Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Aflac (NYSE:AFL) Stock

Aflac (NYSE:AFL) had its target price upped by Keefe, Bruyette & Woods from $108.00 to $110.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would indicate a potential downside of 0.70% from the stock’s current price.

Several other research firms also recently weighed in on AFL. Wall Street Zen upgraded Aflac from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. UBS Group decreased their price objective on Aflac from $114.00 to $111.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Aflac in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Aflac from $96.00 to $100.00 and gave the company a “neutral” rating in a report on Tuesday, July 8th. Finally, Evercore ISI set a $110.00 target price on Aflac and gave the company an “underperform” rating in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Aflac currently has an average rating of “Hold” and a consensus target price of $109.45.

Aflac Stock Performance

AFL stock opened at $110.78 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.11 and a quick ratio of 0.11. The business has a 50-day moving average price of $107.55 and a 200 day moving average price of $105.52. The company has a market capitalization of $59.25 billion, a P/E ratio of 25.12, a PEG ratio of 3.08 and a beta of 0.86. Aflac has a 1-year low of $96.95 and a 1-year high of $115.44.

Aflac (NYSE:AFL) last released its quarterly earnings data on Monday, February 27th. The financial services provider reported $1.07 earnings per share for the quarter. The firm had revenue of $5.91 billion during the quarter. Aflac had a return on equity of 15.08% and a net margin of 15.32%. As a group, equities research analysts forecast that Aflac will post 6.88 EPS for the current fiscal year.

Aflac announced that its Board of Directors has authorized a share buyback program on Tuesday, August 12th that allows the company to buyback 100,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Aflac

In related news, Director Joseph L. Moskowitz sold 1,000 shares of Aflac stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $102.57, for a total transaction of $102,570.00. Following the completion of the sale, the director owned 25,105 shares of the company’s stock, valued at $2,575,019.85. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 modified their holdings of the company. Trust Point Inc. acquired a new stake in shares of Aflac during the third quarter worth about $424,000. Clarity Financial LLC lifted its holdings in shares of Aflac by 8.7% during the third quarter. Clarity Financial LLC now owns 2,959 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 237 shares during the period. Financial Enhancement Group LLC acquired a new stake in shares of Aflac during the third quarter worth about $741,000. Astoria Portfolio Advisors LLC. lifted its holdings in shares of Aflac by 7.5% during the third quarter. Astoria Portfolio Advisors LLC. now owns 3,461 shares of the financial services provider’s stock worth $387,000 after purchasing an additional 242 shares during the period. Finally, Louisbourg Investments Inc. lifted its holdings in shares of Aflac by 1,945.5% during the third quarter. Louisbourg Investments Inc. now owns 2,250 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 2,140 shares during the period. Institutional investors and hedge funds own 67.44% of the company’s stock.

Aflac Company Profile

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.