Truist Financial Issues Positive Forecast for Aflac (NYSE:AFL) Stock Price

Aflac (NYSE:AFL) had its target price increased by Truist Financial from $100.00 to $105.00 in a report released on Friday morning, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

A number of other research analysts have also recently weighed in on AFL. TD Cowen assumed coverage on shares of Aflac in a research note on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective for the company. Piper Sandler raised 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. Barclays initiated coverage on Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Finally, Evercore ISI upped their target price on shares of Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $97.87.

Aflac Trading Down 0.2 %

Shares of Aflac stock opened at $104.51 on Friday. The company has a 50-day moving average of $110.46 and a two-hundred day moving average of $98.09. Aflac has a 12-month low of $75.07 and a 12-month high of $115.50. The company has a current ratio of 0.08, a quick ratio of 0.10 and a debt-to-equity ratio of 0.32. The stock has a market cap of $58.53 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 2.12 and a beta of 0.96.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.47. The company had revenue of $2.95 billion for the quarter, compared to analyst estimates of $4.30 billion. Aflac had a return on equity of 16.34% and a net margin of 22.02%. Aflac’s revenue was down 40.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.84 earnings per share. On average, research analysts anticipate that Aflac will post 6.87 EPS for the current fiscal year.

Aflac Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Wednesday, November 20th. Aflac’s dividend payout ratio is currently 30.12%.

Insider Transactions at Aflac

In related news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now owns 18,158 shares in the company, valued at approximately $1,796,552.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Aflac

Hedge funds and other institutional investors have recently modified their holdings of the company. Strategic Financial Concepts LLC grew its stake in Aflac by 7,001.0% during the second quarter. Strategic Financial Concepts LLC now owns 667,706 shares of the financial services provider’s stock worth $596,000 after buying an additional 658,303 shares during the period. International Assets Investment Management LLC boosted its position in Aflac by 10,878.5% during 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 period. Truist Financial Corp increased its holdings in Aflac by 26.6% in the 2nd quarter. Truist Financial Corp now owns 1,929,662 shares of the financial services provider’s stock valued at $172,338,000 after purchasing an additional 405,847 shares in the last quarter. Swedbank AB acquired a new position in shares of Aflac during the first quarter worth about $27,588,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Aflac by 6.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,807,079 shares of the financial services provider’s stock worth $429,319,000 after buying an additional 285,576 shares during the period. 67.44% of the stock is owned by institutional investors and hedge funds.

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.