Aflac Incorporated (NYSE:AFL) has been assigned an average recommendation of “Hold” from the fifteen brokerages that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $77.28.
Several research analysts have recently weighed in on AFL shares. Barclays PLC boosted their price target on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, July 3rd. Bank of America Corporation upgraded Aflac from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $75.00 to $78.00 in a research note on Tuesday, July 4th. Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Royal Bank Of Canada restated a “sell” rating and issued a $66.00 price target on shares of Aflac in a research note on Wednesday, July 12th. Finally, FBR & Co restated a “market perform” rating and issued a $80.00 price target (up previously from $68.00) on shares of Aflac in a research note on Wednesday, July 12th.
Shares of Aflac (NYSE AFL) traded down 0.50% during midday trading on Thursday, hitting $83.76. The stock had a trading volume of 906,833 shares. The stock has a market cap of $33.10 billion, a PE ratio of 12.66 and a beta of 0.96. The stock’s 50-day moving average is $82.63 and its 200-day moving average is $78.12. Aflac has a 12 month low of $66.50 and a 12 month high of $84.68.
Aflac (NYSE:AFL) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.20. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the previous year, the business earned $1.65 earnings per share. The company’s revenue was down .2% on a year-over-year basis. Equities analysts anticipate that Aflac will post $6.69 EPS for the current year.
Aflac declared that its board has authorized a share repurchase program on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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In other news, Director Douglas Wayne Johnson sold 1,500 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total value of $125,370.00. Following the completion of the transaction, the director now owns 13,733 shares of the company’s stock, valued at $1,147,804.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $81.06, for a total value of $283,710.00. Following the completion of the transaction, the president now directly owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,899 shares of company stock valued at $2,662,483. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank boosted its stake in shares of Aflac by 2.8% in the second quarter. Toronto Dominion Bank now owns 135,593 shares of the financial services provider’s stock worth $10,531,000 after acquiring an additional 3,666 shares during the period. Cookson Peirce & Co. Inc. boosted its stake in Aflac by 3.0% during the second quarter. Cookson Peirce & Co. Inc. now owns 8,915 shares of the financial services provider’s stock valued at $693,000 after buying an additional 260 shares during the last quarter. Cetera Investment Advisers bought a new position in Aflac during the second quarter valued at approximately $609,000. Advisory Services Network LLC boosted its stake in Aflac by 1.0% during the second quarter. Advisory Services Network LLC now owns 4,915 shares of the financial services provider’s stock valued at $382,000 after buying an additional 49 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Aflac during the second quarter valued at approximately $358,000. 65.60% of the stock is owned by hedge funds and other institutional investors.
Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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