflac Incorporated $AFL

Harbour Investments Inc. raised its stake in Aflac Incorporated (NYSE:AFL) by 5.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,846 shares of the financial services provider’s stock after purchasing an additional 346 shares during the period. Harbour Investments Inc.’s holdings in Aflac were worth $722,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AlphaCore Capital LLC acquired a new position in shares of Aflac in the 1st quarter valued at $28,000. Hilltop National Bank acquired a new position in shares of Aflac in the 2nd quarter valued at $32,000. Golden State Wealth Management LLC raised its stake in shares of Aflac by 121.9% in the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider’s stock valued at $34,000 after buying an additional 167 shares in the last quarter. Groupe la Francaise acquired a new position in shares of Aflac in the 1st quarter valued at $34,000. Finally, Garde Capital Inc. acquired a new position in shares of Aflac in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

Insider Activity

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $102.57, for a total transaction of $102,570.00. Following the transaction, the director directly owned 25,105 shares in the company, valued at approximately $2,575,019.85. This represents a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.80% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AFL. Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods increased their price objective on shares of Aflac from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Aflac from $96.00 to $100.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 8th. Piper Sandler set a $125.00 target price on shares of Aflac and gave the stock an “overweight” rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Aflac in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $109.45.

Aflac Stock Up 1.0%

Shares of NYSE:AFL opened at $107.82 on Monday. Aflac Incorporated has a 12 month low of $96.95 and a 12 month high of $115.44. The company’s 50-day moving average price is $108.36 and its two-hundred day moving average price is $105.37. The firm has a market cap of $57.66 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.99 and a beta of 0.86. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33.

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

Aflac declared that its Board of Directors has initiated a share buyback program on Tuesday, August 12th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Wednesday, August 20th. Aflac’s dividend payout ratio is presently 52.61%.

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.