Aflac (NYSE:AFL) Sets New 52-Week High at $89.96

Aflac Incorporated (NYSE:AFLGet Free Report)’s stock price hit a new 52-week high on Thursday . The company traded as high as $89.96 and last traded at $89.90, with a volume of 771931 shares. The stock had previously closed at $88.99.

Wall Street Analysts Forecast Growth

AFL has been the topic of several research reports. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Morgan Stanley upped their target price on Aflac from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. Wells Fargo & Company lifted their price target on Aflac from $81.00 to $82.00 and gave the stock an “equal weight” rating in a research note on Friday, May 10th. Keefe, Bruyette & Woods boosted their price objective on Aflac from $83.00 to $87.00 and gave the stock a “market perform” rating in a report on Wednesday, April 10th. Finally, Piper Sandler raised their target price on shares of Aflac from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $82.38.

View Our Latest Stock Report on AFL

Aflac Trading Down 0.1 %

The company has a fifty day moving average price of $86.17 and a 200-day moving average price of $83.57. The firm has a market capitalization of $50.94 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 2.22 and a beta of 0.96. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.34.

Aflac (NYSE:AFLGet Free Report) last posted its earnings results on Monday, May 6th. The financial services provider reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. Aflac had a net margin of 27.67% and a return on equity of 16.88%. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the previous year, the company earned $1.55 earnings per share. The company’s revenue was up 13.3% compared to the same quarter last year. On average, equities research analysts predict that Aflac Incorporated will post 6.46 EPS for the current year.

Aflac Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Wednesday, May 22nd were issued a dividend of $0.50 per share. This is a positive change from Aflac’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, May 21st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.23%. Aflac’s dividend payout ratio is currently 22.08%.

Insider Buying and Selling at Aflac

In other news, Director Joseph L. Moskowitz sold 600 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total value of $50,904.00. Following the completion of the sale, the director now directly owns 27,550 shares in the company, valued at $2,337,342. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Aflac news, Director Charles D. Lake II sold 22,378 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $87.47, for a total value of $1,957,403.66. Following the sale, the director now directly owns 61,522 shares in the company, valued at approximately $5,381,329.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph L. Moskowitz sold 600 shares of the company’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $84.84, for a total transaction of $50,904.00. Following the transaction, the director now directly owns 27,550 shares of the company’s stock, valued at approximately $2,337,342. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Aflac

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC bought a new position in shares of Aflac during the 4th quarter worth about $25,000. Atwood & Palmer Inc. grew its stake in shares of Aflac by 80.0% in the 1st quarter. Atwood & Palmer Inc. now owns 315 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 140 shares during the period. OFI Invest Asset Management acquired a new position in shares of Aflac in the 1st quarter worth approximately $29,000. Bruce G. Allen Investments LLC bought a new position in shares of Aflac during the 4th quarter worth approximately $32,000. Finally, Criterion Capital Advisors LLC acquired a new stake in Aflac in the 4th quarter valued at $33,000. 67.44% of the stock is currently owned by institutional investors.

Aflac Company Profile

(Get Free Report)

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.

Further Reading

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