Aflac (NYSE:AFL) PT Raised to $108.00 at Bank of America

Aflac (NYSE:AFL) had its price target increased by investment analysts at Bank of America from $105.00 to $108.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price objective would suggest a potential upside of 6.57% from the stock’s current price.

Several other equities analysts also recently issued reports on the company. Morgan Stanley lifted their price objective on Aflac from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Monday, April 15th. Citigroup boosted their target price on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods lifted their price objective on Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their price objective on Aflac from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Finally, Truist Financial lifted their price objective on Aflac from $80.00 to $82.00 and gave the stock a “hold” rating in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Aflac presently has an average rating of “Hold” and an average price target of $86.69.

Aflac Price Performance

AFL stock traded up $5.96 during trading on Thursday, hitting $101.34. The company had a trading volume of 4,194,545 shares, compared to its average volume of 2,209,645. The company has a fifty day moving average price of $90.25 and a two-hundred day moving average price of $85.47. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34. The company has a market cap of $57.58 billion, a P/E ratio of 11.19, a P/E/G ratio of 2.60 and a beta of 0.95. Aflac has a fifty-two week low of $72.78 and a fifty-two week high of $104.91.

Aflac (NYSE:AFL) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.60 by $0.23. Aflac had a return on equity of 16.88% and a net margin of 27.67%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. Aflac’s quarterly revenue was down .7% on a year-over-year basis. Equities research analysts expect that Aflac will post 6.44 earnings per share for the current fiscal year.

Insider Transactions at Aflac

In related news, Director Charles D. Lake II sold 22,378 shares of the company’s stock in a transaction dated Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the sale, the director now owns 61,522 shares in the company, valued at $5,381,329.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Aflac news, Director Joseph L. Moskowitz sold 600 shares of the company’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 value of $50,904.00. Following the sale, the director now owns 27,550 shares in the company, valued at $2,337,342. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Charles D. Lake II sold 22,378 shares of the company’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 completion of the sale, the director now owns 61,522 shares in the company, valued at approximately $5,381,329.34. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

Institutional Trading of Aflac

Several institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in Aflac by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,190,954 shares of the financial services provider’s stock valued at $263,254,000 after buying an additional 17,892 shares during the period. Norges Bank bought a new position in shares of Aflac during the fourth quarter worth approximately $197,820,000. Nordea Investment Management AB increased its stake in shares of Aflac by 6.7% during the first quarter. Nordea Investment Management AB now owns 1,806,475 shares of the financial services provider’s stock worth $155,140,000 after purchasing an additional 113,226 shares during the period. Assetmark Inc. increased its stake in shares of Aflac by 4.2% during the fourth quarter. Assetmark Inc. now owns 1,577,319 shares of the financial services provider’s stock worth $130,129,000 after purchasing an additional 64,202 shares during the period. Finally, National Pension Service increased its stake in shares of Aflac by 3.2% during the fourth quarter. National Pension Service now owns 1,483,726 shares of the financial services provider’s stock worth $122,407,000 after purchasing an additional 46,642 shares during the period. Institutional investors 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.