AFLAC (NYSE:AFL) Given New $45.00 Price Target at Morgan Stanley

AFLAC (NYSE:AFL) had its price target boosted by Morgan Stanley from $42.00 to $45.00 in a report issued on Wednesday, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the stock. ValuEngine raised shares of AFLAC from a strong sell rating to a sell rating in a research note on Wednesday, May 6th. Credit Suisse Group cut their price target on shares of AFLAC from $45.00 to $35.00 and set a neutral rating on the stock in a report on Monday, April 27th. Raymond James decreased their price objective on shares of AFLAC from $60.00 to $50.00 and set an outperform rating for the company in a research note on Friday, April 17th. Zacks Investment Research lowered AFLAC from a buy rating to a hold rating and set a $37.00 target price for the company. in a research report on Tuesday, April 7th. Finally, Piper Sandler reduced their price target on AFLAC from $47.00 to $45.00 and set an overweight rating on the stock in a report on Friday, April 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. AFLAC has an average rating of Hold and a consensus target price of $44.20.

Shares of AFL stock opened at $35.57 on Wednesday. The company has a market cap of $25.52 billion, a PE ratio of 8.89, a price-to-earnings-growth ratio of 1.61 and a beta of 0.89. AFLAC has a 1 year low of $23.07 and a 1 year high of $55.07. The stock’s 50 day simple moving average is $35.96 and its two-hundred day simple moving average is $39.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.07 and a quick ratio of 0.05.

AFLAC (NYSE:AFL) last released its earnings results on Tuesday, July 28th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.23. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.49 billion. AFLAC had a return on equity of 11.98% and a net margin of 13.50%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. Equities research analysts expect that AFLAC will post 4.47 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Tuesday, August 18th. AFLAC’s dividend payout ratio is presently 25.23%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Equitable Holdings Inc. purchased a new stake in shares of AFLAC in the 4th quarter worth $207,000. Wealth Quarterback LLC purchased a new stake in AFLAC in the fourth quarter worth about $48,000. Macquarie Group Ltd. lifted its stake in AFLAC by 52.4% in the fourth quarter. Macquarie Group Ltd. now owns 42,399 shares of the financial services provider’s stock worth $2,242,000 after acquiring an additional 14,573 shares during the period. Norges Bank bought a new position in AFLAC during the 4th quarter worth about $350,139,000. Finally, RNC Capital Management LLC purchased a new position in AFLAC during the 4th quarter valued at about $462,000. Hedge funds and other institutional investors own 67.27% of the company’s stock.

AFLAC Company Profile

Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.

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Analyst Recommendations for AFLAC (NYSE:AFL)

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