Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Aflac Incorporated (NYSE:AFL)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Aflac Incorporated (NYSE:AFL) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 553,676 shares of the financial services provider’s stock after selling 15,282 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Aflac were worth $61,901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in AFL. Y.D. More Investments Ltd bought a new position in Aflac during the second quarter valued at approximately $25,000. Darwin Wealth Management LLC purchased a new stake in shares of Aflac during the 3rd quarter worth approximately $34,000. Covestor Ltd boosted its position in shares of 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 bought a new stake in Aflac in the third quarter worth $45,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Aflac during the third quarter valued at $51,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Stock Performance

Shares of NYSE:AFL opened at $114.10 on Thursday. The firm’s 50 day simple moving average is $110.99 and its 200-day simple moving average is $101.14. 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 one year low of $75.07 and a one year high of $115.50. The firm has a market cap of $63.39 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the business posted $1.84 EPS. Aflac’s quarterly revenue was down 40.4% on a year-over-year basis. As a group, equities analysts predict that Aflac Incorporated will post 7.22 EPS for the current year.

Aflac Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 annualized dividend and a dividend yield of 1.75%. Aflac’s payout ratio is currently 30.12%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AFL. Barclays initiated coverage on shares of Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 target price on the stock. TD Cowen initiated coverage on Aflac in a research note on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective on the stock. Evercore ISI raised their price objective on Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, September 26th. Morgan Stanley boosted their target price on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, Piper Sandler raised their price target on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Aflac currently has an average rating of “Hold” and a consensus target price of $97.93.

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.