TD Cowen Initiates Coverage on Aflac (NYSE:AFL)

Stock analysts at TD Cowen began coverage on shares of Aflac (NYSE:AFLGet Free Report) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set a “hold” rating and a $102.00 price target on the financial services provider’s stock. TD Cowen’s price target would indicate a potential downside of 8.62% from the company’s current price.

A number of other equities research analysts also recently issued reports on AFL. Truist Financial lifted their price target on shares of Aflac from $82.00 to $100.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Evercore ISI boosted their price target on Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company raised their target price on shares of Aflac from $81.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Monday, August 12th. Finally, Citigroup upped their price target on shares of Aflac from $84.00 to $93.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $97.53.

Read Our Latest Stock Report on Aflac

Aflac Stock Performance

NYSE AFL opened at $111.62 on Wednesday. The firm has a market cap of $63.42 billion, a P/E ratio of 12.30, a P/E/G ratio of 2.60 and a beta of 0.95. Aflac has a 52-week low of $75.07 and a 52-week high of $115.50. The business’s 50-day moving average price is $107.42 and its 200 day moving average price is $94.51. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFLGet Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The company had revenue of $5.14 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. Aflac’s quarterly revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that Aflac will post 6.75 earnings per share for the current year.

Insider Activity at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the transaction, the director now owns 18,158 shares of the company’s stock, valued at $1,796,552.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Aflac

A number of institutional investors and hedge funds have recently modified their holdings of the business. Nordea Investment Management AB boosted its position in shares of Aflac by 6.7% during the first quarter. Nordea Investment Management AB now owns 1,806,475 shares of the financial services provider’s stock worth $155,140,000 after buying an additional 113,226 shares during the period. Czech National Bank grew its holdings in Aflac by 6.4% during the second quarter. Czech National Bank now owns 98,535 shares of the financial services provider’s stock worth $8,800,000 after acquiring an additional 5,912 shares during the period. State Board of Administration of Florida Retirement System raised its position in Aflac by 3.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 718,067 shares of the financial services provider’s stock worth $61,653,000 after acquiring an additional 22,637 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Aflac by 13.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 708,248 shares of the financial services provider’s stock valued at $60,810,000 after acquiring an additional 86,578 shares during the last quarter. Finally, M&G Plc acquired a new stake in Aflac in the 2nd quarter valued at about $2,535,000. 67.44% of the stock is owned by institutional investors and hedge funds.

Aflac Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Aflac (NYSE:AFL)

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