Atria Wealth Solutions Inc. Sells 2,882 Shares of Aflac Incorporated $AFL

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Aflac Incorporated by 26.6%, selling 2,882 shares and now holding 7,936 shares valued at approximately $835,000.
• Aflac has implemented a share buyback plan authorizing the repurchase of up to 100 million shares, indicating confidence in the stock's value.
• The company recently declared a quarterly dividend of $0.58 per share, reflecting an annualized payout of $2.32 and a yield of 2.2%.

Atria Wealth Solutions Inc. cut its stake in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 26.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,936 shares of the financial services provider's stock after selling 2,882 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Aflac were worth $835,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaCore Capital LLC bought a new position in shares of Aflac during the first quarter valued at $28,000. Hilltop National Bank bought a new position in shares of Aflac during the second quarter valued at $32,000. Golden State Wealth Management LLC increased its holdings in Aflac by 121.9% in the 1st quarter. Golden State Wealth Management LLC now owns 304 shares of the financial services provider's stock worth $34,000 after buying an additional 167 shares in the last quarter. Groupe la Francaise bought a new stake in Aflac in the 1st quarter worth about $34,000. Finally, Garde Capital Inc. bought a new stake in Aflac in the 1st quarter worth about $36,000. 67.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Aflac

In other news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the transaction, the director directly owned 25,105 shares of the company's stock, valued at $2,575,019.85. The trade was a 3.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is currently owned by insiders.

Aflac Trading Up 1.0%

Aflac stock opened at $107.82 on Friday. The business has a 50-day simple moving average of $108.36 and a two-hundred day simple moving average of $105.41. The company has a market cap of $57.66 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.99 and a beta of 0.86. Aflac Incorporated has a 52-week low of $96.95 and a 52-week high of $115.44. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33.

Aflac (NYSE:AFL - Get Free Report) last released its quarterly earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. The business had revenue of $5.91 billion during the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. Analysts predict that Aflac Incorporated will post 6.88 EPS for the current year.

Aflac declared that its board has authorized a share buyback plan on Tuesday, August 12th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Wednesday, August 20th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Wednesday, August 20th. Aflac's payout ratio is presently 52.61%.

Analysts Set New Price Targets

AFL has been the subject of several research analyst reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Aflac in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on Aflac from $105.00 to $107.00 and gave the stock an "equal weight" rating in a report on Monday, August 11th. Piper Sandler set a $125.00 price objective on Aflac and gave the stock an "overweight" rating in a report on Tuesday, October 7th. Evercore ISI set a $110.00 price objective on Aflac and gave the stock an "underperform" rating in a report on Thursday, October 9th. Finally, Wall Street Zen upgraded Aflac from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $109.45.

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.

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