Aflac (NYSE:AFL) Price Target Raised to $101.00

Aflac (NYSE:AFL) had its target price upped by JPMorgan Chase & Co. from $100.00 to $101.00 in a report released on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of Aflac from $108.00 to $113.00 and gave the company an “equal weight” rating in a research report on Monday, August 18th. Evercore ISI set a $110.00 price objective on Aflac and gave the company an “underperform” rating in a report on Thursday, October 9th. Wall Street Zen raised Aflac from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. UBS Group reduced their price target on Aflac from $114.00 to $111.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Aflac in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $110.50.

Aflac Trading Up 0.3%

AFL opened at $114.06 on Wednesday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. The firm has a market cap of $61.00 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 2.93 and a beta of 0.83. Aflac has a 12 month low of $96.95 and a 12 month high of $115.43. The stock has a fifty day moving average price of $108.98 and a 200-day moving average price of $105.75.

Aflac (NYSE:AFL) last issued its quarterly earnings data on Monday, February 27th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The firm had revenue of $5.91 billion for the quarter. As a group, equities research analysts anticipate that Aflac will post 6.88 earnings per share for the current fiscal year.

Aflac declared that its board has authorized a stock repurchase plan on Tuesday, August 12th that permits the company to repurchase 100,000,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Aflac Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Wednesday, November 19th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, November 19th. Aflac’s payout ratio is presently 30.29%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AFL. True Wealth Design LLC increased its holdings in Aflac by 188.5% in the 3rd quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in shares of Aflac by 1,526.7% in the 2nd quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock valued at $26,000 after buying an additional 229 shares during the period. Chilton Capital Management LLC purchased a new position in Aflac during the 2nd quarter valued at about $26,000. AlphaCore Capital LLC purchased a new stake in Aflac during the first quarter worth about $28,000. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in shares of Aflac in the second quarter valued at approximately $26,000. 67.44% of the stock is currently 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.