Aflac (NYSE:AFL) Given New $111.00 Price Target at Evercore ISI

Aflac (NYSE:AFL) had its target price boosted by Evercore ISI from $110.00 to $111.00 in a report published on Friday, Marketbeat Ratings reports. The firm currently has an underperform rating on the financial services provider’s stock.

A number of other research firms have also issued reports on AFL. Barclays reissued an “underweight” rating and issued a $104.00 target price (up previously from $102.00) on shares of Aflac in a report on Wednesday. Morgan Stanley lifted their target price on shares of Aflac from $108.00 to $113.00 and gave the company an “equal weight” rating in a report on Monday, August 18th. Piper Sandler set a $125.00 price target on shares of Aflac and gave the stock an “overweight” rating in a research note on Tuesday, October 7th. UBS Group reduced their price objective on shares of Aflac from $114.00 to $111.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised Aflac from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $110.50.

Aflac Stock Performance

Aflac stock traded up $0.36 during midday trading on Friday, hitting $114.06. 2,337,673 shares of the company’s stock were exchanged, compared to its average volume of 2,193,536. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market cap of $61.00 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.93 and a beta of 0.83. Aflac has a 12-month low of $96.95 and a 12-month high of $115.43. The firm’s 50 day simple moving average is $108.98 and its 200 day simple moving average is $105.75.

Aflac (NYSE:AFL) last announced its earnings results on Monday, February 27th. The financial services provider reported $1.07 earnings per share for the quarter. Aflac had a net margin of 15.32% and a return on equity of 15.08%. The business had revenue of $5.91 billion during the quarter. Equities research analysts predict that Aflac will post 6.88 EPS for the current year.

Aflac announced that its Board of Directors has approved a share repurchase plan on Tuesday, August 12th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Aflac Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 19th will be given a $0.58 dividend. The ex-dividend date is Wednesday, November 19th. This represents a $2.32 annualized dividend and a dividend yield of 2.0%. Aflac’s dividend payout ratio is currently 30.29%.

Institutional Investors Weigh In On Aflac

Several hedge funds have recently modified their holdings of AFL. True Wealth Design LLC grew its holdings in shares of Aflac by 188.5% during the 3rd quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the period. Mid American Wealth Advisory Group Inc. acquired a new position in Aflac during the second quarter valued at approximately $26,000. Chilton Capital Management LLC purchased a new stake in Aflac during the second quarter worth approximately $26,000. Whipplewood Advisors LLC increased its position in shares of Aflac by 1,526.7% in the second quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 229 shares in the last quarter. Finally, AlphaCore Capital LLC purchased a new position in shares of Aflac in the 1st quarter valued at $28,000. 67.44% of the stock is owned by institutional investors and hedge funds.

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.