Aflac (NYSE:AFL) Posts Earnings Results

Aflac (NYSE:AFL) issued its quarterly earnings data on Wednesday. The financial services provider reported $1.83 EPS for the quarter, topping the consensus estimate of $1.60 by $0.23, Briefing.com reports. The firm had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. Aflac had a return on equity of 16.82% and a net margin of 28.35%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share.

Aflac Trading Down 0.5 %

Aflac stock opened at $101.14 on Friday. Aflac has a 52-week low of $72.78 and a 52-week high of $104.90. The company has a market cap of $57.47 billion, a P/E ratio of 11.18, a P/E/G ratio of 2.60 and a beta of 0.95. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $90.55 and a two-hundred day simple moving average of $85.58.

Aflac Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 2nd. Investors of record on Wednesday, August 21st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.98%. The ex-dividend date is Wednesday, August 21st. Aflac’s dividend payout ratio is currently 22.08%.

Insiders Place Their Bets

In other news, 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 sale, the director now owns 61,522 shares in the company, valued at $5,381,329.34. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Charles D. Lake II sold 22,378 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total value of $1,957,403.66. Following the sale, the director now directly owns 61,522 shares in the company, valued at approximately $5,381,329.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph L. Moskowitz sold 600 shares of the company’s 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 sale, the director now owns 27,550 shares in the company, valued at $2,337,342. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

AFL has been the topic of several recent analyst reports. Piper Sandler lifted their target price on shares of Aflac from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, June 28th. Citigroup increased their target price on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Morgan Stanley upped their target price on shares of Aflac from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. Jefferies Financial Group dropped their target price on shares of Aflac from $84.00 to $83.00 and set a “hold” rating for the company in a research report on Friday, June 28th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 10th. Two 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’s stock. According to data from MarketBeat.com, Aflac has an average rating of “Hold” and a consensus target price of $88.08.

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.