5 Dividend Aristocrats Under $60 You Can Buy in September

1. Aflac Incorporated (NYSE:AFL)

Share Price as of September 5: $59.6
Dividend Yield as of September 5: 2.69%

Aflac Incorporated (NYSE:AFL) is a Georgia-based insurance company that deals in supplemental insurance in the US. In July, JPMorgan mentioned the stock in its investors’ note, calling the company a major beneficiary of higher interest rates. The firm lifted its price target on the stock to $62 and maintained a Neutral rating on the shares.

In Q2 2022, Aflac Incorporated (NYSE:AFL) posted revenue of $5.4 billion and its net income came in at $1.4 billion. At the end of June 2022, the company’s total cash and investments stood at $121.4 billion and its total assets amounted to $135.6 billion, showing its strong cash position.

On August 1, Aflac Incorporated (NYSE:AFL) declared a quarterly dividend of $0.40 per share, in line with its previous dividend. The company maintains a 39-year track record of consistent dividend growth and expects to extend it due to its stable capital and cash flows.

At the end of Q2 2022, 32 hedge funds tracked by Insider Monkey owned investments in Aflac Incorporated (NYSE:AFL), the same as in the previous quarter. The collective value of these stakes is over $340.6 million, compared with $377.6 million worth of stakes owned by hedge funds in the preceding quarter.

You can also take a look at 10 Large-Cap Dividend Stocks with Over 5% Yield and 10 Small-Cap Stocks that Pay Dividends

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