AFLAC’s (AFL) Market Perform Rating Reiterated at Wells Fargo & Co
Wells Fargo & Co reaffirmed their market perform rating on shares of AFLAC (NYSE:AFL) in a report released on Tuesday, The Fly reports. They currently have a $90.00 price objective on the financial services provider’s stock, up from their previous price objective of $84.00.
A number of other equities research analysts have also weighed in on AFL. Zacks Investment Research upgraded AFLAC from a hold rating to a buy rating and set a $92.00 price objective on the stock in a research report on Friday, September 15th. Citigroup lowered AFLAC from a neutral rating to a sell rating and reduced their price objective for the stock from $82.00 to $77.00 in a research report on Tuesday, September 26th. Royal Bank of Canada restated a sell rating and set a $71.00 price objective on shares of AFLAC in a research report on Tuesday, October 10th. Goldman Sachs Group started coverage on AFLAC in a research report on Wednesday, October 18th. They set a neutral rating and a $88.00 price objective on the stock. Finally, B. Riley restated a neutral rating on shares of AFLAC in a research report on Monday, November 6th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $80.29.
Shares of AFLAC (NYSE AFL) traded up $0.74 during mid-day trading on Tuesday, reaching $90.74. The company had a trading volume of 1,670,000 shares, compared to its average volume of 1,690,000. The company has a market cap of $35,670.00, a price-to-earnings ratio of 13.17, a P/E/G ratio of 2.64 and a beta of 1.02. AFLAC has a twelve month low of $66.50 and a twelve month high of $91.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.07 and a quick ratio of 0.07.
AFLAC (NYSE:AFL) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.07. The business had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.48 billion. AFLAC had a return on equity of 12.87% and a net margin of 12.49%. AFLAC’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.74 EPS. sell-side analysts anticipate that AFLAC will post 6.76 earnings per share for the current fiscal year.
In other AFLAC news, COO Masatoshi Koide sold 6,250 shares of the company’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $88.00, for a total value of $550,000.00. Following the sale, the chief operating officer now owns 25,037 shares in the company, valued at approximately $2,203,256. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP James Todd Daniels sold 1,430 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $87.11, for a total value of $124,567.30. Following the completion of the sale, the vice president now owns 12,708 shares in the company, valued at approximately $1,106,993.88. The disclosure for this sale can be found here. Insiders sold a total of 22,657 shares of company stock worth $1,988,685 in the last quarter. Corporate insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of AFLAC by 11.6% in the 2nd quarter. FMR LLC now owns 7,106,003 shares of the financial services provider’s stock valued at $551,994,000 after purchasing an additional 736,703 shares during the period. Victory Capital Management Inc. lifted its stake in shares of AFLAC by 6.6% in the 3rd quarter. Victory Capital Management Inc. now owns 3,562,481 shares of the financial services provider’s stock valued at $289,950,000 after purchasing an additional 220,013 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of AFLAC by 1.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,075,085 shares of the financial services provider’s stock valued at $250,315,000 after purchasing an additional 40,176 shares during the period. Investec Asset Management LTD lifted its stake in shares of AFLAC by 1.2% in the 3rd quarter. Investec Asset Management LTD now owns 2,176,715 shares of the financial services provider’s stock valued at $177,163,000 after purchasing an additional 25,412 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of AFLAC by 2.6% in the 3rd quarter. Legal & General Group Plc now owns 2,124,022 shares of the financial services provider’s stock valued at $172,881,000 after purchasing an additional 53,650 shares during the period. Hedge funds and other institutional investors own 65.63% of the company’s stock.
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Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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