Aflac Incorporated (NYSE:AFL – Get Rating) – Stock analysts at Jefferies Financial Group cut their Q2 2022 earnings per share estimates for shares of Aflac in a research report issued to clients and investors on Sunday, April 10th. Jefferies Financial Group analyst S. Kamath now forecasts that the financial services provider will post earnings of $1.32 per share for the quarter, down from their prior estimate of $1.34. Jefferies Financial Group has a “Hold” rating and a $60.00 price objective on the stock. Jefferies Financial Group also issued estimates for Aflac’s Q3 2022 earnings at $1.28 EPS, FY2022 earnings at $5.20 EPS and Q2 2023 earnings at $1.37 EPS.
Aflac (NYSE:AFL – Get Rating) last released its quarterly earnings results on Wednesday, February 2nd. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. Aflac had a return on equity of 12.12% and a net margin of 19.57%. The business had revenue of $5.43 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same quarter last year, the company posted $1.07 EPS. Aflac’s revenue for the quarter was down 8.1% on a year-over-year basis.
A number of other research firms have also weighed in on AFL. Piper Sandler increased their price target on Aflac from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Wednesday, April 6th. Royal Bank of Canada increased their price objective on Aflac from $61.00 to $66.00 in a research note on Friday, February 4th. Morgan Stanley increased their price objective on Aflac from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 22nd. Wolfe Research assumed coverage on Aflac in a research note on Friday, January 21st. They issued a “market perform” rating and a $63.00 price objective for the company. Finally, StockNews.com assumed coverage on Aflac in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $61.45.
NYSE:AFL opened at $64.89 on Wednesday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.24. Aflac has a 1-year low of $51.28 and a 1-year high of $66.97. The firm has a market capitalization of $42.17 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 2.49 and a beta of 0.94. The stock has a fifty day simple moving average of $63.17 and a 200 day simple moving average of $59.46.
In other news, SVP Albert Riggieri sold 1,687 shares of Aflac stock in a transaction that occurred on Tuesday, March 29th. The stock was sold at an average price of $65.05, for a total transaction of $109,739.35. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Masatoshi Koide sold 22,886 shares of Aflac stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $64.23, for a total value of $1,469,967.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,993 shares of company stock worth $3,441,526. 1.10% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in AFL. Norges Bank acquired a new stake in shares of Aflac during the 4th quarter worth approximately $271,422,000. Nordea Investment Management AB lifted its position in shares of Aflac by 97.4% during the 3rd quarter. Nordea Investment Management AB now owns 2,781,634 shares of the financial services provider’s stock worth $146,898,000 after buying an additional 1,372,666 shares during the period. Renaissance Technologies LLC bought a new position in shares of Aflac during the 4th quarter worth approximately $26,468,000. State Street Corp lifted its position in shares of Aflac by 1.1% during the 4th quarter. State Street Corp now owns 33,531,471 shares of the financial services provider’s stock worth $1,957,903,000 after buying an additional 379,178 shares during the period. Finally, Guinness Asset Management LTD lifted its position in shares of Aflac by 32.6% during the 4th quarter. Guinness Asset Management LTD now owns 1,501,640 shares of the financial services provider’s stock worth $87,682,000 after buying an additional 369,258 shares during the period. 65.53% of the stock is currently owned by institutional investors.
Aflac Company Profile (Get Rating)
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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