JPMorgan Chase & Co. Raises Aflac (NYSE:AFL) Price Target to $96.00

Aflac (NYSE:AFL - Get Free Report) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $94.00 to $96.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. JPMorgan Chase & Co.'s price objective indicates a potential downside of 3.08% from the stock's current price.

AFL has been the subject of several other research reports. Keefe, Bruyette & Woods cut their price target on shares of Aflac from $107.00 to $104.00 and set a "market perform" rating for the company in a report on Wednesday, February 12th. Wells Fargo & Company reduced their price target on shares of Aflac from $104.00 to $102.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 19th. Piper Sandler cut their price objective on Aflac from $122.00 to $118.00 and set an "overweight" rating for the company in a research note on Friday, February 7th. Evercore ISI decreased their target price on Aflac from $104.00 to $102.00 and set an "underperform" rating on the stock in a research report on Wednesday, December 4th. Finally, StockNews.com upgraded Aflac from a "sell" rating to a "hold" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Aflac currently has an average rating of "Hold" and a consensus target price of $104.29.

Remove Ads

Aflac Stock Performance

NYSE:AFL traded down $2.93 during midday trading on Wednesday, hitting $99.05. The company's stock had a trading volume of 1,130,752 shares, compared to its average volume of 2,135,055. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.10 and a quick ratio of 0.08. Aflac has a fifty-two week low of $79.31 and a fifty-two week high of $115.50. The firm's 50 day moving average is $106.95 and its 200-day moving average is $107.69. The firm has a market cap of $54.06 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.24 and a beta of 0.81.

Aflac (NYSE:AFL - Get Free Report) last posted its earnings results on Wednesday, February 5th. The financial services provider reported $1.56 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.07). Aflac had a return on equity of 16.20% and a net margin of 28.76%. Equities analysts anticipate that Aflac will post 6.88 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new position in shares of Aflac during the fourth quarter worth $26,000. BankPlus Trust Department acquired a new position in Aflac in the 4th quarter valued at about $34,000. Curio Wealth LLC purchased a new stake in Aflac during the fourth quarter worth about $36,000. Raelipskie Partnership acquired a new stake in shares of Aflac during the third quarter worth about $38,000. Finally, OFI Invest Asset Management purchased a new stake in Aflac during the 4th quarter worth approximately $38,000. 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.