Aflac Incorporated (AFL) Stock Rating Reaffirmed by Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their sell rating on shares of Aflac Incorporated (NYSE:AFL) in a report published on Tuesday morning. Royal Bank Of Canada currently has a $71.00 price target on the financial services provider’s stock.
A number of other research analysts have also weighed in on the stock. Wells Fargo & Company reaffirmed a hold rating and issued a $82.00 price objective on shares of Aflac in a research note on Thursday, September 28th. Citigroup Inc. lowered shares of Aflac from a neutral rating to a sell rating and dropped their price objective for the company from $82.00 to $77.00 in a research note on Tuesday, September 26th. Zacks Investment Research lowered shares of Aflac from a buy rating to a hold rating in a research report on Monday, September 25th. Bank of America Corporation lowered shares of Aflac from a neutral rating to an underperform rating in a research report on Friday, September 8th. Finally, UBS AG reissued an overweight rating on shares of Aflac in a research report on Thursday, August 24th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $78.86.
Aflac (AFL) opened at 84.01 on Tuesday. Aflac has a 12 month low of $66.50 and a 12 month high of $84.68. The company has a market capitalization of $33.20 billion, a PE ratio of 12.70 and a beta of 0.96. The stock’s 50 day moving average is $82.58 and its 200-day moving average is $78.04.
Aflac (NYSE:AFL) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The firm had revenue of $5.43 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the firm earned $1.65 earnings per share. The business’s quarterly revenue was down .2% compared to the same quarter last year. On average, analysts expect that Aflac will post $6.69 EPS for the current year.
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Aflac announced that its board has initiated a share repurchase program on Tuesday, August 8th that authorizes the company to buyback 40,000,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In related news, insider James Todd Daniels sold 620 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $81.49, for a total transaction of $50,523.80. Following the completion of the sale, the insider now owns 15,454 shares in the company, valued at $1,259,346.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Kriss Cloninger III sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the president now owns 298,646 shares of the company’s stock, valued at approximately $25,035,494.18. The disclosure for this sale can be found here. Insiders have sold 31,899 shares of company stock valued at $2,662,483 in the last 90 days. 3.00% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bollard Group LLC increased its holdings in Aflac by 0.6% during the second quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock worth $182,000 after buying an additional 14 shares during the last quarter. Washington Trust Bank increased its stake in shares of Aflac by 0.9% in the second 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 in the last quarter. Balentine LLC increased its stake in shares of Aflac by 0.3% in the second quarter. Balentine LLC now owns 6,649 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 18 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Aflac by 0.4% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock worth $564,000 after purchasing an additional 27 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 65.63% 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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