Aflac (NYSE:AFL) PT Raised to $108.00 at Bank of America

Aflac (NYSE:AFL) had its price target hoisted by Bank of America from $105.00 to $108.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. Bank of America‘s price target suggests a potential upside of 6.57% from the stock’s previous close.

AFL has been the topic of several other reports. Wells Fargo & Company increased their price objective on shares of Aflac from $81.00 to $82.00 and gave the company an “equal weight” rating in a report on Friday, May 10th. Jefferies Financial Group decreased their price objective on shares of Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a report on Friday, June 28th. StockNews.com raised shares of Aflac from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Truist Financial increased their price objective on shares of Aflac from $80.00 to $82.00 and gave the company a “hold” rating in a report on Friday, May 3rd. Finally, Citigroup increased their price objective on shares of Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.69.

Aflac Stock Performance

Shares of NYSE:AFL traded up $5.96 during midday trading on Thursday, reaching $101.34. The company’s stock had a trading volume of 4,194,545 shares, compared to its average volume of 2,209,645. The firm has a market capitalization of $57.58 billion, a PE ratio of 11.19, a P/E/G ratio of 2.60 and a beta of 0.95. Aflac has a twelve month low of $72.78 and a twelve month high of $104.91. The stock has a fifty day moving average of $90.25 and a 200 day moving average of $85.47. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34.

Aflac (NYSE:AFL) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.60 by $0.23. The company had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.10 billion. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The firm’s revenue was down .7% on a year-over-year basis. During the same quarter last year, the business earned $1.58 earnings per share. On average, equities analysts expect that Aflac will post 6.44 EPS for the current fiscal year.

Insider Buying and Selling at Aflac

In other Aflac news, Director Charles D. Lake II sold 22,378 shares of Aflac stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the completion of the sale, the director now directly owns 61,522 shares in the company, valued at $5,381,329.34. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Joseph L. Moskowitz sold 600 shares of Aflac stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total value of $50,904.00. Following the completion of the transaction, the director now owns 27,550 shares in the company, valued at $2,337,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles D. Lake II sold 22,378 shares of Aflac stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the completion of the transaction, the director now owns 61,522 shares of the company’s stock, valued at approximately $5,381,329.34. The disclosure for this sale can be found here. Company insiders own 0.90% 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. Atwood & Palmer Inc. grew its holdings in Aflac by 80.0% during the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 140 shares in the last quarter. OFI Invest Asset Management acquired a new position in Aflac during the 1st quarter worth approximately $29,000. Criterion Capital Advisors LLC purchased a new stake in shares of Aflac during the 4th quarter worth approximately $33,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Aflac during the 1st quarter worth approximately $34,000. Finally, Arlington Trust Co LLC purchased a new stake in shares of Aflac during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds 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.