Aflac (NYSE:AFL) PT Raised to $115.00

Aflac (NYSE:AFL) had its target price hoisted by analysts at Bank of America from $108.00 to $115.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target indicates a potential upside of 4.82% from the stock’s previous close.

Several other research firms have also recently weighed in on AFL. Wells Fargo & Company boosted their price objective on shares of Aflac from $81.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Jefferies Financial Group dropped their target price on Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Truist Financial raised their price target on Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. boosted their price objective on Aflac from $80.00 to $83.00 and gave the stock a “neutral” rating in a report on Tuesday, July 2nd. Finally, UBS Group raised their target price on shares of Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $92.50.

Aflac Price Performance

Shares of AFL stock opened at $109.71 on Wednesday. The stock’s fifty day simple moving average is $98.73 and its 200 day simple moving average is $89.68. Aflac has a one year low of $73.62 and a one year high of $111.14. The firm has a market cap of $62.34 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 2.61 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.10.

Aflac (NYSE:AFL) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.23. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. On average, analysts expect that Aflac will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the completion of the sale, the director now directly owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Aflac

A number of large investors have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd bought a new position in Aflac in the 2nd quarter valued at about $25,000. Atwood & Palmer Inc. increased its stake in Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 140 shares during the last quarter. OFI Invest Asset Management acquired a new position in Aflac during the first quarter valued at approximately $29,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Aflac during the first quarter worth $34,000. Finally, Sachetta LLC acquired a new stake in shares of Aflac in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 67.44% of the company’s stock.

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.