Aflac Incorporated (NYSE:AFL) had its price objective increased by investment analysts at Barclays PLC from $73.00 to $79.00 in a research report issued to clients and investors on Friday. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays PLC’s price target indicates a potential downside of 2.25% from the company’s previous close.
Other equities analysts have also issued research reports about the company. Vetr raised Aflac from a “hold” rating to a “buy” rating and set a $77.50 target price for the company in a research report on Tuesday, April 18th. ValuEngine raised Aflac from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. BidaskClub lowered Aflac from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Zacks Investment Research raised Aflac from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Monday, April 17th. Finally, FBR & Co reissued a “market perform” rating and issued a $80.00 target price (up previously from $68.00) on shares of Aflac in a research report on Wednesday, July 12th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $76.50.
Shares of Aflac (NYSE AFL) opened at 80.82 on Friday. The stock has a 50 day moving average of $78.63 and a 200 day moving average of $74.49. The company has a market cap of $31.94 billion, a price-to-earnings ratio of 12.22 and a beta of 0.99. Aflac has a 1-year low of $66.50 and a 1-year high of $81.80.
Aflac (NYSE:AFL) last issued its 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. Aflac had a return on equity of 13.09% and a net margin of 11.98%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same quarter in the previous year, the firm earned $1.65 EPS. Aflac’s revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that Aflac will post $6.67 EPS for the current year.
Aflac announced that its board has initiated a share buyback plan on Tuesday, August 8th that permits the company to buyback 40,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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In other Aflac news, insider Paul S. Amos II sold 222,889 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $77.40, for a total transaction of $17,251,608.60. Following the completion of the sale, the insider now directly owns 329,540 shares in the company, valued at approximately $25,506,396. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Teresa L. White sold 11,314 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $78.01, for a total value of $882,605.14. Following the sale, the insider now owns 26,847 shares of the company’s stock, valued at $2,094,334.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 240,203 shares of company stock valued at $18,612,224. Corporate insiders own 3.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of 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 during the period. AJO LP increased its position in shares of Aflac by 157.8% in the second quarter. AJO LP now owns 3,483,353 shares of the financial services provider’s stock worth $270,587,000 after buying an additional 2,132,414 shares during the period. Vanguard Group Inc. increased its position in shares of 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 during the period. Coho Partners Ltd. increased its position in shares of Aflac by 85.3% in 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 during the period. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Aflac by 310,643.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 664,992 shares of the financial services provider’s stock worth $51,656,000 after buying an additional 664,778 shares during the period. Institutional investors own 64.64% of the company’s stock.
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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