Aflac Incorporated (NYSE:AFL – Get Rating) Director Barbara K. Rimer sold 11,026 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $58.49, for a total transaction of $644,910.74. Following the sale, the director now directly owns 33,413 shares in the company, valued at approximately $1,954,326.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Aflac Stock Performance
NYSE:AFL opened at $59.43 on Friday. The firm has a 50 day simple moving average of $56.20 and a 200-day simple moving average of $59.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.07 and a quick ratio of 0.06. The firm has a market cap of $37.56 billion, a PE ratio of 8.96, a P/E/G ratio of 2.22 and a beta of 0.93. Aflac Incorporated has a 1-year low of $51.28 and a 1-year high of $67.20.
Aflac (NYSE:AFL – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The financial services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.27. The business had revenue of $5.40 billion during the quarter, compared to analyst estimates of $4.79 billion. Aflac had a net margin of 20.37% and a return on equity of 12.40%. The company’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.59 earnings per share. On average, equities analysts expect that Aflac Incorporated will post 5.32 EPS for the current year.
Aflac Dividend Announcement
Hedge Funds Weigh In On Aflac
A number of institutional investors have recently modified their holdings of AFL. MQS Management LLC increased its position in Aflac by 224.7% during the second quarter. MQS Management LLC now owns 10,674 shares of the financial services provider’s stock worth $591,000 after purchasing an additional 7,387 shares during the last quarter. M&T Bank Corp increased its position in Aflac by 1.2% during the second quarter. M&T Bank Corp now owns 86,796 shares of the financial services provider’s stock worth $4,733,000 after purchasing an additional 1,035 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Aflac by 21.9% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 70,506 shares of the financial services provider’s stock worth $3,901,000 after purchasing an additional 12,684 shares during the last quarter. Barnes Pettey Financial Advisors LLC increased its position in Aflac by 33.1% during the second quarter. Barnes Pettey Financial Advisors LLC now owns 8,118 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 2,018 shares during the last quarter. Finally, Bellwether Advisors LLC increased its position in Aflac by 14.8% during the second quarter. Bellwether Advisors LLC now owns 8,722 shares of the financial services provider’s stock worth $482,000 after purchasing an additional 1,125 shares during the last quarter. Institutional investors and hedge funds own 66.45% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. Morgan Stanley decreased their price objective on shares of Aflac from $69.00 to $66.00 and set an “overweight” rating on the stock in a report on Wednesday, July 6th. JPMorgan Chase & Co. boosted their price objective on shares of Aflac from $61.00 to $62.00 in a report on Monday, July 11th. Piper Sandler decreased their price objective on shares of Aflac from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Evercore ISI cut their target price on shares of Aflac from $60.00 to $59.00 and set an “in-line” rating for the company in a research report on Wednesday, July 6th. Finally, Citigroup assumed coverage on shares of Aflac in a research report on Monday, May 23rd. They set a “neutral” rating and a $60.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.08.
Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care income support, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.
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