Shares of Aflac Incorporated (NYSE:AFL – Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $119.95 and last traded at $119.8560, with a volume of 158868 shares changing hands. The stock had previously closed at $117.75.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Weiss Ratings raised Aflac from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Aflac from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Wells Fargo & Company decreased their target price on shares of Aflac from $116.00 to $111.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 5th. Keefe, Bruyette & Woods increased their target price on shares of Aflac from $113.00 to $115.00 and gave the stock a “market perform” rating in a research note on Friday, April 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $130.00 price target (up from $125.00) on shares of Aflac in a research note on Tuesday, May 26th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $112.27.
Read Our Latest Stock Analysis on AFL
Aflac Price Performance
Aflac (NYSE:AFL – Get Free Report) last announced its earnings results 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). Aflac had a return on equity of 13.88% and a net margin of 25.60%.The business had revenue of $4.24 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the previous year, the company earned $1.66 earnings per share. Aflac’s quarterly revenue was up 27.9% on a year-over-year basis. On average, equities research analysts forecast that Aflac Incorporated will post 7.08 EPS for the current year.
Aflac Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 20th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Wednesday, May 20th. Aflac’s dividend payout ratio (DPR) is presently 27.70%.
Insider Buying and Selling
In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 166,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $112.38, for a total transaction of $18,655,080.00. Following the sale, the insider owned 51,723,100 shares in the company, valued at $5,812,641,978. This represents a 0.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,082,471 shares of company stock worth $124,943,184. Insiders own 0.80% of the company’s stock.
Institutional Trading of Aflac
Several hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Aflac in the 1st quarter valued at $25,000. Groupe la Francaise acquired a new position in shares of Aflac during the first quarter worth $25,000. Quarry LP purchased a new position in Aflac in the fourth quarter valued at $25,000. Nalls Sherbakoff Group LLC acquired a new stake in Aflac in the fourth quarter valued at $29,000. Finally, Evergreen Advisors LLC acquired a new stake in Aflac in the first quarter valued at $29,000. Institutional investors and hedge funds own 67.44% of the company’s stock.
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.
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