Morgan Stanley Forecasts Strong Price Appreciation for Aflac (NYSE:AFL) Stock

Aflac (NYSE:AFL) had its price target hoisted by stock analysts at Morgan Stanley from $120.00 to $125.00 in a report released on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 6.26% from the stock’s previous close.

AFL has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their price objective on shares of Aflac from $113.00 to $115.00 and gave the company a “market perform” rating in a research note on Friday, April 10th. UBS Group dropped their price objective on shares of Aflac from $116.00 to $114.00 and set a “neutral” rating for the company in a research note on Thursday, April 9th. Evercore raised Aflac from a “strong sell” rating to a “strong-buy” rating in a research note on Thursday, April 9th. Barclays set a $99.00 price target on Aflac and gave the stock an “underweight” rating in a report on Thursday, April 30th. Finally, Piper Sandler dropped their price objective on Aflac from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $111.82.

Aflac Price Performance

Shares of AFL stock traded up $0.42 during midday trading on Thursday, reaching $117.64. 674,850 shares of the company traded hands, compared to its average volume of 2,281,113. The firm’s 50 day simple moving average is $112.17 and its two-hundred day simple moving average is $111.53. The firm has a market cap of $59.87 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 2.06 and a beta of 0.62. 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 1-year low of $96.95 and a 1-year high of $119.81.

Aflac (NYSE:AFL) last released its quarterly earnings data on Wednesday, April 29th. The financial services provider reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.80 by ($0.05). The firm had revenue of $4.24 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Aflac had a net margin of 25.60% and a return on equity of 13.88%. The business’s revenue for the quarter was up 27.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 earnings per share. On average, equities research analysts expect that Aflac will post 7.12 EPS for the current fiscal year.

Insider Activity at Aflac

In other news, Director Thomas J. Kenny sold 1,740 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $116.57, for a total value of $202,831.80. Following the transaction, the director owned 13,219 shares of the company’s stock, valued at approximately $1,540,938.83. This trade represents a 11.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Miwako Hosoda sold 243 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $114.50, for a total transaction of $27,823.50. Following the completion of the transaction, the director owned 7,743 shares in the company, valued at $886,573.50. This represents a 3.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 739,815 shares of company stock valued at $82,996,891 over the last quarter. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Aflac

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Aflac by 13.4% during the 4th quarter. Vanguard Group Inc. now owns 57,142,072 shares of the financial services provider’s stock worth $6,301,056,000 after buying an additional 6,759,169 shares during the period. Norges Bank acquired a new stake in shares of Aflac in the 4th quarter valued at approximately $420,078,000. First Trust Advisors LP boosted its stake in Aflac by 161.9% during the 1st quarter. First Trust Advisors LP now owns 3,184,801 shares of the financial services provider’s stock worth $349,405,000 after acquiring an additional 1,968,738 shares during the last quarter. AQR Capital Management LLC boosted its stake in Aflac by 1,184.5% during the 3rd quarter. AQR Capital Management LLC now owns 1,264,090 shares of the financial services provider’s stock worth $141,199,000 after acquiring an additional 1,165,676 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Aflac by 390.7% during the fourth quarter. Marshall Wace LLP now owns 1,111,711 shares of the financial services provider’s stock valued at $122,588,000 after purchasing an additional 885,141 shares during the period. 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.