Aflac (NYSE:AFL) PT Raised to $100.00 at Piper Sandler

Aflac (NYSE:AFL) had its price objective lifted by Piper Sandler from $95.00 to $100.00 in a research report released on Friday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

Several other equities analysts also recently weighed in on AFL. StockNews.com upgraded Aflac from a sell rating to a hold rating in a research report on Friday, May 3rd. Wells Fargo & Company increased their target price on Aflac from $81.00 to $82.00 and gave the stock an equal weight rating in a research report on Friday, May 10th. Morgan Stanley raised their price objective on Aflac from $80.00 to $84.00 and gave the stock an equal weight rating in a report on Monday, April 15th. Keefe, Bruyette & Woods raised their price objective on Aflac from $83.00 to $87.00 and gave the stock a market perform rating in a report on Wednesday, April 10th. Finally, Truist Financial raised their price objective on Aflac from $80.00 to $82.00 and gave the stock a hold rating in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Aflac currently has a consensus rating of Hold and an average price target of $83.46.

Aflac Stock Down 0.3 %

Shares of NYSE:AFL opened at $89.04 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34. Aflac has a 52-week low of $69.00 and a 52-week high of $91.15. The stock’s fifty day simple moving average is $87.03 and its 200-day simple moving average is $83.82. The company has a market capitalization of $50.59 billion, a P/E ratio of 9.83, a P/E/G ratio of 2.20 and a beta of 0.95.

Aflac (NYSE:AFL) last released its earnings results on Monday, May 6th. The financial services provider reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The firm had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $4.09 billion. During the same period in the prior year, the business posted $1.55 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Aflac will post 6.46 earnings per share for the current fiscal year.

Aflac Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 22nd were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Aflac’s previous quarterly dividend of $0.42. Aflac’s dividend payout ratio (DPR) is 22.08%.

Insider Activity

In other news, Director Charles D. Lake II sold 22,378 shares of the 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 sale, the director now owns 61,522 shares in the company, valued at $5,381,329.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Aflac news, Director Joseph L. Moskowitz sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the completion of the sale, the director now owns 27,550 shares in the company, valued at approximately $2,337,342. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles D. Lake II sold 22,378 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total value of $1,957,403.66. Following the sale, the director now owns 61,522 shares of the company’s stock, valued at approximately $5,381,329.34. The disclosure for this sale can be found here. Insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC acquired a new position in shares of Aflac in the 4th quarter worth approximately $25,000. Atwood & Palmer Inc. grew its position in shares of Aflac by 80.0% in the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 140 shares in the last quarter. OFI Invest Asset Management acquired a new position in shares of Aflac in the 1st quarter worth approximately $29,000. Bruce G. Allen Investments LLC acquired a new position in shares of Aflac in the 4th quarter worth approximately $32,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Aflac in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds 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.