Aflac (NYSE:AFL) Announces Earnings Results

Aflac (NYSE:AFL) released its earnings results on Wednesday. The financial services provider reported $2.16 EPS for the quarter, beating the consensus estimate of $1.69 by $0.47, Briefing.com reports. Aflac had a return on equity of 16.51% and a net margin of 22.02%. The company had revenue of $2.95 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the firm earned $1.84 EPS. The business’s revenue for the quarter was down 40.4% on a year-over-year basis.

Aflac Stock Down 0.1 %

AFL stock opened at $104.71 on Friday. Aflac has a twelve month low of $75.07 and a twelve month high of $115.50. The company has a market cap of $58.64 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 2.24 and a beta of 0.95. The company has a quick ratio of 0.10, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average price of $110.52 and a two-hundred day moving average price of $97.68.

Aflac Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Wednesday, November 20th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date of this dividend is Wednesday, November 20th. Aflac’s dividend payout ratio is currently 30.12%.

Analyst Ratings Changes

AFL has been the topic of a number of recent research reports. Bank of America raised their price objective on shares of Aflac from $115.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Truist Financial raised their price target on Aflac from $100.00 to $105.00 and gave the stock a “hold” rating in a research report on Friday. Evercore ISI lifted their price objective on Aflac from $84.00 to $90.00 and gave the stock an “underperform” rating in a research note on Thursday, September 26th. Wells Fargo & Company increased their target price on Aflac from $90.00 to $106.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, UBS Group boosted their target price on Aflac from $84.00 to $109.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Aflac presently has a consensus rating of “Hold” and a consensus target price of $97.87.

Insider Activity at Aflac

In other news, Director Thomas J. Kenny sold 2,000 shares of Aflac stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $98.94, for a total value of $197,880.00. Following the completion of the transaction, the director now owns 18,158 shares of the company’s stock, valued at $1,796,552.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is owned by company insiders.

About Aflac

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.