Aflac Inc. (AFL) Receives New Coverage from Analysts at Credit Suisse Group AG
Credit Suisse Group AG started coverage on shares of Aflac Inc. (NYSE:AFL) in a research note issued to investors on Friday morning. The brokerage issued an underperform rating and a $75.00 target price on the stock.
Several other equities analysts also recently issued reports on the stock. Zacks Investment Research raised shares of Aflac from a hold rating to a buy rating and set a $82.00 price target for the company in a research note on Tuesday, July 26th. Vetr raised shares of Aflac from a hold rating to a buy rating and set a $70.50 price target for the company in a research note on Monday, June 27th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Aflac in a research note on Wednesday, July 6th. Deutsche Bank AG raised their price target on shares of Aflac from $71.00 to $73.00 and gave the company a hold rating in a research note on Thursday, July 7th. Finally, FBR & Co reaffirmed a hold rating on shares of Aflac in a research note on Friday, July 29th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $69.88.
Shares of Aflac (NYSE:AFL) traded up 0.27% during trading on Friday, reaching $71.57. 328,897 shares of the company were exchanged. The firm has a market cap of $29.31 billion, a price-to-earnings ratio of 11.77 and a beta of 1.33. Aflac has a 52-week low of $54.57 and a 52-week high of $74.50. The stock’s 50-day moving average is $72.66 and its 200-day moving average is $70.21.
Aflac (NYSE:AFL) last issued its earnings results on Thursday, July 28th. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.03. Aflac had a net margin of 12.12% and a return on equity of 14.30%. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter last year, the business posted $1.50 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts predict that Aflac will post $6.85 earnings per share for the current fiscal year.
In other news, insider Teresa L. White sold 35,734 shares of Aflac stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $74.28, for a total transaction of $2,654,321.52. Following the completion of the transaction, the insider now directly owns 29,633 shares in the company, valued at $2,201,139.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Barbara K. Rimer sold 3,650 shares of Aflac stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $71.74, for a total transaction of $261,851.00. Following the transaction, the director now owns 15,910 shares of the company’s stock, valued at $1,141,383.40. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Global X Management Co. LLC boosted its position in Aflac by 2,617.5% in the second quarter. Global X Management Co. LLC now owns 1,549 shares of the company’s stock valued at $112,000 after buying an additional 1,492 shares during the period. Tower Research Capital LLC TRC boosted its position in Aflac by 51.2% in the second quarter. Tower Research Capital LLC TRC now owns 1,736 shares of the company’s stock valued at $125,000 after buying an additional 588 shares during the period. Oakworth Capital Inc. boosted its position in Aflac by 62.4% in the second quarter. Oakworth Capital Inc. now owns 1,835 shares of the company’s stock valued at $127,000 after buying an additional 705 shares during the period. Trust Department MB Financial Bank N A boosted its position in Aflac by 291.9% in the second quarter. Trust Department MB Financial Bank N A now owns 2,171 shares of the company’s stock valued at $135,000 after buying an additional 1,617 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new position in Aflac during the first quarter valued at $153,000. Hedge funds and other institutional investors own 62.89% of the company’s stock.
Aflac Incorporated is a business holding company. The Company engaged in is supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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