Aflac (NYSE:AFL) Price Target Raised to $100.00

Aflac (NYSE:AFL) had its target price hoisted by Truist Financial from $82.00 to $100.00 in a research report released on Friday morning, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other analysts have also commented on AFL. Morgan Stanley lifted their price objective on Aflac from $80.00 to $84.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Keefe, Bruyette & Woods upped 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. Jefferies Financial Group dropped their price objective on Aflac from $84.00 to $83.00 and set a hold rating on the stock in a research note on Friday, June 28th. Wells Fargo & Company upped 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, StockNews.com upgraded Aflac from a sell rating to a hold rating in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Aflac presently has an average rating of Hold and an average price target of $88.08.

Aflac Price Performance

Shares of AFL opened at $97.17 on Friday. The company has a market capitalization of $55.21 billion, a price-to-earnings ratio of 10.67, a P/E/G ratio of 2.76 and a beta of 0.95. Aflac has a fifty-two week low of $72.78 and a fifty-two week high of $104.90. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.08. The business’s 50-day moving average is $90.78 and its 200-day moving average is $85.74.

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 16.22% and a net margin of 28.35%. The business had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The firm’s quarterly revenue was down .7% compared to the same quarter last year. Equities research analysts expect that Aflac will post 6.48 EPS for the current fiscal year.

Aflac Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 2nd. Investors of record on Wednesday, August 21st will be given a $0.50 dividend. The ex-dividend date is Wednesday, August 21st. This represents a $2.00 annualized dividend and a yield of 2.06%. Aflac’s dividend payout ratio (DPR) is presently 22.08%.

Insider Activity at Aflac

In other news, Director Charles D. Lake II sold 22,378 shares of the stock in a transaction on 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 transaction, the director now directly owns 61,522 shares of the company’s stock, valued at approximately $5,381,329.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Aflac news, Director Joseph L. Moskowitz sold 600 shares of the stock in a transaction 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles D. Lake II sold 22,378 shares of the firm’s stock in a transaction dated 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 transaction, 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. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atwood & Palmer Inc. boosted its position in shares of Aflac by 80.0% during the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after buying an additional 140 shares during the period. OFI Invest Asset Management purchased a new position in shares of Aflac during the first quarter valued at approximately $29,000. Criterion Capital Advisors LLC purchased a new position in shares of Aflac during the fourth quarter valued at approximately $33,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Aflac during the first quarter valued at approximately $34,000. Finally, Arlington Trust Co LLC purchased a new position in shares of Aflac during the fourth quarter valued at approximately $35,000. Hedge funds and other 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.