Aflac Incorporated (NYSE:AFL) Expected to Post Earnings of $1.62 Per Share
Wall Street brokerages expect Aflac Incorporated (NYSE:AFL) to report $1.62 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Aflac’s earnings, with the lowest EPS estimate coming in at $1.58 and the highest estimate coming in at $1.66. Aflac reported earnings of $1.82 per share during the same quarter last year, which indicates a negative year over year growth rate of 11%. The firm is expected to report its next earnings results on Thursday, October 26th.
On average, analysts expect that Aflac will report full year earnings of $6.65 per share for the current fiscal year, with EPS estimates ranging from $6.50 to $6.75. For the next year, analysts expect that the firm will post earnings of $6.85 per share, with EPS estimates ranging from $6.70 to $7.05. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Aflac.
Aflac (NYSE:AFL) last issued its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. The firm had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS.
AFL has been the subject of a number of research analyst reports. Raymond James Financial, Inc. upgraded shares of Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 target price for the company in a research note on Tuesday, April 18th. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Friday, June 2nd. Barclays PLC raised their price target on shares of Aflac from $71.00 to $73.00 and gave the company an “equal weight” rating in a report on Monday, July 3rd. Royal Bank Of Canada reissued an “underperform” rating and issued a $66.00 price target (up previously from $62.00) on shares of Aflac in a report on Monday, May 1st. Finally, Deutsche Bank AG raised their price target on shares of Aflac from $70.00 to $72.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $75.95.
In other Aflac news, President Kriss Cloninger III sold 3,500 shares of Aflac stock in a transaction on Friday, August 4th. The shares were sold at an average price of $81.06, for a total transaction of $283,710.00. Following the completion of the sale, the president now owns 253,196 shares of the company’s stock, valued at approximately $20,524,067.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Teresa L. White sold 11,314 shares of Aflac stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $78.01, for a total transaction of $882,605.14. Following the sale, the insider now directly owns 26,847 shares of the company’s stock, valued at approximately $2,094,334.47. The disclosure for this sale can be found here. Insiders have sold a total of 240,203 shares of company stock valued at $18,612,224 in the last ninety days. Company insiders own 3.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Aflac by 3.4% in the first quarter. Vanguard Group Inc. now owns 31,980,927 shares of the financial services provider’s stock worth $2,316,059,000 after buying an additional 1,048,415 shares in the last quarter. BlackRock Inc. raised its stake in Aflac by 1,750.9% in the first quarter. BlackRock Inc. now owns 23,849,668 shares of the financial services provider’s stock worth $1,727,193,000 after buying an additional 22,561,116 shares in the last quarter. State Street Corp raised its stake in Aflac by 2.4% in the first quarter. State Street Corp now owns 21,858,806 shares of the financial services provider’s stock worth $1,583,023,000 after buying an additional 505,060 shares in the last quarter. AQR Capital Management LLC raised its stake in Aflac by 4.1% in the first quarter. AQR Capital Management LLC now owns 4,390,534 shares of the financial services provider’s stock worth $317,962,000 after buying an additional 173,236 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Aflac by 8.4% in the first quarter. Geode Capital Management LLC now owns 4,076,593 shares of the financial services provider’s stock worth $294,824,000 after buying an additional 314,506 shares in the last quarter. 64.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Aflac (NYSE AFL) traded up 0.17% during trading on Tuesday, reaching $81.24. The company’s stock had a trading volume of 1,192,534 shares. The company has a market capitalization of $32.17 billion, a P/E ratio of 12.28 and a beta of 0.99. Aflac has a 12 month low of $66.50 and a 12 month high of $81.58. The company’s 50-day moving average is $78.32 and its 200-day moving average is $74.16.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Monday, August 21st. Aflac’s dividend payout ratio is presently 25.94%.
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Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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