Morgan Stanley Boosts Aflac (NYSE:AFL) Price Target to $118.00

Aflac (NYSE:AFL) had its target price upped by equities researchers at Morgan Stanley from $113.00 to $118.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 3.41% from the stock’s previous close.

A number of other analysts also recently commented on the company. Evercore ISI upped their price objective on Aflac from $110.00 to $111.00 and gave the stock an “underperform” rating in a report on Friday, November 7th. Wall Street Zen raised Aflac from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods raised their price objective on Aflac from $108.00 to $110.00 and gave the stock a “market perform” rating in a report on Thursday, October 9th. Wells Fargo & Company boosted their target price on Aflac from $107.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, November 7th. Finally, Barclays reissued an “underweight” rating and set a $104.00 target price (up previously from $102.00) on shares of Aflac in a research report on Wednesday, November 5th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $111.00.

Aflac Trading Down 0.2%

Shares of AFL stock traded down $0.23 during trading hours on Monday, hitting $114.11. 299,536 shares of the company were exchanged, compared to its average volume of 2,182,159. The firm has a fifty day moving average of $109.71 and a 200 day moving average of $105.91. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.33. Aflac has a 1 year low of $96.95 and a 1 year high of $115.83. The firm has a market cap of $59.81 billion, a PE ratio of 25.89, a PEG ratio of 2.93 and a beta of 0.83.

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

Aflac declared that its board has approved a stock repurchase program on Tuesday, August 12th that authorizes the company to buyback 100,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at Aflac

In other news, Director Joseph L. Moskowitz sold 1,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $114.00, for a total value of $114,000.00. Following the completion of the transaction, the director directly owned 23,615 shares in the company, valued at approximately $2,692,110. This represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Frederic Jean Guy Simard sold 1,722 shares of Aflac stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $112.50, for a total transaction of $193,725.00. Following the sale, the executive vice president directly owned 1,364 shares in the company, valued at $153,450. This trade represents a 55.80% decrease in their position. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by company insiders.

Institutional Trading of Aflac

Several large investors have recently modified their holdings of the business. True Wealth Design LLC boosted its holdings in Aflac by 188.5% in the third quarter. True Wealth Design LLC now owns 225 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Aflac in the 2nd quarter valued at approximately $26,000. Chilton Capital Management LLC acquired a new position in shares of Aflac in the 2nd quarter valued at approximately $26,000. Whipplewood Advisors LLC boosted its stake in shares of Aflac by 1,526.7% during the 2nd quarter. Whipplewood Advisors LLC now owns 244 shares of the financial services provider’s stock valued at $26,000 after buying an additional 229 shares during the last quarter. Finally, AlphaCore Capital LLC acquired a new stake in shares of Aflac during the first quarter worth approximately $28,000. 67.44% of the stock is currently owned by institutional investors and hedge funds.

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.