FY2023 EPS Estimates for Aflac Incorporated (NYSE:AFL) Boosted by Zacks Research

Posted by Defense World Staff on Oct 9th, 2023

Aflac Incorporated (NYSE:AFL – Free Report) – Analysts at Zacks Research raised their FY2023 EPS estimates for shares of Aflac in a research note issued to investors on Friday, October 6th. Zacks Research analyst K. Dey now expects that the financial services provider will earn $5.93 per share for the year, up from their previous forecast of $5.88. The consensus estimate for Aflac’s current full-year earnings is $6.01 per share. Zacks Research also issued estimates for Aflac’s Q4 2023 earnings at $1.38 EPS, Q1 2024 earnings at $1.51 EPS, Q4 2024 earnings at $1.54 EPS, Q1 2025 earnings at $1.61 EPS and FY2025 earnings at $6.46 EPS.

Several other brokerages also recently commented on AFL. Raymond James increased their price objective on shares of Aflac from $77.00 to $83.00 and gave the company an “outperform” rating in a research note on Tuesday, September 26th. Citigroup upped their price target on shares of Aflac from $69.00 to $76.00 and gave the company a “neutral” rating in a research report on Wednesday, August 9th. Morgan Stanley cut shares of Aflac from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $74.00 to $75.00 in a research report on Friday, August 18th. Jefferies Financial Group upped their price target on shares of Aflac from $70.00 to $74.00 and gave the company a “hold” rating in a research report on Thursday, September 14th. Finally, Wells Fargo & Company upped their price target on shares of Aflac from $71.00 to $78.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 15th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $76.36.

View Our Latest Analysis on AFL

Aflac Price Performance

Shares of NYSE:AFL opened at $77.60 on Monday. The company has a market cap of $46.10 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 2.35 and a beta of 0.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.07 and a quick ratio of 0.07. The firm has a 50 day simple moving average of $75.69 and a 200 day simple moving average of $70.40. Aflac has a one year low of $56.26 and a one year high of $78.43.

Aflac (NYSE:AFL – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $1.58 EPS for the quarter, beating the consensus estimate of $1.42 by $0.16. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $4.52 billion. Aflac had a net margin of 24.48% and a return on equity of 16.10%.

Aflac Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Wednesday, August 23rd were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date was Tuesday, August 22nd. Aflac’s payout ratio is 22.46%.

Insiders Place Their Bets

In other Aflac news, insider Virgil Raynard Miller sold 2,626 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $77.08, for a total value of $202,412.08. Following the completion of the sale, the insider now directly owns 2,181 shares in the company, valued at $168,111.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Aflac news, insider Virgil Raynard Miller sold 2,626 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $77.08, for a total value of $202,412.08. Following the completion of the sale, the insider now directly owns 2,181 shares in the company, valued at $168,111.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph L. Moskowitz sold 500 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $76.47, for a total transaction of $38,235.00. Following the completion of the sale, the director now owns 26,598 shares of the company’s stock, valued at $2,033,949.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,170 shares of company stock worth $2,289,435. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Sound View Wealth Advisors Group LLC increased its position in Aflac by 0.4% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 37,453 shares of the financial services provider’s stock valued at $2,614,000 after purchasing an additional 141 shares during the period. Foundations Investment Advisors LLC grew its position in shares of Aflac by 4.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,888 shares of the financial services provider’s stock worth $298,000 after buying an additional 151 shares during the period. Valmark Advisers Inc. grew its position in shares of Aflac by 0.7% in the 1st quarter. Valmark Advisers Inc. now owns 23,179 shares of the financial services provider’s stock worth $1,495,000 after buying an additional 153 shares during the period. Hanlon Investment Management Inc. grew its position in shares of Aflac by 3.1% in the 2nd quarter. Hanlon Investment Management Inc. now owns 5,219 shares of the financial services provider’s stock worth $364,000 after buying an additional 155 shares during the period. Finally, Good Life Advisors LLC grew its position in shares of Aflac by 0.6% in the 1st quarter. Good Life Advisors LLC now owns 24,699 shares of the financial services provider’s stock worth $1,594,000 after buying an additional 159 shares during the period. 66.75% of the stock is owned by institutional investors.

Aflac Company Profile

(Get Free Report)

Aflac Incorporated, through its subsidiaries, provides supplemental health and life insurance products. It operates in two segments, Aflac Japan and Aflac U.S. 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.