Aflac (NYSE:AFL) Announces Quarterly Earnings Results

Aflac (NYSE:AFL) posted its earnings results on Wednesday. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $1.70 by $0.46, Briefing.com reports. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The business’s quarterly revenue was down 40.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.84 earnings per share.

Aflac Price Performance

NYSE AFL traded down $4.45 during trading on Thursday, reaching $105.64. 1,983,464 shares of the company traded hands, compared to its average volume of 2,221,361. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.10 and a current ratio of 0.10. The stock’s 50 day moving average price is $110.61 and its two-hundred day moving average price is $97.46. The company has a market cap of $60.03 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 2.62 and a beta of 0.95. Aflac has a 1-year low of $75.07 and a 1-year high of $115.50.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.89%. Aflac’s payout ratio is 22.08%.

Insider Buying and Selling at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the sale, the director now directly owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

AFL has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Piper Sandler increased their target price on shares of Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Truist Financial raised their price target on Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Barclays started coverage on Aflac in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target on the stock. Finally, Citigroup raised their price target on Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Aflac presently has a consensus rating of “Hold” and an average target price of $97.53.

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.