Swedbank AB has decreased its investment in Aflac Incorporated (NYSE:AFL) by 3.5% during the third quarter of 2023. According to its recent Form 13F filing with the Securities and Exchange Commission, Swedbank now holds 288,214 shares of the financial services provider, having sold 10,538 shares in the quarter. At the conclusion of this period, Swedbank’s holdings in Aflac were valued at approximately $32.19 million.
This adjustment in Swedbank’s portfolio is part of a broader trend among institutional investors. Several hedge funds have recently modified their positions in Aflac. For instance, Mid American Wealth Advisory Group Inc. initiated a new stake valued at about $26,000 during the second quarter. Similarly, Chilton Capital Management LLC also acquired a new position worth approximately $26,000.
Whipplewood Advisors LLC significantly increased its holdings in Aflac by an impressive 1,526.7%, acquiring 244 shares worth $26,000 after purchasing an additional 229 shares. Hilltop National Bank and Darwin Wealth Management LLC also made new investments in Aflac, with stakes valued at around $32,000 and $33,000, respectively. Overall, institutional and hedge fund investors control 67.44% of Aflac’s stock.
Analyst Insights on Aflac’s Performance
Market analysts have recently provided updated price targets for Aflac. Notably, Morgan Stanley set a target of $120.00 in a report released on December 15, 2023. Keefe, Bruyette & Woods raised their target from $108.00 to $110.00, maintaining a “market perform” rating. Piper Sandler also issued a target of $125.00 with an “overweight” rating.
The consensus among analysts is mixed, with three recommending a Buy rating, eight suggesting Hold, and three advising Sell. According to data from MarketBeat.com, Aflac currently holds an average rating of “Hold” with a consensus price target of $109.83.
Aflac’s Stock Performance and Earnings Report
As of the latest trading session on Friday, Aflac shares opened at $110.62. The company has experienced a 12-month low of $96.95 and a high of $115.83. Aflac’s 50-day moving average is $109.95, while the 200-day moving average stands at $107.03.
Aflac’s financial health appears solid, with a market capitalization of $57.98 billion, a price-to-earnings ratio of 14.44, and a debt-to-equity ratio of 0.30. In its most recent earnings report on February 27, 2024, Aflac disclosed earnings per share of $1.07 and reported a net margin of 23.55% along with a return on equity of 14.97%. The company generated revenue of $5.91 billion during the quarter, with analysts forecasting an EPS of 6.88 for the current fiscal year.
In addition to its financial updates, Aflac has announced an increase in its quarterly dividend. Shareholders will receive a dividend of $0.61 on March 2, 2024, with a record date set for February 18, 2024. This marks an increase from the previous dividend of $0.58, representing an annualized dividend of $2.44 and a yield of 2.2%. Aflac’s dividend payout ratio currently stands at 30.29%.
Aflac Incorporated, headquartered in Columbus, Georgia, specializes in supplemental insurance products designed to assist policyholders in managing out-of-pocket healthcare and living expenses. With a diverse range of individual and group policies, Aflac provides cash benefits directly to insured individuals, supporting financial flexibility for medical treatment, hospital stays, and critical illnesses. The company distributes its products through various channels, including employer-sponsored programs and independent brokers.
For those interested in the latest updates regarding Aflac and its stakeholders, visit HoldingsChannel.com for detailed 13F filings and insider transactions.
