Aflac Inc. (AFL) Receives New Coverage from Analysts at Credit Suisse Group AG
Several other equities analysts have also weighed in on AFL. Vetr upgraded Aflac from a hold rating to a buy rating and set a $70.50 target price on the stock in a report on Monday, June 27th. JPMorgan Chase & Co. reiterated a hold rating on shares of Aflac in a research note on Wednesday, July 6th. Evercore ISI initiated coverage on Aflac in a research note on Wednesday, July 6th. They issued a sell rating and a $63.00 price objective on the stock. Deutsche Bank AG lifted their price objective on Aflac from $71.00 to $73.00 and gave the stock a hold rating in a research note on Thursday, July 7th. Finally, Zacks Investment Research upgraded Aflac from a hold rating to a buy rating and set a $82.00 price objective on the stock in a research note on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. Aflac has an average rating of Hold and an average price target of $69.88.
Shares of Aflac (NYSE:AFL) traded up 0.27% during mid-day trading on Friday, hitting $71.57. The stock had a trading volume of 328,897 shares. Aflac has a one year low of $54.57 and a one year high of $74.50. The firm has a 50 day moving average of $72.66 and a 200 day moving average of $70.21. The stock has a market cap of $29.31 billion, a price-to-earnings ratio of 11.77 and a beta of 1.33.
Aflac (NYSE:AFL) last posted its earnings results on Thursday, July 28th. The company reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.03. Aflac had a return on equity of 14.30% and a net margin of 12.12%. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. On average, analysts forecast that Aflac will post $6.85 earnings per share for the current year.
In other news, Director Barbara K. Rimer sold 3,650 shares of the business’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $71.74, for a total value of $261,851.00. Following the completion of the transaction, the director now owns 15,910 shares of the company’s stock, valued at approximately $1,141,383.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Audrey B. Tillman sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $73.98, for a total transaction of $110,970.00. Following the completion of the transaction, the insider now directly owns 33,958 shares of the company’s stock, valued at $2,512,212.84. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Aflac by 5.6% in the second quarter. Vanguard Group Inc. now owns 29,411,321 shares of the company’s stock worth $2,122,320,000 after buying an additional 1,571,695 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Aflac by 2.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,424,068 shares of the company’s stock worth $824,361,000 after buying an additional 316,344 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Aflac by 3.1% in the second quarter. Nordea Investment Management AB now owns 6,665,900 shares of the company’s stock worth $481,011,000 after buying an additional 197,448 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Aflac by 29.3% in the second quarter. Ameriprise Financial Inc. now owns 4,175,649 shares of the company’s stock worth $301,314,000 after buying an additional 945,952 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Aflac by 1.3% in the first quarter. Geode Capital Management LLC now owns 3,505,561 shares of the company’s stock worth $220,904,000 after buying an additional 44,049 shares during the last quarter. 62.89% of the stock is owned by hedge funds and other institutional investors.
Aflac Incorporated is a business holding company. The Company engaged in is supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). Aflac’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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