Convergence Financial LLC Sells 1,884 Shares of Aflac Incorporated (NYSE:AFL)

Convergence Financial LLC cut its position in Aflac Incorporated (NYSE:AFL) by 21.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,955 shares of the financial services provider’s stock after selling 1,884 shares during the quarter. Convergence Financial LLC’s holdings in Aflac were worth $778,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AFL. Y.D. More Investments Ltd bought a new stake in shares of Aflac in the second quarter valued at about $25,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Aflac in the first quarter valued at about $34,000. Cedar Wealth Management LLC bought a new stake in shares of Aflac in the first quarter valued at about $50,000. Fairscale Capital LLC bought a new stake in shares of Aflac in the second quarter valued at about $54,000. Finally, HHM Wealth Advisors LLC boosted its position in shares of Aflac by 178.6% in the second quarter. HHM Wealth Advisors LLC now owns 624 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 400 shares during the period. 67.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on AFL shares. UBS Group boosted 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. Jefferies Financial Group dropped their price target on Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research note on Friday, June 28th. Barclays started coverage on Aflac in a research note on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target for the company. TD Cowen started coverage on Aflac in a research note on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price target for the company. Finally, Evercore ISI boosted their price target on Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $97.53.

Aflac Stock Down 2.1 %

Shares of NYSE AFL opened at $109.69 on Friday. Aflac Incorporated has a 52 week low of $75.07 and a 52 week high of $115.50. The business has a 50-day simple moving average of $110.22 and a two-hundred day simple moving average of $96.59. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The company has a market cap of $62.33 billion, a P/E ratio of 12.11, a P/E/G ratio of 2.62 and a beta of 0.95.

Aflac (NYSE:AFL) last issued its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 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 during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter last year, the company earned $1.58 EPS. The firm’s revenue was down .7% compared to the same quarter last year. Research analysts anticipate that Aflac Incorporated will post 6.76 earnings per share for the current fiscal year.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were paid a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $2.00 annualized dividend and a yield of 1.82%. Aflac’s dividend payout ratio is currently 22.08%.

Insiders Place Their Bets

In related news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now directly owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.90% of the stock is owned by corporate insiders.

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.