Aflac (NYSE:AFL) Price Target Raised to $90.00 at Wells Fargo & Company

by · The Markets Daily

Aflac (NYSE:AFL – Free Report) had its target price hoisted by Wells Fargo & Company from $81.00 to $90.00 in a research report report published on Monday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. StockNews.com upgraded Aflac from a sell rating to a hold rating in a research report on Friday, May 3rd. Bank of America raised their price target on Aflac from $105.00 to $108.00 and gave the stock a buy rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered their price target on Aflac from $84.00 to $83.00 and set a hold rating for the company in a research report on Friday, June 28th. Citigroup raised their price target on Aflac from $84.00 to $93.00 and gave the stock a neutral rating in a research report on Tuesday, July 23rd. Finally, Morgan Stanley lifted their target price on Aflac from $80.00 to $84.00 and gave the stock an equal weight rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus price target of $88.69.

Check Out Our Latest Stock Report on AFL

Aflac Trading Down 0.0 %

AFL stock opened at $101.20 on Monday. The firm has a fifty day moving average price of $92.17 and a 200 day moving average price of $86.38. Aflac has a fifty-two week low of $72.78 and a fifty-two week high of $104.90. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.08 and a current ratio of 0.10. The firm has a market cap of $57.50 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 2.76 and a beta of 0.95.

Aflac (NYSE:AFL – Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.23. The company 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 16.22% and a net margin of 28.35%. Aflac’s revenue was down .7% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. Sell-side analysts anticipate that Aflac will post 6.48 earnings per share for the current fiscal year.

Aflac Dividend Announcement

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

Insider Activity

In other news, Director Charles D. Lake II sold 22,378 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the transaction, the director now owns 61,522 shares in the company, valued at $5,381,329.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now owns 18,158 shares in the company, valued at $1,796,552.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,957,403.66. Following the completion of the transaction, the director now owns 61,522 shares in the company, valued at approximately $5,381,329.34. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Aflac

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd purchased a new position in Aflac in the second quarter valued at about $25,000. Atwood & Palmer Inc. grew its stake in Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 140 shares during the last quarter. OFI Invest Asset Management purchased a new position in Aflac in the first quarter valued at about $29,000. Criterion Capital Advisors LLC purchased a new position in Aflac in the fourth quarter valued at about $33,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in Aflac in the first quarter valued at about $34,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

Aflac Company Profile

(Get Free Report)

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.

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