Wells Fargo & Company set a $82.00 price objective on Aflac Incorporated (NYSE:AFL) in a research report sent to investors on Wednesday, October 25th. The brokerage currently has a hold rating on the financial services provider’s stock.
A number of other research analysts also recently issued reports on the company. Goldman Sachs Group, Inc. (The) assumed coverage on Aflac in a research note on Wednesday, October 18th. They set a neutral rating and a $88.00 price target on the stock. Royal Bank of Canada restated a sell rating and set a $71.00 price target on shares of Aflac in a research note on Tuesday, October 10th. Citigroup Inc. downgraded Aflac from a neutral rating to a sell rating and dropped their price target for the stock from $82.00 to $77.00 in a research note on Tuesday, September 26th. Zacks Investment Research downgraded Aflac from a buy rating to a hold rating in a research note on Monday, September 25th. Finally, Bank of America Corporation downgraded Aflac from a neutral rating to an underperform rating in a research note on Friday, September 8th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. Aflac presently has an average rating of Hold and a consensus price target of $79.63.
Shares of Aflac (NYSE:AFL) traded down $0.64 during midday trading on Wednesday, hitting $83.44. The stock had a trading volume of 1,181,700 shares, compared to its average volume of 1,794,537. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.24. Aflac has a 1-year low of $66.50 and a 1-year high of $85.70. The firm has a market cap of $33,056.02, a price-to-earnings ratio of 12.48, a PEG ratio of 2.49 and a beta of 1.00.
Aflac (NYSE:AFL) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.07. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.48 billion. Aflac had a return on equity of 12.87% and a net margin of 12.49%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.74 EPS. sell-side analysts forecast that Aflac will post 6.76 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Tuesday, November 14th. This is a boost from Aflac’s previous quarterly dividend of $0.43. This represents a $1.80 annualized dividend and a yield of 2.16%. Aflac’s payout ratio is currently 24.93%.
Aflac declared that its Board of Directors has initiated a stock repurchase program on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
In related news, Director Douglas Wayne Johnson sold 1,500 shares of Aflac stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total transaction of $125,370.00. Following the completion of the transaction, the director now directly owns 13,733 shares of the company’s stock, valued at $1,147,804.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Elizabeth J. Hudson sold 1,279 shares of Aflac stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $83.76, for a total value of $107,129.04. Following the transaction, the director now directly owns 11,075 shares of the company’s stock, valued at $927,642. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,709 shares of company stock valued at $2,404,680. 3.00% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zeke Capital Advisors LLC raised its holdings in shares of Aflac by 183.9% in the third quarter. Zeke Capital Advisors LLC now owns 7,459 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 4,832 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Aflac by 1.8% in the third quarter. Amalgamated Bank now owns 44,688 shares of the financial services provider’s stock worth $3,637,000 after acquiring an additional 811 shares during the last quarter. Twin Capital Management Inc. raised its holdings in shares of Aflac by 60.7% in the third quarter. Twin Capital Management Inc. now owns 20,366 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 7,691 shares during the last quarter. Founders Financial Securities LLC raised its holdings in shares of Aflac by 25.3% in the third quarter. Founders Financial Securities LLC now owns 9,338 shares of the financial services provider’s stock worth $760,000 after acquiring an additional 1,888 shares during the last quarter. Finally, Nuance Investments LLC raised its holdings in shares of Aflac by 9.7% in the third quarter. Nuance Investments LLC now owns 128,016 shares of the financial services provider’s stock worth $10,419,000 after acquiring an additional 11,300 shares during the last quarter. 66.42% of the stock is owned by institutional investors.
Aflac Company Profile
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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