Aflac (NYSE:AFL) Price Target Cut to $102.00 by Analysts at Wells Fargo & Company

Aflac (NYSE:AFL) had its price objective reduced by research analysts at Wells Fargo & Company from $104.00 to $102.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 2.21% from the company’s current price.

A number of other research analysts also recently weighed in on AFL. Keefe, Bruyette & Woods lowered their price target on Aflac from $107.00 to $104.00 and set a “market perform” rating on the stock in a report on Wednesday, February 12th. Piper Sandler lowered their price target on Aflac from $122.00 to $118.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. StockNews.com raised Aflac from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Barclays reduced their price objective on Aflac from $98.00 to $95.00 and set an “underweight” rating for the company in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Aflac from $90.00 to $94.00 and gave the company a “neutral” rating in a research report on Tuesday, January 7th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $102.86.

Aflac Stock Performance

Shares of NYSE AFL opened at $104.31 on Wednesday. The company has a quick ratio of 0.08, a current ratio of 0.10 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $57.95 billion, a price-to-earnings ratio of 10.87, a PEG ratio of 3.30 and a beta of 0.99. The stock’s fifty day simple moving average is $104.16 and its 200 day simple moving average is $107.26. Aflac has a 52-week low of $78.60 and a 52-week high of $115.50.

Aflac (NYSE:AFL) last issued its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.07). Aflac had a net margin of 28.76% and a return on equity of 16.20%. As a group, sell-side analysts forecast that Aflac will post 6.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Audrey B. Tillman sold 24,744 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $103.40, for a total transaction of $2,558,529.60. Following the completion of the transaction, the executive vice president now owns 222,618 shares of the company’s stock, valued at approximately $23,018,701.20. The trade was a 10.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Aflac

Several institutional investors and hedge funds have recently added to or reduced their stakes in AFL. Whipplewood Advisors LLC bought a new position in Aflac during the fourth quarter valued at about $26,000. Darwin Wealth Management LLC bought a new position in Aflac during the third quarter valued at about $34,000. BankPlus Trust Department bought a new position in Aflac during the fourth quarter valued at about $34,000. Curio Wealth LLC bought a new position in Aflac during the fourth quarter valued at about $36,000. Finally, Raelipskie Partnership bought a new position in Aflac during the third quarter valued at about $38,000. 67.44% of the stock is currently owned by institutional investors.

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.