Equities Analysts Set Expectations for Aflac Incorporated’s FY2017 Earnings (AFL)
Aflac Incorporated (NYSE:AFL) – Analysts at Langen Mcalenn increased their FY2017 earnings per share estimates for Aflac in a research note issued to investors on Monday. Langen Mcalenn analyst L. Greenberg now anticipates that the financial services provider will post earnings of $6.78 per share for the year, up from their previous estimate of $6.75. Langen Mcalenn also issued estimates for Aflac’s Q1 2018 earnings at $1.66 EPS, Q2 2018 earnings at $1.72 EPS, Q3 2018 earnings at $1.72 EPS and Q4 2018 earnings at $1.65 EPS.
Several other research analysts have also commented on the company. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $93.00 price target for the company in a research report on Tuesday, September 5th. ValuEngine upgraded Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Barclays PLC boosted their target price on Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, July 3rd. Finally, Wells Fargo & Company reiterated a “hold” rating and set a $82.00 price target on shares of Aflac in a research note on Thursday, September 28th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $79.63.
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Shares of Aflac (NYSE:AFL) opened at 83.83 on Tuesday. The company has a 50-day moving average price of $83.30 and a 200 day moving average price of $79.01. Aflac has a 52 week low of $66.50 and a 52 week high of $85.70. The stock has a market capitalization of $33.13 billion, a PE ratio of 12.67 and a beta of 0.96.
Aflac (NYSE:AFL) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.07. The company had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.48 billion. Aflac had a return on equity of 12.87% and a net margin of 12.49%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.15%. This is a positive change from Aflac’s previous quarterly dividend of $0.43. Aflac’s dividend payout ratio (DPR) is currently 24.93%.
Aflac declared that its Board of Directors has authorized a stock buyback plan on Tuesday, August 8th that allows the company to repurchase 40,000,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
In other Aflac news, insider Audrey B. Tillman sold 310 shares of Aflac stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $83.57, for a total value of $25,906.70. Following the sale, the insider now owns 41,937 shares of the company’s stock, valued at approximately $3,504,675.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $283,710.00. Following the completion of the sale, the president now directly owns 253,196 shares in the company, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,209 shares of company stock worth $2,688,390. Corporate insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Atwood & Palmer Inc. lifted 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 during the period. 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 worth $111,000 after purchasing an additional 30 shares during the last quarter. Harfst & Associates Inc. acquired a new position in shares of Aflac during the 1st quarter worth approximately $128,000. Capital Analysts LLC acquired a new position in shares of Aflac during the 2nd quarter worth 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 worth $132,000 after purchasing an additional 16 shares during the last quarter. 65.83% of the stock is currently owned by 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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