Alpha Omega Wealth Management LLC Acquires Shares of 1,977 Aflac Incorporated (NYSE:AFL)

Alpha Omega Wealth Management LLC acquired a new stake in shares of Aflac Incorporated (NYSE:AFL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,977 shares of the financial services provider’s stock, valued at approximately $221,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Y.D. More Investments Ltd purchased a new stake in Aflac during the 2nd quarter valued at approximately $25,000. Atwood & Palmer Inc. raised its stake in shares of Aflac by 80.0% during the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after buying an additional 140 shares in the last quarter. OFI Invest Asset Management purchased a new position in shares of Aflac during the 1st quarter worth approximately $29,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Aflac during the 1st quarter worth approximately $34,000. Finally, Fairscale Capital LLC purchased a new position in shares of Aflac during the 2nd quarter worth approximately $54,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Price Performance

NYSE:AFL traded up $1.73 during trading hours on Friday, reaching $115.26. 1,717,703 shares of the company traded hands, compared to its average volume of 2,255,626. The firm’s 50-day moving average is $106.42 and its 200-day moving average is $93.88. The stock has a market cap of $65.49 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.60 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.10. Aflac Incorporated has a 1-year low of $75.07 and a 1-year high of $115.50.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.23. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The business’s revenue was down .7% on a year-over-year basis. Equities research analysts expect that Aflac Incorporated will post 6.75 earnings per share for the current fiscal year.

Aflac Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 2nd. Stockholders of record on Wednesday, August 21st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, August 21st. Aflac’s dividend payout ratio (DPR) is 22.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. UBS Group increased their target price on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Citigroup upped their price target on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Truist Financial upped their price target on Aflac from $82.00 to $100.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Finally, Piper Sandler upped their price target on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Aflac has an average rating of “Hold” and a consensus target price of $95.43.

Insider Transactions at Aflac

In other news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the sale, the director now owns 18,158 shares in the company, valued at $1,796,552.52. This trade represents a 0.00 % 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 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.