Aflac (NYSE:AFL) Price Target Raised to $107.00

Aflac (NYSE:AFL) had its price objective raised by Wells Fargo & Company from $106.00 to $107.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

AFL has been the topic of several other research reports. Morgan Stanley raised their price target on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Citigroup boosted their price target on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Evercore ISI raised their price objective on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a research report on Thursday, September 26th. Bank of America upped their target price on shares of Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Piper Sandler raised their price target on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Aflac presently has an average rating of “Hold” and a consensus target price of $97.93.

Aflac Price Performance

Aflac stock opened at $107.44 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.10. Aflac has a one year low of $75.07 and a one year high of $115.50. The firm has a market capitalization of $59.69 billion, a P/E ratio of 16.18, a PEG ratio of 2.06 and a beta of 0.96. The business has a fifty day moving average price of $110.42 and a 200-day moving average price of $98.32.

Aflac (NYSE:AFL) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The company’s revenue was down 40.4% on a year-over-year basis. As a group, equities research analysts forecast that Aflac will post 7.05 EPS for the current year.

Aflac Announces Dividend

The firm 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, November 20th. Aflac’s dividend payout ratio (DPR) is currently 30.12%.

Institutional Trading of Aflac

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AFL. Y.D. More Investments Ltd purchased a new stake in shares of Aflac in the 2nd quarter worth about $25,000. Covestor Ltd raised its position in shares of Aflac by 41.8% in the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 107 shares in the last quarter. Kennebec Savings Bank purchased a new stake in Aflac in the third quarter worth $45,000. Cedar Wealth Management LLC bought a new stake in shares of Aflac during the 1st quarter valued at $50,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in shares of Aflac in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Company Profile

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.