Piper Sandler Increases Aflac (NYSE:AFL) Price Target to $124.00

Aflac (NYSE:AFL - Free Report) had its target price raised by Piper Sandler from $118.00 to $124.00 in a report issued on Wednesday, Marketbeat reports. The brokerage currently has an overweight rating on the financial services provider's stock.

Other equities analysts have also issued research reports about the company. Barclays dropped their target price on Aflac from $98.00 to $95.00 and set an "underweight" rating on the stock in a report on Friday, February 7th. JPMorgan Chase & Co. increased their price target on Aflac from $94.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their target price on Aflac from $107.00 to $104.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. BMO Capital Markets initiated coverage on shares of Aflac in a research report on Thursday, January 23rd. They set a "market perform" rating and a $111.00 target price on the stock. Finally, Evercore ISI dropped their target price on shares of Aflac from $104.00 to $102.00 and set an "underperform" rating for the company in a report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Aflac presently has a consensus rating of "Hold" and a consensus price target of $104.29.

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Aflac Price Performance

Shares of AFL stock traded down $2.96 during trading hours on Wednesday, hitting $99.02. 1,130,752 shares of the company's stock were exchanged, compared to its average volume of 2,135,055. The firm has a 50 day moving average of $106.95 and a two-hundred day moving average of $107.69. Aflac has a fifty-two week low of $79.31 and a fifty-two week high of $115.50. The firm has a market cap of $54.05 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.24 and a beta of 0.81. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The financial services provider reported $1.56 EPS for the quarter, missing analysts' consensus estimates of $1.63 by ($0.07). Aflac had a return on equity of 16.20% and a net margin of 28.76%. Sell-side analysts forecast that Aflac will post 6.88 EPS for the current year.

Insider Activity

In other Aflac news, Director Joseph L. Moskowitz sold 1,000 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $107.63, for a total value of $107,630.00. Following the transaction, the director now directly owns 25,393 shares in the company, valued at $2,733,048.59. The trade was a 3.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles D. Lake II sold 29,802 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $107.29, for a total value of $3,197,456.58. Following the completion of the sale, the director now owns 49,962 shares in the company, valued at $5,360,422.98. This represents a 37.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Aflac

A number of institutional investors and hedge funds have recently made changes to their positions in AFL. Bath Savings Trust Co bought a new stake in shares of Aflac in the 1st quarter worth approximately $210,000. Farmers Trust Co. increased its stake in shares of Aflac by 24.5% during the first quarter. Farmers Trust Co. now owns 5,078 shares of the financial services provider's stock valued at $565,000 after buying an additional 1,000 shares during the period. Versant Capital Management Inc raised its holdings in shares of Aflac by 143.4% during the first quarter. Versant Capital Management Inc now owns 2,006 shares of the financial services provider's stock valued at $223,000 after acquiring an additional 1,182 shares in the last quarter. Trust Co of the South purchased a new stake in Aflac in the first quarter worth $205,000. Finally, Neville Rodie & Shaw Inc. bought a new stake in Aflac in the first quarter valued at $206,000. Hedge funds and other institutional investors own 67.44% of the company's stock.

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.