Aflac (NYSE:AFL) Announces Quarterly Earnings Results

Aflac (NYSE:AFL) posted its quarterly earnings data on Wednesday. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.46, Briefing.com reports. The business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Aflac had a return on equity of 16.22% and a net margin of 28.35%. The business’s revenue was down 40.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 EPS.

Aflac Stock Performance

AFL traded down $4.21 during trading on Thursday, hitting $105.88. The company’s stock had a trading volume of 1,603,020 shares, compared to its average volume of 2,219,558. Aflac has a one year low of $75.07 and a one year high of $115.50. The business’s 50 day simple moving average is $110.61 and its 200-day simple moving average is $97.46. The firm has a market cap of $60.16 billion, a PE ratio of 12.15, a P/E/G ratio of 2.62 and a beta of 0.95. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%. Aflac’s dividend payout ratio is currently 22.08%.

Insider Activity at Aflac

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Aflac from $90.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Piper Sandler raised their target price on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Citigroup raised their price objective on Aflac from $84.00 to $93.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Bank of America boosted their target price on Aflac from $115.00 to $124.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley raised their price target on Aflac from $91.00 to $98.00 and gave the company an “equal weight” rating in a report on Monday, August 19th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $97.53.

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.