Aflac (NYSE:AFL) Price Target Raised to $100.00 at Piper Sandler

Aflac (NYSE:AFL) had its target price raised by Piper Sandler from $95.00 to $100.00 in a report published on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on AFL. StockNews.com upgraded Aflac from a sell rating to a hold rating in a research note on Friday, May 3rd. Keefe, Bruyette & Woods raised their price objective on Aflac from $83.00 to $87.00 and gave the stock a market perform rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their target price on Aflac from $81.00 to $82.00 and gave the company an equal weight rating in a research report on Friday, May 10th. Truist Financial increased their price target on shares of Aflac from $80.00 to $82.00 and gave the stock a hold rating in a report on Friday, May 3rd. Finally, Morgan Stanley lifted their price objective on shares of Aflac from $80.00 to $84.00 and gave the company an equal weight rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Aflac has an average rating of Hold and an average target price of $83.46.

Aflac Stock Up 0.2 %

Shares of AFL opened at $89.31 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $87.03 and a 200 day moving average of $83.82. The company has a market cap of $50.75 billion, a PE ratio of 9.86, a P/E/G ratio of 2.20 and a beta of 0.96. Aflac has a 52-week low of $68.34 and a 52-week high of $91.15.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Monday, May 6th. The financial services provider reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The company had revenue of $5.44 billion during the quarter, compared to analyst estimates of $4.09 billion. During the same quarter last year, the business posted $1.55 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Aflac will post 6.46 EPS for the current year.

Aflac Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 22nd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, May 21st. This is a boost from Aflac’s previous quarterly dividend of $0.42. This represents a $2.00 dividend on an annualized basis and a yield of 2.24%. Aflac’s dividend payout ratio is currently 22.08%.

Insider Buying and Selling at Aflac

In related news, Director Charles D. Lake II sold 22,378 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total transaction of $1,957,403.66. Following the completion of the transaction, the director now owns 61,522 shares in the company, valued at approximately $5,381,329.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Aflac news, Director Charles D. Lake II sold 22,378 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $87.47, for a total value of $1,957,403.66. Following the transaction, the director now owns 61,522 shares in the company, valued at approximately $5,381,329.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph L. Moskowitz sold 600 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $84.84, for a total transaction of $50,904.00. Following the sale, the director now directly owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Aflac

A number of institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC acquired a new stake in shares of Aflac during the 4th quarter worth approximately $25,000. Atwood & Palmer Inc. raised its position in Aflac by 80.0% in the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 140 shares during the period. OFI Invest Asset Management acquired a new position in shares of Aflac in the 1st quarter valued at $29,000. Bruce G. Allen Investments LLC purchased a new position in shares of Aflac during the 4th quarter worth $32,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Aflac during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 67.44% of the company’s stock.

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.