Wells Fargo & Company Forecasts Strong Price Appreciation for Aflac (NYSE:AFL) Stock

Aflac (NYSE:AFL) had its price objective hoisted by equities researchers at Wells Fargo & Company to $107.00 in a report released on Tuesday, Stock Target Advisor reports. The firm presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 0.01% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Barclays assumed coverage on Aflac in a report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 target price for the company. Bank of America upped their target price on Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. TD Cowen assumed coverage on Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 target price for the company. JPMorgan Chase & Co. upped their target price on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Finally, UBS Group upped their target price on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.73.

Aflac Stock Performance

NYSE AFL opened at $106.99 on Tuesday. The company has a market cap of $59.44 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.13 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 business’s 50 day moving average price is $111.16 and its 200-day moving average price is $101.97. Aflac has a fifty-two week low of $75.07 and a fifty-two week high of $115.50.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.47. Aflac had a return on equity of 16.34% and a net margin of 22.02%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business earned $1.84 EPS. Aflac’s revenue was down 40.4% compared to the same quarter last year. Sell-side analysts predict that Aflac will post 7.27 earnings per share for the current year.

Institutional Investors Weigh In On Aflac

Institutional investors have recently modified their holdings of the company. Y.D. More Investments Ltd purchased a new stake in Aflac in the 2nd quarter valued at approximately $25,000. Darwin Wealth Management LLC purchased a new stake in Aflac in the 3rd quarter valued at approximately $34,000. Raelipskie Partnership purchased a new stake in Aflac in the 3rd quarter valued at approximately $38,000. Covestor Ltd lifted 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 purchased a new stake in Aflac in the 3rd quarter valued at approximately $45,000. Hedge funds and other 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.