Barclays Lowers AFLAC (NYSE:AFL) Price Target to $49.00

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AFLAC (NYSE:AFL) had its price target dropped by research analysts at Barclays from $53.00 to $49.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Barclays‘s price target would indicate a potential upside of 1.32% from the stock’s current price.

Several other analysts also recently issued reports on AFL. Evercore ISI downgraded shares of AFLAC from an “in-line” rating to an “underperform” rating and set a $56.57 price target on the stock. in a report on Tuesday, July 16th. Raymond James downgraded shares of AFLAC from a “strong-buy” rating to an “outperform” rating and set a $62.00 price target on the stock. in a report on Monday, July 29th. Zacks Investment Research raised shares of AFLAC from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Tuesday, April 30th. ValuEngine downgraded shares of AFLAC from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Finally, UBS Group reduced their price objective on shares of AFLAC from $50.00 to $49.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $53.07.

Shares of NYSE AFL opened at $48.36 on Friday. AFLAC has a 12-month low of $41.45 and a 12-month high of $57.18. The company has a market capitalization of $36.26 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 2.72 and a beta of 0.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.04 and a quick ratio of 0.04. The firm’s 50-day moving average is $53.84 and its two-hundred day moving average is $51.58.

AFLAC (NYSE:AFL) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.06. AFLAC had a net margin of 14.24% and a return on equity of 12.94%. The company had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts forecast that AFLAC will post 4.34 EPS for the current fiscal year.

In related news, Director Barbara K. Rimer sold 4,728 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $53.74, for a total transaction of $254,082.72. Following the transaction, the director now owns 32,448 shares of the company’s stock, valued at $1,743,755.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Albert Riggieri sold 5,247 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $52.39, for a total transaction of $274,890.33. Following the transaction, the senior vice president now directly owns 10,698 shares in the company, valued at approximately $560,468.22. The disclosure for this sale can be found here. Insiders have sold 83,230 shares of company stock worth $4,357,815 in the last three months. Insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in AFL. Breiter Capital Management Inc. increased its position in AFLAC by 72.3% during the second quarter. Breiter Capital Management Inc. now owns 20,924 shares of the financial services provider’s stock worth $1,147,000 after purchasing an additional 8,782 shares during the last quarter. RFG Advisory LLC increased its position in shares of AFLAC by 25.2% in the second quarter. RFG Advisory LLC now owns 18,113 shares of the financial services provider’s stock worth $992,000 after acquiring an additional 3,646 shares in the last quarter. BlackRock Inc. increased its position in shares of AFLAC by 1.6% in the second quarter. BlackRock Inc. now owns 53,864,475 shares of the financial services provider’s stock worth $2,952,313,000 after acquiring an additional 834,790 shares in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in shares of AFLAC in the second quarter worth $141,000. Finally, Cresset Asset Management LLC increased its position in shares of AFLAC by 8.0% in the second quarter. Cresset Asset Management LLC now owns 7,256 shares of the financial services provider’s stock worth $398,000 after acquiring an additional 538 shares in the last quarter. 65.49% of the stock is currently owned by institutional investors and hedge funds.

AFLAC Company Profile

Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.

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Analyst Recommendations for AFLAC (NYSE:AFL)

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