Aflac (NYSE:AFL) Price Target Raised to $90.00 at Evercore ISI

by · The Markets Daily

Aflac (NYSE:AFL – Free Report) had its price objective hoisted by Evercore ISI from $84.00 to $90.00 in a report published on Thursday morning, Benzinga reports. They currently have an underperform rating on the financial services provider’s stock.

AFL has been the topic of several other reports. Jefferies Financial Group cut their price objective on shares of Aflac from $84.00 to $83.00 and set a hold rating on the stock in a research report on Friday, June 28th. Citigroup lifted their price objective on shares of Aflac from $84.00 to $93.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. Truist Financial boosted their price target on shares of Aflac from $82.00 to $100.00 and gave the stock a hold rating in a research report on Friday, August 2nd. Barclays initiated coverage on shares of Aflac in a research report on Wednesday, September 4th. They set an underweight rating and a $96.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Aflac from $91.00 to $98.00 and gave the stock an equal weight rating in a research report on Monday, August 19th. Three investment 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. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $93.36.

Read Our Latest Research Report on AFL

Aflac Trading Up 0.5 %

NYSE AFL opened at $110.59 on Thursday. Aflac has a one year low of $74.89 and a one year high of $111.14. The company has a 50-day simple moving average of $104.50 and a 200-day simple moving average of $92.98. 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 firm has a market capitalization of $62.84 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95.

Aflac (NYSE:AFL – Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.23. The firm had revenue of $5.14 billion for the quarter, compared to the consensus estimate of $4.10 billion. Aflac had a net margin of 28.35% and a return on equity of 16.22%. Aflac’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the firm posted $1.58 EPS. On average, equities analysts forecast that Aflac will post 6.75 earnings per share for the current year.

Aflac Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 2nd. Investors of record on Wednesday, August 21st were issued a $0.50 dividend. The ex-dividend date was Wednesday, August 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.81%. Aflac’s payout ratio is currently 22.08%.

Insider Transactions at Aflac

In other news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now directly owns 18,158 shares of the company’s stock, valued at $1,796,552.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Y.D. More Investments Ltd purchased a new position in shares of Aflac in the second quarter worth approximately $25,000. Atwood & Palmer Inc. grew its position in 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 purchasing an additional 140 shares in the last quarter. OFI Invest Asset Management purchased a new position in Aflac during the first quarter valued at approximately $29,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Aflac during the first quarter valued at approximately $34,000. Finally, Fairscale Capital LLC purchased a new position in Aflac during the second quarter valued at approximately $54,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Aflac Company Profile

(Get Free Report)

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.

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