SunTrust Banks Trims AFLAC (NYSE:AFL) Target Price to $37.00

AFLAC (NYSE:AFL) had its price target reduced by SunTrust Banks from $44.00 to $37.00 in a research note released on Thursday, The Fly reports. They currently have a hold rating on the financial services provider’s stock.

A number of other research analysts also recently commented on AFL. Credit Suisse Group dropped their price objective on AFLAC from $45.00 to $35.00 and set a neutral rating on the stock in a report on Monday, April 27th. Zacks Investment Research lowered shares of AFLAC from a buy rating to a hold rating and set a $37.00 price target on the stock. in a research note on Tuesday, April 7th. Raymond James cut their price objective on shares of AFLAC from $60.00 to $50.00 and set an outperform rating on the stock in a report on Friday, April 17th. Morgan Stanley upped their target price on shares of AFLAC from $42.00 to $45.00 and gave the company an equal weight rating in a report on Wednesday. Finally, ValuEngine raised shares of AFLAC from a strong sell rating to a sell rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $44.20.

Shares of NYSE:AFL opened at $35.57 on Thursday. AFLAC has a 52 week low of $23.07 and a 52 week high of $55.07. The company’s 50 day moving average is $35.96 and its two-hundred day moving average is $39.78. The company has a market cap of $25.52 billion, a PE ratio of 8.89, a P/E/G ratio of 1.61 and a beta of 0.89. The company has a current ratio of 0.07, a quick ratio of 0.05 and a debt-to-equity ratio of 0.26.

AFLAC (NYSE:AFL) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.23. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.49 billion. AFLAC had a net margin of 13.50% and a return on equity of 11.98%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.13 earnings per share. As a group, equities research analysts expect that AFLAC will post 4.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 3.15%. AFLAC’s payout ratio is 25.23%.

A number of large investors have recently modified their holdings of AFL. Bartlett & Co. LLC purchased a new position in AFLAC during the 1st quarter worth $25,000. Marquette Asset Management LLC purchased a new position in shares of AFLAC during the first quarter worth about $27,000. CVA Family Office LLC purchased a new position in shares of AFLAC during the first quarter worth about $29,000. Wealth Quarterback LLC acquired a new position in AFLAC in the 4th quarter valued at about $48,000. Finally, Winslow Evans & Crocker Inc. raised its stake in AFLAC by 250.0% during the 1st quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 750 shares during the last quarter. Hedge funds and other institutional investors own 67.27% of the company’s stock.

About AFLAC

Aflac Incorporated, through its subsidiaries, provides voluntary supplemental health and life insurance products. It operates through two segments, Aflac Japan and Aflac U.S. The Aflac Japan segment offers voluntary supplemental insurance products, including cancer plans, general medical indemnity plans, medical/sickness riders, care plans, living benefit life plans, ordinary life insurance plans, and annuities in Japan.

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