Wall Street analysts expect Aflac Incorporated (NYSE:AFL) to post $5.48 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Aflac’s earnings. The highest sales estimate is $5.55 billion and the lowest is $5.41 billion. Aflac posted sales of $5.72 billion during the same quarter last year, which suggests a negative year over year growth rate of 4.2%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 25th.
According to Zacks, analysts expect that Aflac will report full year sales of $5.48 billion for the current financial year, with estimates ranging from $21.34 billion to $21.79 billion. For the next financial year, analysts forecast that the firm will report sales of $21.84 billion per share, with estimates ranging from $21.15 billion to $22.49 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Aflac.
Aflac (NYSE:AFL) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.20. Aflac had a net margin of 11.98% and a return on equity of 13.09%. The firm had revenue of $5.43 billion during the quarter, compared to the consensus estimate of $5.48 billion. During the same quarter in the previous year, the firm posted $1.65 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year.
A number of analysts have recently weighed in on AFL shares. Zacks Investment Research upgraded shares of Aflac from a “hold” rating to a “buy” rating and set a $93.00 price objective on the stock in a research note on Tuesday, September 5th. ValuEngine upgraded shares of Aflac from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Barclays PLC increased their price objective on shares of Aflac from $71.00 to $73.00 and gave the stock an “equal weight” rating in a research note on Monday, July 3rd. Wells Fargo & Company reiterated a “hold” rating and issued a $82.00 price objective on shares of Aflac in a research note on Thursday, September 28th. Finally, FBR & Co reiterated a “market perform” rating and issued a $80.00 price objective (up previously from $68.00) on shares of Aflac in a research note on Wednesday, July 12th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $78.41.
Shares of Aflac (AFL) traded down 0.27% during midday trading on Thursday, hitting $82.27. 877,338 shares of the stock were exchanged. The stock has a market cap of $32.52 billion, a price-to-earnings ratio of 12.44 and a beta of 0.96. Aflac has a 12 month low of $66.50 and a 12 month high of $84.51. The firm’s 50-day moving average is $82.07 and its 200-day moving average is $77.61.
Aflac announced that its Board of Directors has initiated a stock buyback plan on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
In other news, Director Douglas Wayne Johnson sold 1,500 shares of Aflac stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total value of $125,370.00. Following the sale, the director now owns 13,733 shares in the company, valued at $1,147,804.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Kriss Cloninger III sold 3,500 shares of Aflac stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $81.06, for a total transaction of $283,710.00. Following the completion of the sale, the president now owns 253,196 shares in the company, valued at approximately $20,524,067.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,899 shares of company stock worth $2,662,483. Company insiders own 3.00% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Atwood & Palmer Inc. grew its position in shares of Aflac by 320.5% in the second quarter. Atwood & Palmer Inc. now owns 1,312 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,000 shares during the period. CWM LLC grew its position in shares of Aflac by 2.1% in the second quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock valued at $111,000 after purchasing an additional 30 shares during the period. Capital Analysts LLC acquired a new stake in shares of Aflac in the second quarter valued at about $131,000. Washington Trust Bank grew its position in shares of Aflac by 0.9% in the second quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock valued at $132,000 after purchasing an additional 16 shares during the period. Finally, Harfst & Associates Inc. acquired a new stake in shares of Aflac in the first quarter valued at about $128,000. Institutional investors and hedge funds own 65.63% 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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