Aflac (NYSE:AFL) Price Target Raised to $90.00 at Evercore ISI

Aflac (NYSE:AFL) had its price target raised by equities researchers at Evercore ISI from $84.00 to $90.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “underperform” rating on the financial services provider’s stock. Evercore ISI’s price target would suggest a potential downside of 17.95% from the stock’s current price.

Several other equities research analysts have also recently commented on AFL. UBS Group raised their target price on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Jefferies Financial Group dropped their target price on Aflac from $84.00 to $83.00 and set a “hold” rating on the stock in a report on Friday, June 28th. Morgan Stanley lifted their price target on Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a report on Monday, August 19th. Citigroup lifted their price target on Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Piper Sandler boosted their target price on Aflac from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $93.36.

Aflac Stock Performance

Shares of NYSE AFL opened at $109.69 on Thursday. The firm has a market cap of $61.43 billion, a price-to-earnings ratio of 12.11, a P/E/G ratio of 2.60 and a beta of 0.95. Aflac has a one year low of $74.89 and a one year high of $111.14. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.10. The stock’s fifty day moving average price is $103.52 and its two-hundred day moving average price is $92.41.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.23. The business had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. Aflac had a return on equity of 16.22% and a net margin of 28.35%. Aflac’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. On average, equities analysts forecast that Aflac will post 6.75 EPS for the current year.

Insider Buying and Selling

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the completion of the sale, the director now owns 18,158 shares of the company’s stock, valued at $1,796,552.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Aflac

Large investors have recently bought and sold shares of the business. Y.D. More Investments Ltd acquired a new position in shares of Aflac during the second quarter worth $25,000. Atwood & Palmer Inc. grew its position in Aflac by 80.0% during the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 140 shares during the period. OFI Invest Asset Management acquired a new stake in Aflac during the 1st quarter worth about $29,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Aflac during the 1st quarter worth about $34,000. Finally, Cedar Wealth Management LLC acquired a new stake in Aflac during the 1st quarter worth about $50,000. Institutional investors own 67.44% of the company’s stock.

Aflac Company Profile

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.