Wells Fargo & Company Issues Positive Forecast for Aflac (NYSE:AFL) Stock Price

Aflac (NYSE:AFL) had its target price increased by Wells Fargo & Company from $106.00 to $107.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 2.10% from the stock’s current price.

AFL has been the topic of a number of other research reports. Truist Financial upped their price target on Aflac from $100.00 to $105.00 and gave the company a “hold” rating in a research report on Friday. Evercore ISI upped their target price on Aflac from $84.00 to $90.00 and gave the company an “underperform” rating in a report on Thursday, September 26th. Barclays began coverage on shares of Aflac in a report on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price target for the company. Bank of America upped their price objective on shares of Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Finally, TD Cowen assumed coverage on shares of Aflac in a research report on Wednesday, October 9th. They set a “hold” rating and a $102.00 price objective for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $97.93.

Aflac Trading Up 0.3 %

Aflac stock traded up $0.29 during trading hours on Tuesday, hitting $104.80. The stock had a trading volume of 319,782 shares, compared to its average volume of 2,230,101. The business’s 50 day simple moving average is $110.46 and its 200-day simple moving average is $98.09. Aflac has a one year low of $75.07 and a one year high of $115.50. The stock has a market cap of $58.69 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.07 and a beta of 0.96. The company has a quick ratio of 0.10, a current ratio of 0.08 and a debt-to-equity ratio of 0.32.

Aflac (NYSE:AFL) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.47. The firm had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The company’s revenue was down 40.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 EPS. On average, equities analysts predict that Aflac will post 7.05 EPS for the current fiscal year.

Insider Activity at Aflac

In other Aflac news, Director Thomas J. Kenny sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the transaction, the director now directly owns 18,158 shares of the company’s stock, valued at approximately $1,796,552.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Aflac

Several institutional investors have recently bought and sold shares of AFL. Y.D. More Investments Ltd bought a new position in shares of Aflac during the 2nd quarter worth approximately $25,000. Covestor Ltd increased its holdings in Aflac by 41.8% during the third quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock worth $41,000 after buying an additional 107 shares during the last quarter. Kennebec Savings Bank bought a new stake in Aflac in the third quarter worth about $45,000. Cedar Wealth Management LLC purchased a new stake in shares of Aflac during the 1st quarter worth approximately $50,000. Finally, Catalyst Capital Advisors LLC bought a new stake in shares of Aflac in the 3rd quarter worth approximately $51,000. 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.