Aflac Incorporated (AFL) Earns Neutral Rating from B. Riley
B. Riley restated their neutral rating on shares of Aflac Incorporated (NYSE:AFL) in a research report released on Monday morning. B. Riley also issued estimates for Aflac’s FY2017 earnings at $6.75 EPS, FY2018 earnings at $6.80 EPS and FY2019 earnings at $7.20 EPS.
A number of other equities research analysts have also recently commented on AFL. ValuEngine upgraded shares of Aflac from a hold rating to a buy rating in a report on Tuesday, August 1st. Citigroup Inc. cut shares of Aflac from a neutral rating to a sell rating and cut their price target for the company from $82.00 to $77.00 in a report on Tuesday, September 26th. Wells Fargo & Company set a $82.00 price target on shares of Aflac and gave the company a hold rating in a report on Wednesday, October 25th. BidaskClub cut shares of Aflac from a sell rating to a strong sell rating in a report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) began coverage on shares of Aflac in a report on Wednesday, October 18th. They set a neutral rating and a $88.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $79.63.
Shares of Aflac (NYSE:AFL) opened at $83.99 on Monday. The firm has a market cap of $33,248.66, a PE ratio of 12.55, a price-to-earnings-growth ratio of 2.50 and a beta of 1.00. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.24. Aflac has a fifty-two week low of $66.50 and a fifty-two week high of $85.70.
Aflac (NYSE:AFL) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.07. The business had revenue of $5.51 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Aflac had a net margin of 12.49% and a return on equity of 12.87%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.74 earnings per share. equities analysts expect that Aflac will post 6.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be given a dividend of $0.45 per share. This is an increase from Aflac’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.14%. Aflac’s dividend payout ratio is 24.93%.
Aflac declared that its Board of Directors has authorized a share buyback plan on Tuesday, August 8th that authorizes the company to buyback 40,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
In other Aflac news, President Kriss Cloninger III sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $83.83, for a total value of $2,095,750.00. Following the transaction, the president now directly owns 298,646 shares in the company, valued at $25,035,494.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas Wayne Johnson sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $83.58, for a total transaction of $125,370.00. Following the completion of the transaction, the director now owns 13,733 shares in the company, valued at $1,147,804.14. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,709 shares of company stock worth $2,404,680. 3.00% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. raised its position in Aflac by 320.5% in the second quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,000 shares during the period. CWM LLC raised its position in Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 30 shares during the period. Capital Analysts LLC bought a new position in Aflac in the second quarter worth approximately $131,000. Washington Trust Bank raised its position in Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 16 shares during the period. Finally, Harfst & Associates Inc. bought a new position in Aflac in the first quarter worth approximately $128,000. Institutional investors and hedge funds own 66.42% of the company’s stock.
Aflac Company Profile
Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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