Aflac (NYSE:AFL) Price Target Raised to $61.00

Aflac (NYSE:AFL) had its price objective lifted by UBS Group from $54.00 to $61.00 in a research report sent to investors on Wednesday, Analyst Price Targets reports. UBS Group currently has a neutral rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on AFL. Piper Sandler raised their price target on Aflac from $63.00 to $67.00 and gave the company an overweight rating in a research note on Wednesday, January 5th. Morgan Stanley raised their price target on Aflac from $66.00 to $67.00 and gave the company an overweight rating in a research note on Friday, January 7th. The Goldman Sachs Group initiated coverage on Aflac in a research note on Thursday, December 2nd. They set a sell rating and a $52.00 target price for the company. Finally, Royal Bank of Canada lifted their target price on Aflac from $59.00 to $61.00 and gave the stock a sector perform rating in a research note on Wednesday, November 17th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Aflac has an average rating of Hold and a consensus target price of $55.67.

AFL stock opened at $64.06 on Wednesday. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average price of $57.75 and a two-hundred day moving average price of $55.81. The company has a market cap of $42.38 billion, a price-to-earnings ratio of 10.40, a P/E/G ratio of 2.40 and a beta of 1.01. Aflac has a twelve month low of $44.76 and a twelve month high of $64.22.

Aflac (NYSE:AFL) last posted its quarterly earnings results on Tuesday, October 26th. The financial services provider reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.21. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.36 billion. Aflac had a return on equity of 11.81% and a net margin of 18.76%. The business’s revenue was down 7.6% compared to the same quarter last year. During the same period last year, the company earned $1.39 earnings per share. On average, equities research analysts anticipate that Aflac will post 5.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 1st. Investors of record on Wednesday, February 16th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, February 15th. This is an increase from Aflac’s previous quarterly dividend of $0.33. This represents a $1.60 annualized dividend and a yield of 2.50%. Aflac’s payout ratio is 21.43%.

In other Aflac news, VP June P. Howard sold 6,840 shares of Aflac stock in a transaction on Tuesday, November 23rd. The stock was sold at an average price of $56.64, for a total value of $387,417.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas J. Kenny sold 23,701 shares of Aflac stock in a transaction on Wednesday, December 22nd. The shares were sold at an average price of $57.15, for a total value of $1,354,512.15. The disclosure for this sale can be found here. Insiders sold a total of 59,820 shares of company stock valued at $3,431,405 over the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clarius Group LLC raised its holdings in Aflac by 2.9% in the 3rd quarter. Clarius Group LLC now owns 6,534 shares of the financial services provider’s stock valued at $341,000 after acquiring an additional 187 shares in the last quarter. Colony Group LLC raised its holdings in Aflac by 3.1% in the 3rd quarter. Colony Group LLC now owns 6,298 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 187 shares in the last quarter. Wedbush Securities Inc. raised its holdings in shares of Aflac by 1.0% during the 4th quarter. Wedbush Securities Inc. now owns 19,303 shares of the financial services provider’s stock worth $1,127,000 after buying an additional 189 shares in the last quarter. Eads & Heald Wealth Management raised its holdings in shares of Aflac by 0.4% during the 3rd quarter. Eads & Heald Wealth Management now owns 42,877 shares of the financial services provider’s stock worth $2,235,000 after buying an additional 190 shares in the last quarter. Finally, SouthState Corp raised its holdings in shares of Aflac by 0.6% during the 3rd quarter. SouthState Corp now owns 30,249 shares of the financial services provider’s stock worth $1,577,000 after buying an additional 194 shares in the last quarter. 66.32% of the stock is owned by hedge funds and other institutional investors.

About Aflac

Aflac, Inc is a holding company, which engages in the provision financial protection services. It operates through the Aflac Japan and Aflac United States (U.S.) segments. The Aflac Japan segment offers life insurance, death benefits, and cash surrender values. The Aflac U.S. segment sells voluntary supplemental insurance products for people who already have major medical or primary insurance coverage.

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Analyst Recommendations for Aflac (NYSE:AFL)

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