Wells Fargo & Company Forecasts Strong Price Appreciation for Aflac (NYSE:AFL) Stock

Aflac (NYSE:AFL) had its price objective increased by equities researchers at Wells Fargo & Company from $107.00 to $109.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 4.44% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Piper Sandler set a $125.00 target price on Aflac and gave the company an “overweight” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price objective on Aflac from $100.00 to $101.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley increased their price target on Aflac from $108.00 to $113.00 and gave the stock an “equal weight” rating in a report on Monday, August 18th. Keefe, Bruyette & Woods lifted their price objective on shares of Aflac from $108.00 to $110.00 and gave the company a “market perform” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Aflac in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $110.50.

Aflac Stock Up 0.3%

Shares of Aflac stock traded up $0.37 during trading on Friday, reaching $114.07. The stock had a trading volume of 838,986 shares, compared to its average volume of 2,185,860. Aflac has a 52 week low of $96.95 and a 52 week high of $115.43. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $108.84 and a two-hundred day moving average price of $105.69. The company has a market capitalization of $61.01 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 2.93 and a beta of 0.83.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Monday, February 27th. The financial services provider reported $1.07 EPS for the quarter. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The company had revenue of $5.91 billion during the quarter. Sell-side analysts predict that Aflac will post 6.88 EPS for the current fiscal year.

Aflac announced that its Board of Directors has initiated a stock buyback program on Tuesday, August 12th that permits the company to buyback 100,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Aflac

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NorthRock Partners LLC lifted its position in shares of Aflac by 1.5% in the 1st quarter. NorthRock Partners LLC now owns 6,519 shares of the financial services provider’s stock worth $725,000 after purchasing an additional 95 shares during the period. Valued Wealth Advisors LLC increased its position in shares of Aflac by 24.4% during the first quarter. Valued Wealth Advisors LLC now owns 495 shares of the financial services provider’s stock valued at $55,000 after acquiring an additional 97 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Aflac by 0.8% during the third quarter. Confluence Wealth Services Inc. now owns 11,827 shares of the financial services provider’s stock valued at $1,321,000 after buying an additional 97 shares during the last quarter. Courier Capital LLC raised its holdings in shares of Aflac by 3.9% during the third quarter. Courier Capital LLC now owns 2,597 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 97 shares during the last quarter. Finally, Duncan Williams Asset Management LLC lifted its holdings in shares of Aflac by 5.0% during the 2nd quarter. Duncan Williams Asset Management LLC now owns 2,065 shares of the financial services provider’s stock valued at $218,000 after buying an additional 98 shares during the period. 67.44% of the stock is currently owned by institutional investors.

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.