Royal Bank Of Canada Reaffirms “Sell” Rating for Aflac Incorporated (AFL)

Royal Bank Of Canada reaffirmed their sell rating on shares of Aflac Incorporated (NYSE:AFL) in a research note released on Tuesday. They currently have a $71.00 price target on the financial services provider’s stock.

Several other research analysts also recently commented on the company. Wells Fargo & Company reissued a hold rating and issued a $82.00 price objective on shares of Aflac in a research note on Thursday, September 28th. Citigroup Inc. downgraded Aflac from a neutral rating to a sell rating and reduced their price objective for the company from $82.00 to $77.00 in a research note on Tuesday, September 26th. Zacks Investment Research downgraded Aflac from a buy rating to a hold rating in a research note on Monday, September 25th. Bank of America Corporation downgraded Aflac from a neutral rating to an underperform rating in a research note on Friday, September 8th. Finally, UBS AG reissued an overweight rating on shares of Aflac in a research note on Thursday, August 24th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $78.86.

Shares of Aflac (AFL) opened at 83.94 on Tuesday. Aflac has a 12 month low of $66.50 and a 12 month high of $84.51. The company has a market cap of $33.18 billion, a PE ratio of 12.69 and a beta of 0.96. The company has a 50-day moving average of $82.47 and a 200 day moving average of $77.95.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the company earned $1.65 EPS. The firm’s revenue was down .2% compared to the same quarter last year. On average, analysts anticipate that Aflac will post $6.69 earnings per share for the current year.

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Aflac declared that its board has authorized a share repurchase program on Tuesday, August 8th that allows the company to buyback 40,000,000 shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

In other news, President Kriss Cloninger III sold 25,000 shares of the stock in a transaction on 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 approximately $25,035,494.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Todd Daniels sold 620 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $81.49, for a total value of $50,523.80. Following the transaction, the insider now owns 15,454 shares of the company’s stock, valued at $1,259,346.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,899 shares of company stock valued at $2,662,483. Company insiders own 3.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Atwood & Palmer Inc. grew its holdings 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 worth $102,000 after purchasing an additional 1,000 shares during the period. CWM LLC grew its holdings 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 period. Capital Analysts LLC purchased a new position in shares of Aflac during the 2nd quarter worth $131,000. Washington Trust Bank grew its holdings 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 period. Finally, Harfst & Associates Inc. purchased a new position in shares of Aflac during the 1st quarter worth $128,000. 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.

Analyst Recommendations for Aflac (NYSE:AFL)

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