The Manufacturers Life Insurance Company Has $34.11 Million Holdings in Aflac Incorporated (NYSE:AFL)

The Manufacturers Life Insurance Company trimmed its position in shares of Aflac Incorporated (NYSE:AFL) by 4.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 305,082 shares of the financial services provider’s stock after selling 12,646 shares during the period. The Manufacturers Life Insurance Company’s holdings in Aflac were worth $34,108,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Aflac by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 4,807,079 shares of the financial services provider’s stock worth $429,319,000 after buying an additional 285,576 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Aflac by 1.3% during the 2nd quarter. APG Asset Management N.V. now owns 2,429,316 shares of the financial services provider’s stock valued at $202,437,000 after acquiring an additional 31,752 shares during the last quarter. Guinness Asset Management LTD increased its holdings in shares of Aflac by 3.8% during the 3rd quarter. Guinness Asset Management LTD now owns 2,276,325 shares of the financial services provider’s stock valued at $254,382,000 after acquiring an additional 83,289 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Aflac by 5.6% in the 2nd quarter. ProShare Advisors LLC now owns 2,220,125 shares of the financial services provider’s stock valued at $198,279,000 after acquiring an additional 117,504 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in Aflac by 26.6% in the 2nd quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock worth $172,338,000 after purchasing an additional 405,847 shares during the last quarter. Institutional investors own 67.44% of the company’s stock.

Aflac Trading Down 0.1 %

Shares of AFL stock opened at $114.02 on Friday. The firm has a fifty day moving average of $111.23 and a 200-day moving average of $101.43. The stock has a market cap of $63.34 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 2.18 and a beta of 0.96. Aflac Incorporated has a 52-week low of $75.07 and a 52-week high of $115.50. 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 (NYSE:AFL) last posted its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.47. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The company’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 earnings per share. On average, equities research analysts forecast that Aflac Incorporated will post 7.27 earnings per share for the current fiscal year.

Aflac Announces Dividend

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

Wall Street Analysts Forecast Growth

AFL has been the topic of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, September 26th. UBS Group boosted their target price on shares of Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Piper Sandler raised their price target on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Aflac from $106.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Barclays assumed coverage on Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Aflac currently has an average rating of “Hold” and a consensus target price of $97.93.

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.