Turtle Creek Wealth Advisors LLC Purchases 3,345 Shares of Aflac Incorporated $AFL

Key Points

• Turtle Creek Wealth Advisors LLC has increased its stake in Aflac Incorporated by 5.5%, acquiring an additional 3,345 shares to bring its total holdings to 63,940 shares, valued at approximately $6.74 million.
• Aflac's board has authorized a stock buyback plan allowing the repurchase of up to 100 million outstanding shares, indicating confidence in the stock's value.
• The company recently declared a quarterly dividend of $0.58 per share, with a dividend yield of 2.1% and a payout ratio of 52.61%.

Turtle Creek Wealth Advisors LLC lifted its position in shares of Aflac Incorporated (NYSE:AFL - Free Report) by 5.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,940 shares of the financial services provider's stock after purchasing an additional 3,345 shares during the period. Turtle Creek Wealth Advisors LLC's holdings in Aflac were worth $6,743,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in AFL. Nuveen LLC acquired a new stake in Aflac during the first quarter worth approximately $140,746,000. Citigroup Inc. grew its position in Aflac by 133.2% during the first quarter. Citigroup Inc. now owns 758,424 shares of the financial services provider's stock worth $84,329,000 after buying an additional 433,134 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Aflac by 10.8% during the first quarter. Goldman Sachs Group Inc. now owns 3,575,054 shares of the financial services provider's stock worth $397,510,000 after buying an additional 349,787 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in Aflac by 26.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,654,802 shares of the financial services provider's stock worth $174,515,000 after buying an additional 343,881 shares in the last quarter. Finally, Aberdeen Group plc grew its position in Aflac by 96.0% during the first quarter. Aberdeen Group plc now owns 407,377 shares of the financial services provider's stock worth $45,056,000 after buying an additional 199,583 shares in the last quarter. Institutional investors own 67.44% of the company's stock.

Aflac Trading Down 1.5%

Shares of AFL stock opened at $109.80 on Thursday. The stock's fifty day moving average price is $108.18 and its two-hundred day moving average price is $105.52. The company has a market cap of $58.73 billion, a PE ratio of 24.90, a P/E/G ratio of 3.09 and a beta of 0.86. Aflac Incorporated has a fifty-two week low of $96.95 and a fifty-two week high of $115.44. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11.

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

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

Aflac Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Wednesday, August 20th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, August 20th. This represents a $2.32 annualized dividend and a dividend yield of 2.1%. Aflac's dividend payout ratio (DPR) is 52.61%.

Insider Buying and Selling at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the sale, the director owned 25,105 shares of the company's stock, valued at $2,575,019.85. This trade represents a 3.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AFL has been the topic of a number of analyst reports. Barclays reissued an "underweight" rating and set a $102.00 price target (up previously from $100.00) on shares of Aflac in a research report on Wednesday, October 8th. Weiss Ratings reissued a "buy (b-)" rating on shares of Aflac in a research report on Wednesday, October 8th. Piper Sandler set a $125.00 price target on Aflac and gave the stock an "overweight" rating in a research report on Tuesday, October 7th. Morgan Stanley increased their price target on Aflac from $108.00 to $113.00 and gave the stock an "equal weight" rating in a research report on Monday, August 18th. Finally, UBS Group reduced their price target on Aflac from $114.00 to $111.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Aflac presently has a consensus rating of "Hold" and a consensus price target of $109.45.

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.

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