Aflac (NYSE:AFL) Price Target Raised to $107.00 at Wells Fargo & Company

Aflac (NYSE:AFL) had its price objective increased by research analysts at Wells Fargo & Company to $107.00 in a note issued to investors on Tuesday, Stock Target Advisor reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 3.95% from the stock’s previous close.

Several other brokerages also recently issued reports on AFL. TD Cowen initiated coverage on Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price target for the company. JPMorgan Chase & Co. upped their target price on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Evercore ISI lifted their price target on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, September 26th. Morgan Stanley boosted their price objective on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research report on Monday, August 19th. Finally, UBS Group upped their target price on Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $97.93.

Aflac Stock Performance

NYSE AFL opened at $111.40 on Tuesday. Aflac has a 1-year low of $75.07 and a 1-year high of $115.50. The business has a 50 day simple moving average of $111.23 and a two-hundred day simple moving average of $101.63. The stock has a market capitalization of $61.89 billion, a PE ratio of 16.78, a P/E/G ratio of 2.18 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.08 and a quick ratio of 0.08.

Aflac (NYSE:AFL) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The firm’s revenue for the quarter was down 40.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.84 EPS. On average, research analysts predict that Aflac will post 7.27 EPS for the current fiscal year.

Institutional Investors Weigh In On Aflac

Institutional investors have recently bought and sold shares of the business. Y.D. More Investments Ltd purchased a new position in shares of Aflac in the 2nd quarter valued at $25,000. Darwin Wealth Management LLC acquired a new stake in shares of Aflac during the 3rd quarter worth about $34,000. Raelipskie Partnership purchased a new position in shares of Aflac in the 3rd quarter valued at about $38,000. Covestor Ltd lifted its position in Aflac by 41.8% in the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 107 shares during the last quarter. Finally, Kennebec Savings Bank acquired a new stake in shares of Aflac during the third quarter worth $45,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

About Aflac

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.