Aflac (NYSE:AFL) Price Target Raised to $104.00 at Wells Fargo & Company

Aflac (NYSE:AFL) had its price objective raised by research analysts at Wells Fargo & Company from $103.00 to $104.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 0.83% from the company’s previous close.

Several other research analysts also recently issued reports on AFL. Barclays raised their price objective on shares of Aflac from $96.00 to $98.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Keefe, Bruyette & Woods dropped their price target on Aflac from $108.00 to $107.00 and set a “market perform” rating on the stock in a research report on Friday. Truist Financial increased their price objective on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Bank of America boosted their target price on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Piper Sandler lifted their price objective on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Aflac has a consensus rating of “Hold” and a consensus target price of $102.07.

Aflac Stock Up 0.6 %

NYSE:AFL traded up $0.65 during midday trading on Tuesday, hitting $103.14. 160,202 shares of the company were exchanged, compared to its average volume of 1,458,123. Aflac has a fifty-two week low of $75.07 and a fifty-two week high of $115.50. The company has a market capitalization of $57.30 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 2.09 and a beta of 1.00. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $106.59 and a 200 day simple moving average of $105.02.

Aflac (NYSE:AFL) last released its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.47. The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The firm’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. As a group, equities analysts anticipate that Aflac will post 7.27 earnings per share for the current fiscal year.

Insider Buying and Selling at Aflac

In related news, EVP Audrey B. Tillman sold 24,744 shares of the stock in a transaction on Friday, December 27th. The stock was sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the sale, the executive vice president now owns 222,618 shares of the company’s stock, valued at $23,018,701.20. This trade represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Darwin Wealth Management LLC acquired a new position in Aflac in the third quarter valued at $34,000. Raelipskie Partnership acquired a new position in shares of Aflac during the 3rd quarter valued at about $38,000. Covestor Ltd lifted its holdings in shares of Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 107 shares during the period. Kennebec Savings Bank purchased a new position in shares of Aflac during the 3rd quarter worth about $45,000. Finally, Catalyst Capital Advisors LLC acquired a new stake in shares of Aflac in the third quarter worth approximately $51,000. 67.44% of the stock is currently owned by hedge funds and other institutional investors.

About Aflac

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. The company operates through Aflac Japan and Aflac U.S. segments. The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.