Wells Fargo & Company Increases Aflac (NYSE:AFL) Price Target to $120.00

Aflac (NYSE:AFL) had its price objective hoisted by equities researchers at Wells Fargo & Company from $111.00 to $120.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 1.62% from the company’s current price.

Other analysts have also issued research reports about the company. Piper Sandler restated an “overweight” rating and issued a $130.00 target price (up from $125.00) on shares of Aflac in a report on Tuesday, May 26th. Wall Street Zen raised shares of Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Barclays cut their target price on Aflac from $99.00 to $98.00 and set an “underweight” rating on the stock in a report on Tuesday. Morgan Stanley upped their price target on Aflac from $120.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 21st. Finally, UBS Group reissued a “neutral” rating and issued a $124.00 price objective (up from $114.00) on shares of Aflac in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $114.08.

Aflac Stock Performance

Aflac stock opened at $121.98 on Thursday. The firm’s 50 day simple moving average is $116.91 and its 200-day simple moving average is $113.28. The company has a market cap of $62.08 billion, a P/E ratio of 13.85, a price-to-earnings-growth ratio of 2.14 and a beta of 0.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.11 and a quick ratio of 0.11. Aflac has a fifty-two week low of $96.95 and a fifty-two week high of $122.80.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $1.75 EPS for the quarter, missing the consensus estimate of $1.80 by ($0.05). Aflac had a net margin of 25.60% and a return on equity of 13.88%. The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter last year, the company posted $1.66 EPS. The firm’s revenue was up 27.9% compared to the same quarter last year. As a group, equities research analysts predict that Aflac will post 7.08 EPS for the current year.

Insider Activity

In other Aflac news, Director Joseph L. Moskowitz sold 12,370 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $116.54, for a total value of $1,441,599.80. Following the sale, the director owned 33,310 shares of the company’s stock, valued at $3,881,947.40. This trade represents a 27.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Post Holdings Co. Ltd. Japan sold 27,845 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $116.71, for a total value of $3,249,789.95. Following the completion of the sale, the insider directly owned 50,898,490 shares of the company’s stock, valued at $5,940,362,767.90. This represents a 0.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 744,916 shares of company stock worth $87,118,632. 0.80% of the stock is currently owned by company insiders.

Institutional Trading of Aflac

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Whipplewood Advisors LLC acquired a new stake in shares of Aflac during the 1st quarter worth approximately $25,000. Groupe la Francaise bought a new position in Aflac during the first quarter worth about $25,000. Quarry LP acquired a new stake in Aflac during the fourth quarter valued at approximately $25,000. Nalls Sherbakoff Group LLC bought a new position in shares of Aflac during the 4th quarter worth approximately $29,000. Finally, Evergreen Advisors LLC acquired a new stake in Aflac in the 1st quarter valued at $29,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

About Aflac

Aflac Incorporated (American Family Life Assurance Company of Columbus) is a provider of supplemental insurance products designed to help policyholders manage out-of-pocket health care and living expenses. The company underwrites a range of individual and group policies that typically pay cash benefits directly to insureds when covered events occur, enabling greater financial flexibility for medical treatment, hospital stays, critical illness, and related costs. Aflac’s product mix includes supplemental health insurance, life insurance and other specialty coverages intended to complement primary medical plans.

Founded in the mid-20th century and headquartered in Columbus, Georgia, Aflac distributes its products through a combination of employer-sponsored programs, independent brokers and agents, and direct marketing.