Evercore ISI Lowers Aflac (NYSE:AFL) Price Target to $102.00

Aflac (NYSE:AFL) had its target price dropped by Evercore ISI from $104.00 to $102.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “underperform” rating on the financial services provider’s stock. Evercore ISI’s target price would suggest a potential downside of 5.33% from the stock’s current price.

A number of other brokerages also recently commented on AFL. Morgan Stanley upped their price objective on Aflac from $91.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Monday, August 19th. UBS Group increased their price objective on shares of Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on shares of Aflac from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Bank of America raised their price target on shares of Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, Truist Financial boosted their price objective on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Three 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, the stock currently has an average rating of “Hold” and an average price target of $98.73.

Aflac Price Performance

Shares of AFL opened at $107.74 on Wednesday. Aflac has a 52 week low of $75.07 and a 52 week high of $115.50. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. The firm has a market cap 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 stock has a 50 day moving average of $111.11 and a 200-day moving average of $102.01.

Aflac (NYSE:AFL) last released its quarterly earnings data 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. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company posted $1.84 earnings per share. The firm’s revenue was down 40.4% on a year-over-year basis. As a group, analysts forecast that Aflac will post 7.27 EPS for the current year.

Hedge Funds Weigh In On Aflac

Several large investors have recently made changes to their positions in AFL. CWM LLC grew its position in Aflac by 1.0% in the second quarter. CWM LLC now owns 27,909 shares of the financial services provider’s stock worth $2,493,000 after buying an additional 288 shares during the last quarter. Simplicity Wealth LLC raised its position in shares of Aflac by 22.7% during the second quarter. Simplicity Wealth LLC now owns 13,476 shares of the financial services provider’s stock worth $1,204,000 after purchasing an additional 2,491 shares during the period. City Holding Co. raised its position in shares of Aflac by 5.4% during the second quarter. City Holding Co. now owns 50,662 shares of the financial services provider’s stock worth $4,524,000 after purchasing an additional 2,586 shares during the period. Capital Investment Advisors LLC lifted its holdings in shares of Aflac by 1.0% during the second quarter. Capital Investment Advisors LLC now owns 21,800 shares of the financial services provider’s stock valued at $1,947,000 after purchasing an additional 221 shares during the last quarter. Finally, Webster Bank N. A. boosted its position in shares of Aflac by 25.4% in the 2nd quarter. Webster Bank N. A. now owns 895 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 181 shares during the period. 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.