Aflac (NYSE:AFL) PT Raised to $83.00

Aflac (NYSE:AFL) had its target price upped by equities research analysts at JPMorgan Chase & Co. from $80.00 to $83.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential downside of 6.74% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley raised their target price on Aflac from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Keefe, Bruyette & Woods lifted their price target on Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Jefferies Financial Group cut their price target on Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research note on Friday. Truist Financial lifted their price objective on Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research report on Friday, May 3rd. Finally, StockNews.com upgraded Aflac from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $83.69.

Aflac Price Performance

Aflac stock traded down $0.06 during midday trading on Tuesday, reaching $89.00. The company’s stock had a trading volume of 159,910 shares, compared to its average volume of 2,230,283. Aflac has a fifty-two week low of $69.00 and a fifty-two week high of $91.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.08 and a current ratio of 0.08. The stock’s 50 day simple moving average is $87.03 and its 200 day simple moving average is $83.82. The firm has a market capitalization of $50.57 billion, a PE ratio of 9.82, a P/E/G ratio of 2.20 and a beta of 0.95.

Aflac (NYSE:AFL) last released its earnings results on Monday, May 6th. The financial services provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The company had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter last year, the company earned $1.55 earnings per share. Aflac’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts forecast that Aflac will post 6.46 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total value of $50,904.00. Following the transaction, the director now owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Aflac news, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the transaction, the director now owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles D. Lake II sold 22,378 shares of Aflac stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total value of $1,957,403.66. Following the transaction, the director now directly owns 61,522 shares in the company, valued at approximately $5,381,329.34. The disclosure for this sale can be found here. 0.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aflac

Institutional investors and hedge funds have recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new stake in shares of Aflac during the 4th quarter valued at about $25,000. Atwood & Palmer Inc. lifted its holdings in shares of Aflac by 80.0% during the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after buying an additional 140 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Aflac during the 1st quarter valued at about $29,000. Bruce G. Allen Investments LLC acquired a new stake in shares of Aflac during the 4th quarter valued at about $32,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Aflac during the 4th quarter valued at about $33,000. 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.