JPMorgan Chase & Co. Increases Aflac (NYSE:AFL) Price Target to $90.00

Aflac (NYSE:AFL) had its price objective upped by JPMorgan Chase & Co. from $85.00 to $90.00 in a research note released on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other analysts also recently issued reports about the company. UBS Group lifted their price target on Aflac from $84.00 to $109.00 and gave the company a neutral rating in a research note on Wednesday, August 14th. Evercore ISI upped their price target on shares of Aflac from $84.00 to $90.00 and gave the stock an underperform rating in a research note on Thursday, September 26th. Bank of America increased their price target on shares of Aflac from $108.00 to $115.00 and gave the company a buy rating in a report on Wednesday, September 4th. Jefferies Financial Group decreased their price objective on shares of Aflac from $84.00 to $83.00 and set a hold rating on the stock in a report on Friday, June 28th. Finally, Piper Sandler increased their target price on shares of Aflac from $114.00 to $122.00 and gave the company an overweight rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $95.43.

Aflac Stock Performance

NYSE:AFL opened at $115.26 on Thursday. The firm has a market cap of $65.49 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.10. Aflac has a 1-year low of $75.07 and a 1-year high of $115.50. The firm’s fifty day moving average price is $106.42 and its 200 day moving average price is $94.01.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.23. Aflac had a net margin of 28.35% and a return on equity of 16.22%. The business had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.10 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Aflac will post 6.75 EPS for the current year.

Aflac Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 2nd. Shareholders of record on Wednesday, August 21st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, August 21st. Aflac’s payout ratio is 22.08%.

Insider Activity

In related news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $98.94, for a total transaction of $197,880.00. Following the completion of the sale, the director now owns 18,158 shares in the company, valued at approximately $1,796,552.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Aflac

Several hedge funds have recently modified their holdings of the company. Y.D. More Investments Ltd acquired a new stake in Aflac during the second quarter worth approximately $25,000. Atwood & Palmer Inc. boosted its holdings in shares of Aflac by 80.0% during the first quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 140 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Aflac in the first quarter valued at $29,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Aflac in the first quarter valued at $34,000. Finally, Fairscale Capital LLC acquired a new position in Aflac in the second quarter valued at $54,000. 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.