Aflac (NYSE:AFL) Given New $107.00 Price Target at Wells Fargo & Company

Aflac (NYSE:AFL) had its price target boosted by Wells Fargo & Company to $107.00 in a research report released on Tuesday,Stock Target Advisor reports. Wells Fargo & Company currently has a hold rating on the financial services provider’s stock.

AFL has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Bank of America increased their price objective on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Truist Financial boosted their target price on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Evercore ISI raised their price target on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, September 26th. Finally, Piper Sandler boosted their price objective on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $97.93.

Aflac Trading Down 4.2 %

Aflac stock opened at $106.76 on Tuesday. Aflac has a 12 month low of $75.07 and a 12 month high of $115.50. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $111.22 and its two-hundred day simple moving average is $101.93. The company has a market capitalization of $59.31 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.13 and a beta of 0.97.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $1.69 by $0.47. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. Aflac’s revenue for the quarter was down 40.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. As a group, equities analysts predict that Aflac will post 7.27 earnings per share for the current fiscal year.

Aflac Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be issued a $0.58 dividend. This is a boost from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 dividend on an annualized basis and a yield of 2.17%. Aflac’s dividend payout ratio (DPR) is currently 30.12%.

Institutional Trading of Aflac

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas bought a new position in shares of Aflac during the 3rd quarter valued at approximately $576,000. Old North State Trust LLC boosted its position in shares of Aflac by 5.9% in the third quarter. Old North State Trust LLC now owns 3,346 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 185 shares during the period. Franklin Resources Inc. increased its stake in shares of Aflac by 75.2% in the third quarter. Franklin Resources Inc. now owns 776,131 shares of the financial services provider’s stock worth $88,533,000 after purchasing an additional 333,083 shares in the last quarter. Tidal Investments LLC raised its position in shares of Aflac by 14.0% during the 3rd quarter. Tidal Investments LLC now owns 64,569 shares of the financial services provider’s stock valued at $7,219,000 after purchasing an additional 7,918 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Aflac by 5.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 158,424 shares of the financial services provider’s stock valued at $17,712,000 after buying an additional 8,274 shares in the last quarter. Hedge funds and other institutional investors own 67.44% of the company’s stock.

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.