Aflac (NYSE:AFL) Stock Price Target Lowered at Wells Fargo & Company

Aflac (NYSE:AFL) had its target price reduced by Wells Fargo & Company from $122.00 to $116.00 in a report released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the financial services provider’s stock.

Several other research firms have also weighed in on AFL. Wall Street Zen lowered shares of Aflac from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Jefferies Financial Group restated a “hold” rating and set a $108.00 price target (up from $100.00) on shares of Aflac in a report on Friday, July 10th. Piper Sandler restated an “overweight” rating and set a $138.00 price target (up from $130.00) on shares of Aflac in a report on Monday, August 10th. UBS Group reaffirmed a “neutral” rating and set a $125.00 price target (up from $124.00) on shares of Aflac in a research report on Tuesday, October 6th. Finally, TD Cowen reiterated a “hold” rating and issued a $110.00 price objective (up from $101.00) on shares of Aflac in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Aflac has an average rating of “Hold” and an average price target of $115.31.

Aflac Stock Up 1.1%

NYSE AFL opened at $115.83 on Monday. The business’s fifty day simple moving average is $116.95 and its 200-day simple moving average is $116.97. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29. The firm has a market cap of $58.07 billion, a PE ratio of 12.42, a P/E/G ratio of 1.85 and a beta of 0.56. Aflac has a 52 week low of $105.43 and a 52 week high of $130.22.

Aflac (NYSE:AFL) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.01). Aflac had a net margin of 26.91% and a return on equity of 13.27%. The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the prior year, the company posted $1.78 EPS. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Aflac will post 7.04 earnings per share for the current year.

Aflac Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.61 per share. The ex-dividend date was Wednesday, August 19th. This represents a $2.44 dividend on an annualized basis and a yield of 2.1%. Aflac’s dividend payout ratio is 26.15%.

Insider Transactions at Aflac

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $112.80, for a total value of $1,353,600.00. Following the completion of the transaction, the insider owned 50,382,140 shares of the company’s stock, valued at $5,683,105,392. This trade represents a 0.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 465,851 shares of company stock worth $54,213,397. 0.80% of the stock is owned by corporate insiders.

Institutional Trading of Aflac

Hedge funds have recently modified their holdings of the stock. Archer Investment Corp bought a new stake in shares of Aflac during the 2nd quarter worth approximately $26,000. Groupe la Francaise acquired a new stake in shares of Aflac in the 1st quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of Aflac in the second quarter valued at $27,000. Whipplewood Advisors LLC bought a new position in shares of Aflac in the first quarter valued at $25,000. Finally, Washington Trust Advisors Inc. bought a new position in shares of Aflac in the second quarter valued at $29,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

More Aflac News

Here are the key news stories impacting Aflac this week:

• Neutral Sentiment: KBW reaffirmed its “Hold” rating on Aflac, signaling that the firm sees limited near-term reasons to materially change its view of the insurer. KBW Reaffirms Their Hold Rating on AFLAC
• Neutral Sentiment: Aflac was reported trading at approximately €102.45 in premarket activity. The indication provides limited insight into U.S. trading because of currency and market differences. Aflac Stock Premarket
• Negative Sentiment: Wells Fargo lowered its Aflac price target to $116 from $122 and assigned an “Equal Weight” rating. The revised target implies almost no upside from the referenced share price, suggesting limited expected near-term appreciation. Wells Fargo Adjusts Price Target on Aflac
• Negative Sentiment: Major shareholder Post Holdings Co. Ltd. Japan sold 13,050 shares for approximately $1.48 million. Additional reported sales totaled roughly $1.35 million and $1.48 million, including a preplanned 12,000-share transaction. These trades may weigh on sentiment, although their preplanned nature reduces their significance as a signal about Aflac’s business outlook. Aflac Insider Sale

About Aflac

Aflac Incorporated (NYSE: AFL) is an insurance company that provides supplemental health and life insurance products to individuals, employers and groups. Its coverage is designed to help policyholders manage expenses that may not be fully covered by major medical insurance, including costs associated with illness, injury and other qualifying events.

The company’s products include accident, cancer, critical illness, hospital indemnity, disability, dental, vision and life insurance. Aflac distributes its policies through workplace benefits programs, independent agents, brokers and other distribution channels.

Founded in 1955 as American Family Life Assurance Company of Columbus, Aflac has its headquarters in Columbus, Georgia.