Aflac (NYSE:AFL) Stock Rating Lowered by StockNews.com

by · The Cerbat Gem

Aflac (NYSE:AFL – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

A number of other research firms have also weighed in on AFL. Truist Financial boosted their target price on shares of Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a report on Friday, November 1st. TD Cowen assumed coverage on Aflac in a report on Wednesday, October 9th. They issued a “hold” rating and a $102.00 price objective for the company. Barclays started coverage on Aflac in a research report on Wednesday, September 4th. They issued an “underweight” rating and a $96.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Aflac from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, October 3rd. Finally, Piper Sandler upped their target price on Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $98.73.

Read Our Latest Research Report on Aflac

Aflac Price Performance

Aflac stock traded up $0.47 during mid-day trading on Tuesday, reaching $103.44. The company had a trading volume of 1,689,836 shares, compared to its average volume of 2,205,605. The business has a fifty day simple moving average of $107.67 and a 200 day simple moving average of $104.18. The company has a market cap of $57.46 billion, a P/E ratio of 15.58, a P/E/G ratio of 2.09 and a beta of 0.97. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32. Aflac has a fifty-two week low of $75.07 and a fifty-two week high of $115.50.

Aflac (NYSE:AFL – Get Free Report) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The business’s revenue for the quarter was down 40.4% compared to the same quarter last year. On average, equities research analysts predict that Aflac will post 7.27 earnings per share for the current year.

Insider Buying and Selling at Aflac

In other Aflac news, EVP Audrey B. Tillman sold 24,744 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the transaction, the executive vice president now owns 222,618 shares in the company, valued at approximately $23,018,701.20. This represents a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Aflac

Hedge funds and other institutional investors have recently made changes to their positions in the business. Y.D. More Investments Ltd bought a new stake in Aflac during the second quarter worth $25,000. Darwin Wealth Management LLC purchased a new position in Aflac during the 3rd quarter worth $34,000. Raelipskie Partnership bought a new stake in shares of Aflac in the 3rd quarter worth $38,000. Covestor Ltd raised its holdings in shares of Aflac by 41.8% in the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 107 shares during the last quarter. Finally, Kennebec Savings Bank bought a new position in shares of Aflac during the third quarter valued at about $45,000. 67.44% of the stock is owned by institutional investors.

About Aflac

(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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