Aflac (NYSE:AFL) PT Raised to $108.00 at Bank of America

Aflac (NYSE:AFL) had its price objective upped by Bank of America from $105.00 to $108.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a buy rating on the financial services provider’s stock.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their target price on Aflac from $80.00 to $83.00 and gave the stock a neutral rating in a research report on Tuesday, July 2nd. StockNews.com upgraded Aflac from a sell rating to a hold rating in a report on Friday, May 3rd. Citigroup raised their target price on Aflac from $84.00 to $93.00 and gave the company a neutral rating in a report on Tuesday, July 23rd. Piper Sandler raised their price objective on Aflac from $95.00 to $100.00 and gave the company an overweight rating in a research note on Friday, June 28th. Finally, Jefferies Financial Group lowered their price objective on Aflac from $84.00 to $83.00 and set a hold rating for the company in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of Hold and an average price target of $88.08.

Aflac Price Performance

Aflac stock opened at $99.24 on Thursday. The business has a 50 day simple moving average of $90.78 and a 200-day simple moving average of $85.74. Aflac has a 12 month low of $72.78 and a 12 month high of $104.90. The stock has a market capitalization of $56.39 billion, a PE ratio of 10.95, a price-to-earnings-growth ratio of 2.76 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 0.08.

Aflac (NYSE:AFL) last posted its quarterly earnings data 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. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter last year, the company earned $1.58 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. Equities analysts predict that Aflac will post 6.48 earnings per share for the current year.

Aflac Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 2nd. Investors of record on Wednesday, August 21st will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, August 21st. This represents a $2.00 annualized dividend and a yield of 2.02%. Aflac’s dividend payout ratio is 22.08%.

Insider Activity at Aflac

In related news, Director Joseph L. Moskowitz sold 600 shares of the business’s 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 directly owns 27,550 shares in the company, valued at $2,337,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Aflac news, Director Charles D. Lake II sold 22,378 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total value of $1,957,403.66. Following the completion of the transaction, the director now directly owns 61,522 shares of the company’s stock, valued at $5,381,329.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph L. Moskowitz sold 600 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total value of $50,904.00. Following the completion of the transaction, the director now owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Aflac

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its position in Aflac by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,190,954 shares of the financial services provider’s stock worth $263,254,000 after purchasing an additional 17,892 shares during the period. Norges Bank bought a new stake in Aflac during the fourth quarter valued at $197,820,000. Nordea Investment Management AB grew its stake in Aflac by 6.7% during the first quarter. Nordea Investment Management AB now owns 1,806,475 shares of the financial services provider’s stock worth $155,140,000 after purchasing an additional 113,226 shares during the period. Assetmark Inc. lifted its position in shares of Aflac by 4.2% during the 4th quarter. Assetmark Inc. now owns 1,577,319 shares of the financial services provider’s stock valued at $130,129,000 after acquiring an additional 64,202 shares during the period. Finally, National Pension Service boosted its position in shares of Aflac by 3.2% during the 4th quarter. National Pension Service now owns 1,483,726 shares of the financial services provider’s stock worth $122,407,000 after purchasing an additional 46,642 shares in the last quarter. Institutional investors 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.