Aflac (NYSE:AFL) Downgraded to “Sell” Rating by StockNews.com

Aflac (NYSE:AFL) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

A number of other equities analysts have also issued reports on AFL. Truist Financial upped their target price on shares of Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays started coverage on Aflac in a report on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price objective on the stock. Bank of America boosted their target price on Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Company lifted their price objective on Aflac to $107.00 and gave the stock a “hold” rating in a research report on Tuesday, December 3rd. Finally, Piper Sandler upped their target price on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Four research 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. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $98.73.

Aflac Stock Performance

AFL stock traded up $0.47 during midday trading on Tuesday, hitting $103.44. The stock had a trading volume of 1,689,836 shares, compared to its average volume of 2,205,605. The firm has a market capitalization of $57.46 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 2.09 and a beta of 0.97. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The stock has a 50-day simple moving average of $107.67 and a 200 day simple moving average of $104.18. Aflac has a 52 week low of $75.07 and a 52 week high of $115.50.

Aflac (NYSE:AFL) last released its quarterly earnings data 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. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company’s revenue was down 40.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.84 EPS. As a group, equities research analysts anticipate that Aflac will post 7.27 earnings per share for the current year.

Insider Buying and Selling at Aflac

In related news, EVP Audrey B. Tillman sold 24,744 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $103.40, for a total value of $2,558,529.60. Following the sale, the executive vice president now owns 222,618 shares in the company, valued at approximately $23,018,701.20. This represents a 10.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC grew its holdings in shares of Aflac by 7,001.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 667,706 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 658,303 shares in the last quarter. International Assets Investment Management LLC lifted its position in Aflac by 10,878.5% during the third quarter. International Assets Investment Management LLC now owns 559,903 shares of the financial services provider’s stock worth $62,597,000 after purchasing an additional 554,803 shares during the period. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Aflac by 471.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the financial services provider’s stock worth $67,080,000 after buying an additional 495,000 shares in the last quarter. Truist Financial Corp increased its holdings in Aflac by 26.6% in the 2nd quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock valued at $172,338,000 after buying an additional 405,847 shares during the period. Finally, World Investment Advisors LLC acquired a new position in shares of Aflac in the 3rd quarter valued at approximately $42,290,000. 67.44% of the stock is owned by institutional investors and hedge funds.

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.