Aflac Inc. (AFL) Now Covered by Analysts at Credit Suisse Group AG
Stock analysts at Credit Suisse Group AG assumed coverage on shares of Aflac Inc. (NYSE:AFL) in a report released on Friday. The brokerage set an “underperform” rating and a $75.00 price target on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 4.07% from the company’s previous close.
Several other brokerages have also recently issued reports on AFL. Wells Fargo & Co. assumed coverage on shares of Aflac in a research note on Friday, September 23rd. They set a “market perform” rating for the company. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $82.00 price objective for the company in a research note on Tuesday, July 26th. Vetr cut shares of Aflac from a “hold” rating to a “sell” rating and set a $70.50 price objective for the company. in a research note on Tuesday, July 12th. Deutsche Bank AG reaffirmed a “hold” rating and set a $73.00 price objective (down previously from $75.00) on shares of Aflac in a research note on Monday, August 1st. Finally, FBR & Co reaffirmed a “hold” rating on shares of Aflac in a research note on Friday, July 29th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $69.88.
Shares of Aflac (NYSE:AFL) traded down 0.96% during trading on Friday, hitting $71.38. 348,429 shares of the stock were exchanged. Aflac has a one year low of $54.57 and a one year high of $74.50. The company has a market cap of $29.24 billion, a price-to-earnings ratio of 11.74 and a beta of 1.33. The stock’s 50 day moving average price is $72.68 and its 200-day moving average price is $70.16.
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Aflac (NYSE:AFL) last released its earnings results on Thursday, July 28th. The company reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.03. The business earned $5.44 billion during the quarter, compared to analysts’ expectations of $5.45 billion. Aflac had a net margin of 12.12% and a return on equity of 14.30%. The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 earnings per share. On average, analysts predict that Aflac will post $6.85 EPS for the current year.
In related news, VP Koji Ariyoshi sold 3,886 shares of Aflac stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $73.20, for a total value of $284,455.20. Following the sale, the vice president now owns 39,841 shares of the company’s stock, valued at approximately $2,916,361.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Audrey B. Tillman sold 1,500 shares of Aflac stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $73.98, for a total value of $110,970.00. Following the completion of the sale, the insider now directly owns 33,958 shares in the company, valued at approximately $2,512,212.84. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Aflac by 5.6% in the second quarter. Vanguard Group Inc. now owns 29,411,321 shares of the company’s stock worth $2,122,320,000 after buying an additional 1,571,695 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Aflac by 2.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,424,068 shares of the company’s stock worth $824,361,000 after buying an additional 316,344 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Aflac by 3.1% in the second quarter. Nordea Investment Management AB now owns 6,665,900 shares of the company’s stock worth $481,011,000 after buying an additional 197,448 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Aflac by 29.3% in the second quarter. Ameriprise Financial Inc. now owns 4,175,649 shares of the company’s stock worth $301,314,000 after buying an additional 945,952 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Aflac by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,505,561 shares of the company’s stock worth $220,904,000 after buying an additional 44,049 shares in the last quarter. 62.90% of the stock is currently owned by institutional investors and hedge funds.
Aflac Incorporated is a business holding company. The Company engaged in is supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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