Aflac Incorporated (NYSE:AFL) – Equities researchers at Langen Mcalenn upped their FY2017 EPS estimates for shares of Aflac in a research note issued on Monday. Langen Mcalenn analyst L. Greenberg now forecasts that the financial services provider will post earnings of $6.78 per share for the year, up from their previous forecast of $6.75. Langen Mcalenn also issued estimates for Aflac’s Q1 2018 earnings at $1.66 EPS, Q2 2018 earnings at $1.72 EPS, Q3 2018 earnings at $1.72 EPS and Q4 2018 earnings at $1.65 EPS.
Several other brokerages have also recently issued reports on AFL. Wells Fargo & Company set a $82.00 price objective on shares of Aflac and gave the company a “hold” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut shares of Aflac from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Citigroup Inc. cut shares of Aflac from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $82.00 to $77.00 in a research note on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) began coverage on shares of Aflac in a research note on Wednesday, October 18th. They set a “neutral” rating and a $88.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and set a $71.00 price objective on shares of Aflac in a research note on Tuesday, October 10th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $79.63.
WARNING: “Aflac Incorporated (AFL) to Post FY2017 Earnings of $6.78 Per Share, Langen Mcalenn Forecasts” was originally published by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another domain, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this article can be accessed at https://www.com-unik.info/2017/11/02/aflac-incorporated-afl-to-post-fy2017-earnings-of-6-78-per-share-langen-mcalenn-forecasts.html. Aflac (NYSE:AFL) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.07. Aflac had a return on equity of 12.87% and a net margin of 12.49%. The firm had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.48 billion. During the same period last year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis.
Aflac declared that its Board of Directors has approved a stock repurchase program on Tuesday, August 8th that authorizes the company to repurchase 40,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.15%. This is a positive change from Aflac’s previous quarterly dividend of $0.43. The ex-dividend date is Tuesday, November 14th. Aflac’s payout ratio is presently 24.93%.
In other news, Director Douglas Wayne Johnson sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $83.58, for a total value of $125,370.00. Following the transaction, the director now directly owns 13,733 shares in the company, valued at approximately $1,147,804.14. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Kriss Cloninger III sold 3,500 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $81.06, for a total transaction of $283,710.00. Following the completion of the transaction, the president now owns 253,196 shares in the company, valued at $20,524,067.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,209 shares of company stock worth $2,688,390. Company insiders own 3.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Bollard Group LLC lifted its holdings in shares of Aflac by 0.6% in the 2nd quarter. Bollard Group LLC now owns 2,339 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 14 shares during the last quarter. Washington Trust Bank lifted its holdings in shares of Aflac by 0.9% in the 2nd quarter. Washington Trust Bank now owns 1,704 shares of the financial services provider’s stock worth $132,000 after acquiring an additional 16 shares during the last quarter. Balentine LLC lifted its holdings in shares of Aflac by 0.3% in the 2nd quarter. Balentine LLC now owns 6,649 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 18 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Aflac by 0.4% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 7,259 shares of the financial services provider’s stock worth $564,000 after acquiring an additional 27 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of Aflac by 2.1% in the 2nd quarter. CWM LLC now owns 1,430 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 65.83% of the company’s stock.
Aflac Incorporated is a business holding company. The Company is involved in supplemental health and life insurance, which is marketed and administered through its subsidiary, American Family Life Assurance Company of Columbus (Aflac). The Company’s insurance business consists of two segments: Aflac Japan and Aflac U.S.
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