Aflac (NYSE:AFL) had its target price raised by investment analysts at Morgan Stanley from $61.00 to $63.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 16.75% from the stock’s current price.
Several other brokerages also recently weighed in on AFL. boosted their price objective on Aflac from $46.00 to $47.00 and gave the company a “sell” rating in a research report on Monday, June 21st. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a research report on Friday, June 18th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $52.00.
NYSE AFL opened at $53.96 on Thursday. The stock has a market capitalization of $36.19 billion, a price-to-earnings ratio of 6.52, a PEG ratio of 1.96 and a beta of 1.01. Aflac has a one year low of $33.37 and a one year high of $57.64. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.06 and a quick ratio of 0.06. The business’s fifty day moving average is $54.97 and its 200-day moving average is $54.48.
In other Aflac news, Director Karole Lloyd acquired 1,000 shares of the company’s stock in a transaction that occurred on Friday, July 30th. The stock was bought at an average price of $55.21 per share, for a total transaction of $55,210.00. Following the acquisition, the director now directly owns 37,035 shares in the company, valued at $2,044,702.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric M. Kirsch sold 34,778 shares of the business’s stock in a transaction on Monday, August 23rd. The shares were sold at an average price of $57.02, for a total value of $1,983,041.56. The disclosure for this sale can be found here. Insiders sold 36,978 shares of company stock worth $2,108,556 in the last ninety days. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of AFL. BlackRock Inc. raised its position in Aflac by 5.6% during the 2nd quarter. BlackRock Inc. now owns 47,236,620 shares of the financial services provider’s stock valued at $2,534,717,000 after purchasing an additional 2,524,018 shares in the last quarter. FMR LLC increased its position in Aflac by 23.2% during the 2nd quarter. FMR LLC now owns 13,078,141 shares of the financial services provider’s stock valued at $701,774,000 after buying an additional 2,466,836 shares in the last quarter. Geode Capital Management LLC grew its stake in Aflac by 16.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,004,727 shares of the financial services provider’s stock valued at $642,491,000 after purchasing an additional 1,685,100 shares during the last quarter. Amundi purchased a new stake in Aflac during the 2nd quarter valued at about $73,106,000. Finally, Assetmark Inc. grew its stake in Aflac by 187.2% during the 2nd quarter. Assetmark Inc. now owns 1,970,605 shares of the financial services provider’s stock valued at $105,743,000 after purchasing an additional 1,284,483 shares during the last quarter. 66.29% of the stock is owned by institutional investors and hedge funds.
Aflac Company Profile
Aflac, Inc is a holding company, which engages in the provision financial protection services. It operates through the Aflac Japan and Aflac United States (U.S.) segments. The Aflac Japan segment offers life insurance, death benefits, and cash surrender values. The Aflac U.S. segment sells voluntary supplemental insurance products for people who already have major medical or primary insurance coverage.
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