Aflac Incorporated (AFL) to Post Q3 2017 Earnings of $1.61 Per Share, FBR & Co Forecasts
Aflac Incorporated (NYSE:AFL) – Research analysts at FBR & Co increased their Q3 2017 EPS estimates for shares of Aflac in a research note issued on Tuesday. FBR & Co analyst R. Binner now anticipates that the financial services provider will earn $1.61 per share for the quarter, up from their previous estimate of $1.59. FBR & Co currently has a “Market Perform” rating and a $80.00 target price on the stock.
Aflac (NYSE:AFL) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 net margin of 11.98% and a return on equity of 13.09%. Aflac’s revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS.
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Several other research firms have also issued reports on AFL. Citigroup Inc. lowered Aflac from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $82.00 to $77.00 in a research report on Tuesday, September 26th. Royal Bank Of Canada reiterated a “sell” rating and set a $71.00 price objective on shares of Aflac in a report on Tuesday. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Wells Fargo & Company restated a “hold” rating and issued a $82.00 target price on shares of Aflac in a research note on Thursday, September 28th. Finally, BidaskClub cut Aflac from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Aflac has an average rating of “Hold” and a consensus target price of $78.86.
Aflac (AFL) opened at 83.88 on Thursday. The company has a market cap of $33.15 billion, a price-to-earnings ratio of 12.68 and a beta of 0.96. The stock’s 50 day moving average is $82.36 and its 200 day moving average is $77.91. Aflac has a 52-week low of $66.50 and a 52-week high of $84.51.
Aflac announced that its board has authorized a share repurchase plan on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In related news, President Kriss Cloninger III sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $83.83, for a total transaction of $2,095,750.00. Following the completion of the transaction, the president now directly owns 298,646 shares in the company, valued at $25,035,494.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Douglas Wayne Johnson sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total value of $125,370.00. Following the transaction, the director now owns 13,733 shares of the company’s stock, valued at $1,147,804.14. The disclosure for this sale can be found here. Insiders have sold 31,899 shares of company stock worth $2,662,483 over the last quarter. 3.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Keybank National Association OH grew its position in Aflac by 242.1% during the second quarter. Keybank National Association OH now owns 128,219 shares of the financial services provider’s stock worth $9,960,000 after buying an additional 90,741 shares in the last quarter. New Amsterdam Partners LLC NY purchased a new position in Aflac during the second quarter worth about $531,000. Delta Lloyd Asset Management N.V. purchased a new position in Aflac during the second quarter worth about $3,306,000. Coho Partners Ltd. grew its position in Aflac by 85.3% during the second quarter. Coho Partners Ltd. now owns 2,186,934 shares of the financial services provider’s stock worth $169,881,000 after buying an additional 1,006,477 shares in the last quarter. Finally, Aviance Capital Partners LLC grew its position in Aflac by 7.2% during the first quarter. Aviance Capital Partners LLC now owns 23,601 shares of the financial services provider’s stock worth $1,709,000 after buying an additional 1,577 shares in the last quarter. Institutional investors and hedge funds own 65.63% of the company’s stock.
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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