Citigroup Increases Aflac (NYSE:AFL) Price Target to $70.00

Aflac (NYSE:AFLGet Rating) had its target price boosted by Citigroup from $61.00 to $70.00 in a research report sent to investors on Wednesday, The Fly reports.

Other analysts have also issued reports about the company. Morgan Stanley raised their target price on Aflac from $67.00 to $69.00 and gave the stock an overweight rating in a report on Tuesday, November 1st. StockNews.com began coverage on shares of Aflac in a report on Wednesday, October 12th. They set a hold rating for the company. Royal Bank of Canada raised their price target on shares of Aflac from $66.00 to $68.00 and gave the company a sector perform rating in a research report on Wednesday, November 2nd. Finally, Raymond James increased their target price on shares of Aflac from $67.00 to $70.00 and gave the stock an outperform rating in a research note on Monday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average price target of $65.58.

Aflac Stock Up 0.5 %

Shares of AFL stock opened at $70.94 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.07 and a current ratio of 0.07. Aflac has a fifty-two week low of $52.07 and a fifty-two week high of $71.93. The firm has a market capitalization of $44.11 billion, a PE ratio of 9.05, a P/E/G ratio of 2.66 and a beta of 0.93. The stock’s 50-day simple moving average is $62.19 and its 200-day simple moving average is $59.38.

Aflac (NYSE:AFLGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The financial services provider reported $1.15 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.07). Aflac had a net margin of 24.16% and a return on equity of 12.53%. The business had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.58 billion. During the same period last year, the company earned $1.53 earnings per share. The firm’s revenue was down 8.0% on a year-over-year basis. Equities analysts expect that Aflac will post 5.31 earnings per share for the current year.

Aflac Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Wednesday, February 15th will be given a dividend of $0.42 per share. This is an increase from Aflac’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, February 14th. This represents a $1.68 dividend on an annualized basis and a yield of 2.37%. Aflac’s dividend payout ratio (DPR) is presently 20.41%.

Aflac announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 8th that authorizes the company to repurchase 100,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Aflac news, Director Toshihiko Fukuzawa sold 1,400 shares of Aflac stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $70.64, for a total transaction of $98,896.00. Following the transaction, the director now directly owns 10,258 shares of the company’s stock, valued at $724,625.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Aflac news, EVP Eric M. Kirsch sold 28,400 shares of the company’s stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $70.90, for a total value of $2,013,560.00. Following the transaction, the executive vice president now owns 35,721 shares of the company’s stock, valued at $2,532,618.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Toshihiko Fukuzawa sold 1,400 shares of Aflac stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $70.64, for a total transaction of $98,896.00. Following the sale, the director now owns 10,258 shares of the company’s stock, valued at $724,625.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,100 shares of company stock valued at $2,129,547. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aflac

Hedge funds have recently made changes to their positions in the stock. Texas Permanent School Fund lifted its stake in Aflac by 0.6% during the 2nd quarter. Texas Permanent School Fund now owns 78,278 shares of the financial services provider’s stock worth $4,331,000 after acquiring an additional 458 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Aflac by 6.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 78,506 shares of the financial services provider’s stock worth $4,343,000 after purchasing an additional 4,837 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Aflac by 10.9% in the first quarter. Van ECK Associates Corp now owns 73,817 shares of the financial services provider’s stock valued at $4,753,000 after purchasing an additional 7,237 shares during the period. HM Payson & Co. grew its holdings in shares of Aflac by 5.5% in the first quarter. HM Payson & Co. now owns 170,960 shares of the financial services provider’s stock valued at $11,008,000 after purchasing an additional 8,963 shares in the last quarter. Finally, Southern Capital Advisors LLC grew its stake in shares of Aflac by 10.5% in the second quarter. Southern Capital Advisors LLC now owns 38,612 shares of the financial services provider’s stock worth $2,136,000 after acquiring an additional 3,669 shares in the last quarter. Hedge funds and other institutional investors own 66.32% of the company’s stock.

About Aflac

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Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers cancer, medical, nursing care income support, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.

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