Aflac Incorporated (AFL) Given Consensus Rating of “Hold” by Brokerages
Shares of Aflac Incorporated (NYSE:AFL) have been given an average recommendation of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $77.28.
A number of equities analysts have weighed in on AFL shares. UBS AG restated an “overweight” rating on shares of Aflac in a report on Thursday, August 24th. Citigroup Inc. cut Aflac from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $82.00 to $77.00 in a report on Tuesday, September 26th. Zacks Investment Research cut Aflac from a “buy” rating to a “hold” rating in a report on Monday, September 25th. Barclays PLC upped their price target on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a report on Monday, July 3rd. Finally, Bank of America Corporation cut Aflac from a “neutral” rating to an “underperform” rating in a report on Friday, September 8th.
In related news, Director Douglas Wayne Johnson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total transaction of $125,370.00. Following the sale, the director now directly owns 13,733 shares of the company’s stock, valued at approximately $1,147,804.14. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $81.06, for a total value of $283,710.00. Following the sale, the president now directly owns 253,196 shares in the company, valued at $20,524,067.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,899 shares of company stock worth $2,662,483. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of AFL. Atwood & Palmer Inc. raised its position in shares of Aflac by 320.5% during the 2nd quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 1,000 shares in the last quarter. CWM LLC raised its position in shares of Aflac by 2.1% during the 2nd quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 30 shares in the last quarter. Harfst & Associates Inc. acquired a new stake in shares of Aflac during the 1st quarter valued at approximately $128,000. Capital Analysts LLC acquired a new stake in shares of Aflac during the 2nd quarter valued at approximately $131,000. Finally, Washington Trust Bank raised its position in shares of Aflac by 0.9% during the 2nd quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 16 shares in the last quarter. 65.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Aflac (AFL) opened at 83.88 on Thursday. The company has a 50-day moving average of $82.36 and a 200 day moving average of $77.91. Aflac has a one year low of $66.50 and a one year high of $84.51. The firm has a market cap of $33.15 billion, a PE ratio of 12.68 and a beta of 0.96.
Aflac (NYSE:AFL) last released its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.20. The firm had revenue of $5.43 billion during the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a return on equity of 13.09% and a net margin of 11.98%. Aflac’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. On average, equities research analysts expect that Aflac will post $6.69 EPS for the current fiscal year.
Aflac announced that its board has initiated a stock buyback plan on Tuesday, August 8th that permits the company to buyback 40,000,000 outstanding shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Aflac Company Profile
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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