Aflac Incorporated [NYSE: AFL] price plunged by -1.65 percent to reach at -$0.99. The company report on October 19, 2022 that Aflac Dental, Vision and Hearing Plans Now Available to Individuals Outside the Traditional Worksite.
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Aflac, a leading provider of supplemental health insurance products in the U.S., announced the launch of its new Dental, Vision and Hearing insurance plans, specifically designed for individuals and families without access to insurance through a traditional worksite.
A variety of factors play into the need for benefits options outside of the workplace. According to Pew Research, about 50% of U.S. adults 55 and older are out of the labor force due to retirement, in part because of the pandemic.1 Additionally, gig and contract work is on the rise. The most recent data shows a 33% increase in 1099-K form (indicating revenue collected outside of an employer/employee relationship) filing from 2020 to 2021.2 What’s more, 16% of Americans say they’ve earned money from an online gig platform.3.
A sum of 2243698 shares traded at recent session while its average daily volume was at 2.48M shares. Aflac Incorporated shares reached a high of $60.33 and dropped to a low of $58.92 until finishing in the latest session at $59.15.
The one-year AFL stock forecast points to a potential upside of 4.95. The average equity rating for AFL stock is currently 2.90, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Aflac Incorporated [AFL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AFL shares is $62.23 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AFL stock is a recommendation set at 2.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Aflac Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 24, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Hold. The new note on the price target was released on January 26, 2022, representing the official price target for Aflac Incorporated stock. Previously, the target price had yet another raise to $63, while Wolfe Research analysts kept a Peer Perform rating on AFL stock. On January 12, 2022, analysts increased their price target for AFL shares from 54 to 61.
The Average True Range (ATR) for Aflac Incorporated is set at 1.47, with the Price to Sales ratio for AFL stock in the period of the last 12 months amounting to 1.77. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 8.11. Price to Free Cash Flow for AFL in the course of the last twelve months was 10.57.
AFL Stock Performance Analysis:
Aflac Incorporated [AFL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.90. With this latest performance, AFL shares dropped by -1.07% in over the last four-week period, additionally sinking by -9.69% over the last 6 months – not to mention a rise of 4.80% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AFL stock in for the last two-week period is set at 50.37, with the RSI for the last a single of trading hit 50.90, and the three-weeks RSI is set at 50.08 for Aflac Incorporated [AFL]. The present Moving Average for the last 50 days of trading for this stock 60.15, while it was recorded at 59.65 for the last single week of trading, and 60.07 for the last 200 days.
Insight into Aflac Incorporated Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Aflac Incorporated [AFL] shares currently have an operating margin of +25.37. Aflac Incorporated’s Net Margin is presently recorded at +19.56.
Return on Equity for this stock inclined to 12.95, with Return on Assets sitting at 2.57.
AFL Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AFL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Aflac Incorporated go to -0.26%.
Aflac Incorporated [AFL] Insider Position Details
There are presently around $24,976 million, or 60.30% of AFL stock, in the hands of institutional investors. The top three institutional holders of AFL stocks are: VANGUARD GROUP INC with ownership of 54,800,672, which is approximately 0.529% of the company’s market cap and around 0.10% of the total institutional ownership; JAPAN POST HOLDINGS CO., LTD., holding 52,300,000 shares of the stock with an approximate value of $3.09 billion in AFL stocks shares; and BLACKROCK INC., currently with $2.52 billion in AFL stock with ownership of nearly -6.525% of the company’s market capitalization.
Positions in Aflac Incorporated stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 490 institutional holders increased their position in Aflac Incorporated [NYSE:AFL] by around 13,266,569 shares. Additionally, 538 investors decreased positions by around 26,648,321 shares, while 234 investors held positions by with 382,328,671 shares. The mentioned changes placed institutional holdings at 422,243,561 shares, according to the latest SEC report filing. AFL stock had 82 new institutional investments in for a total of 1,584,114 shares, while 84 institutional investors sold positions of 1,931,698 shares during the same period.