Aflac (NYSE:AFL) Cut to “Sell” at StockNews.com

StockNews.com cut shares of Aflac (NYSE:AFL) from a hold rating to a sell rating in a report released on Tuesday.

Other equities research analysts also recently issued reports about the stock. Piper Sandler upped their price target on shares of Aflac from $114.00 to $122.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on shares of Aflac to $107.00 and gave the company a “hold” rating in a research note on Tuesday, December 3rd. TD Cowen started coverage on shares of Aflac in a report on Wednesday, October 9th. They set a “hold” rating and a $102.00 target price for the company. Evercore ISI dropped their price target on Aflac from $104.00 to $102.00 and set an “underperform” rating on the stock in a report on Wednesday, December 4th. Finally, Barclays assumed coverage on Aflac in a research note on Wednesday, September 4th. They set an “underweight” rating and a $96.00 price objective for the company. Four research 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $98.73.

Aflac Stock Performance

Shares of NYSE AFL opened at $102.36 on Tuesday. Aflac has a 12-month low of $75.07 and a 12-month high of $115.50. The company has a market cap of $56.86 billion, a PE ratio of 15.42, a P/E/G ratio of 2.09 and a beta of 0.97. The stock has a 50 day simple moving average of $107.30 and a 200-day simple moving average of $104.16. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.32.

Aflac (NYSE:AFL) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.47. The business had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $4.30 billion. Aflac had a net margin of 22.02% and a return on equity of 16.34%. The company’s quarterly revenue was down 40.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.84 earnings per share. On average, equities research analysts forecast that Aflac will post 7.27 EPS for the current year.

Aflac Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Wednesday, February 19th will be issued a dividend of $0.58 per share. This is an increase from Aflac’s previous quarterly dividend of $0.50. This represents a $2.32 annualized dividend and a yield of 2.27%. The ex-dividend date is Wednesday, February 19th. Aflac’s dividend payout ratio (DPR) is currently 34.94%.

Insider Transactions at Aflac

In related news, EVP Audrey B. Tillman sold 24,744 shares of Aflac stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $103.40, for a total value of $2,558,529.60. Following the completion of the transaction, the executive vice president now directly owns 222,618 shares of the company’s stock, valued at $23,018,701.20. The trade was a 10.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.80% of the company’s stock.

Institutional Investors Weigh In On Aflac

Several hedge funds and other institutional investors have recently made changes to their positions in AFL. Y.D. More Investments Ltd acquired a new stake in shares of Aflac during the 2nd quarter worth approximately $25,000. Darwin Wealth Management LLC acquired a new stake in Aflac during the 3rd quarter worth $34,000. Raelipskie Partnership acquired a new stake in Aflac during the 3rd quarter worth $38,000. Covestor Ltd raised its position in shares of Aflac by 41.8% during the 3rd quarter. Covestor Ltd now owns 363 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 107 shares during the last quarter. Finally, Kennebec Savings Bank acquired a new position in shares of Aflac in the 3rd quarter valued at $45,000. 67.44% of the stock is owned by institutional investors and hedge funds.

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.