BMO Capital Markets started coverage on shares of Aflac (NYSE:AFL – Free Report) in a research report released on Thursday, Marketbeat.com reports. The brokerage issued a market perform rating and a $111.00 price target on the financial services provider’s stock.
Other research analysts have also recently issued reports about the company. Bank of America lifted their price objective on Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. boosted their price target on shares of Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Evercore ISI dropped their price objective on shares of Aflac from $104.00 to $102.00 and set an “underperform” rating for the company in a report on Wednesday, December 4th. Wells Fargo & Company lifted their target price on shares of Aflac from $103.00 to $104.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler increased their price target on Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Aflac currently has an average rating of “Hold” and a consensus target price of $102.67.
View Our Latest Research Report on AFL
Aflac Stock Performance
Aflac (NYSE:AFL – Get Free Report) last issued its 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 business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. Aflac’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. As a group, research analysts forecast that Aflac will post 7.26 earnings per share for the current fiscal year.
Aflac Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Wednesday, February 19th. This is a positive change from Aflac’s previous quarterly dividend of $0.50. Aflac’s dividend payout ratio is 34.94%.
Insider Activity at Aflac
In related news, EVP Audrey B. Tillman sold 24,744 shares of the stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $103.40, for a total value of $2,558,529.60. Following the transaction, the executive vice president now directly owns 222,618 shares in the company, valued at $23,018,701.20. This represents a 10.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is owned by company insiders.
Institutional Trading of Aflac
Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in shares of Aflac by 10,878.5% in the 3rd quarter. International Assets Investment Management LLC now owns 559,903 shares of the financial services provider’s stock worth $62,597,000 after purchasing an additional 554,803 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Aflac by 471.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 600,000 shares of the financial services provider’s stock valued at $67,080,000 after purchasing an additional 495,000 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Aflac by 670.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 556,576 shares of the financial services provider’s stock valued at $57,572,000 after buying an additional 484,378 shares during the period. Truist Financial Corp boosted its holdings in Aflac by 26.6% during the second quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock worth $172,338,000 after buying an additional 405,847 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Aflac during the 3rd quarter worth about $42,290,000. Institutional investors and hedge funds 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.
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