Aflac (NYSE:AFL) Price Target Raised to $107.00

Aflac (NYSE:AFL) had its price objective lifted by Wells Fargo & Company to $107.00 in a research report released on Tuesday morning, Marketbeat.com reports. They currently have a hold rating on the financial services provider’s stock.

Several other equities research analysts also recently issued reports on AFL. Piper Sandler boosted their price objective on shares of Aflac from $114.00 to $122.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. UBS Group lifted their target price on Aflac from $84.00 to $109.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Morgan Stanley lifted their target price on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a research note on Monday, August 19th. Truist Financial raised their price objective on shares of Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Bank of America raised their target price on shares of Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Three equities research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $98.73.

Aflac Price Performance

Shares of NYSE:AFL opened at $107.74 on Tuesday. Aflac has a one year low of $75.07 and a one year high of $115.50. The stock has a market capitalization of $59.85 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 2.04 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.08 and a current ratio of 0.08. The company has a 50-day simple moving average of $111.11 and a 200-day simple moving average of $102.01.

Aflac (NYSE:AFL) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.47. The company had revenue of $2.95 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $1.84 earnings per share. On average, analysts predict that Aflac will post 7.27 EPS for the current year.

Aflac Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Wednesday, February 19th will be paid a $0.58 dividend. This is an increase from Aflac’s previous quarterly dividend of $0.50. The ex-dividend date is Wednesday, February 19th. This represents a $2.32 annualized dividend and a dividend yield of 2.15%. Aflac’s dividend payout ratio (DPR) is presently 30.12%.

Institutional Trading of Aflac

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Y.D. More Investments Ltd acquired a new stake in shares of Aflac during the 2nd quarter valued at about $25,000. Darwin Wealth Management LLC bought a new stake in shares of Aflac in the 3rd quarter valued at approximately $34,000. Raelipskie Partnership bought a new position in shares of Aflac during the 3rd quarter worth approximately $38,000. Covestor Ltd boosted its stake in Aflac by 41.8% in the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after buying an additional 107 shares in the last quarter. Finally, Kennebec Savings Bank bought a new stake in Aflac in the third quarter valued at $45,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

About Aflac

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.