Aflac (NYSE:AFL) PT Raised to $90.00 at Evercore ISI

Aflac (NYSE:AFL) had its price target hoisted by Evercore ISI from $84.00 to $90.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Evercore ISI’s target price would suggest a potential downside of 18.62% from the company’s current price.

AFL has been the subject of several other research reports. Wells Fargo & Company raised their price objective on shares of Aflac from $81.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, August 12th. Bank of America lifted their price target on shares of Aflac from $108.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Piper Sandler lifted their price target on shares of Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. lifted their price target on shares of Aflac from $80.00 to $83.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 2nd. Finally, Citigroup lifted their price target on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $93.36.

Aflac Trading Up 0.5 %

Shares of Aflac stock opened at $110.59 on Thursday. The stock has a market capitalization of $62.84 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The company has a 50-day simple moving average of $104.15 and a 200 day simple moving average of $92.65. Aflac has a 12-month low of $74.89 and a 12-month high of $111.14.

Aflac (NYSE:AFL) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.23. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.58 EPS. Research analysts expect that Aflac will post 6.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now directly owns 18,158 shares in the company, valued at $1,796,552.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Aflac

Several institutional investors and hedge funds have recently modified their holdings of the stock. Centaurus Financial Inc. increased its holdings in shares of Aflac by 6.5% in the second quarter. Centaurus Financial Inc. now owns 19,330 shares of the financial services provider’s stock valued at $1,726,000 after purchasing an additional 1,181 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Aflac by 8.2% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 105,000 shares of the financial services provider’s stock valued at $9,378,000 after acquiring an additional 8,000 shares during the period. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group boosted its position in shares of Aflac by 5.3% in the second quarter. Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group now owns 15,663 shares of the financial services provider’s stock valued at $1,399,000 after acquiring an additional 782 shares during the period. Brightwater Advisory LLC bought a new stake in shares of Aflac in the second quarter valued at about $3,015,000. Finally, Heritage Wealth Management Inc. bought a new stake in shares of Aflac in the second quarter valued at about $552,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

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.