Aflac Incorporated (NYSE:AFL) Price Target Raised to $79.00 at Barclays PLC
Aflac Incorporated (NYSE:AFL) had its target price raised by Barclays PLC from $73.00 to $79.00 in a note issued to investors on Friday. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s target price would indicate a potential downside of 2.17% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Aflac from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Monday, April 17th. Raymond James Financial, Inc. raised shares of Aflac from a “market perform” rating to an “outperform” rating and set a $80.00 target price on the stock in a research note on Tuesday, April 18th. Vetr raised shares of Aflac from a “hold” rating to a “buy” rating and set a $77.50 target price on the stock in a research note on Tuesday, April 18th. Deutsche Bank AG raised their target price on shares of Aflac from $70.00 to $72.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Finally, Royal Bank Of Canada reaffirmed an “underperform” rating and issued a $66.00 target price (up from $62.00) on shares of Aflac in a research note on Monday, May 1st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Aflac has an average rating of “Hold” and an average target price of $76.50.
Shares of Aflac (NYSE AFL) traded down 0.09% during midday trading on Friday, hitting $80.75. 1,372,192 shares of the company traded hands. The stock has a market capitalization of $31.91 billion, a PE ratio of 13.13 and a beta of 0.99. Aflac has a 52 week low of $66.50 and a 52 week high of $81.80. The stock has a 50 day moving average of $78.72 and a 200-day moving average of $74.57.
Aflac (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The firm had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the firm posted $1.65 earnings per share. The company’s revenue for the quarter was down .2% on a year-over-year basis. Equities analysts forecast that Aflac will post $6.67 earnings per share for the current fiscal year.
Aflac declared that its board has approved a stock repurchase program on Tuesday, August 8th that allows the company to buyback 40,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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In other Aflac news, President Kriss Cloninger III sold 3,500 shares of Aflac stock in a transaction that occurred 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 transaction, the president now directly owns 253,196 shares of the company’s stock, valued at $20,524,067.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karole Lloyd purchased 1,000 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were acquired at an average cost of $77.01 per share, for a total transaction of $77,010.00. Following the completion of the purchase, the director now directly owns 7,253 shares of the company’s stock, valued at approximately $558,553.53. The disclosure for this purchase can be found here. Insiders have sold 240,203 shares of company stock worth $18,612,224 over the last three months. Insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. CWM LLC increased its position in Aflac by 7.7% in the first quarter. CWM LLC now owns 1,400 shares of the financial services provider’s stock valued at $101,000 after buying an additional 100 shares during the period. Atwood & Palmer Inc. boosted its position in shares of Aflac by 320.5% in the second quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,000 shares in the last quarter. Harfst & Associates Inc. purchased a new position in shares of Aflac during the first quarter valued at about $128,000. Capital Analysts LLC purchased a new position in shares of Aflac during the second quarter valued at about $131,000. Finally, Washington Trust Bank boosted its position in shares of Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after buying an additional 16 shares in the last quarter. 64.64% of the stock is currently owned by hedge funds and other institutional investors.
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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