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Evercore ISI downgrades Aflac Inc. (AFL) stock to an Underperform

Aflac Inc.’s recently made public that its Director KENNY THOMAS J unloaded Company’s shares for reported $0.42 million on Mar 20 ’24. In the deal valued at $84.62 per share,5,000 shares were sold. As a result of this transaction, KENNY THOMAS J now holds 17,920 shares worth roughly $1.5 million.

Then, RIGGIERI ALBERT sold 8,000 shares, generating $666,760 in total proceeds. Upon selling the shares at $83.34, the SVP, Global CRO now owns 32,825 shares.

Before that, Collins Arthur Reginald sold 3,000 shares. Aflac Inc. shares valued at $239,199 were divested by the Director at a price of $79.73 per share. As a result of the transaction, Collins Arthur Reginald now holds 5,592 shares, worth roughly $0.47 million.

Evercore ISI downgraded its Aflac Inc. [AFL] rating to an Underperform from a an In-line in a research note published on January 04, 2024; the price target was increased to $78 from $76. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who decreased its forecast for the stock in mid August from “an Overweight” to “an Equal-weight”. Wells Fargo started covering the stock on April 25, 2023. It rated AFL as “an Equal weight”.

Price Performance Review of AFL

On Tuesday, Aflac Inc. [NYSE:AFL] saw its stock fall -1.05% to $83.65. Over the last five days, the stock has lost -0.12%. Aflac Inc. shares have risen nearly 1.39% since the year began. Nevertheless, the stocks have risen 19.76% over the past one year. While a 52-week high of $86.26 was reached on 03/28/24, a 52-week low of $64.10 was recorded on 02/01/24. SMA at 50 days reached $82.75, while 200 days put it at $79.77. A total of 2.36 million shares were traded, compared to the trading of 2.0 million shares in the previous session.

Levels Of Support And Resistance For AFL Stock

The 24-hour chart illustrates a support level at 83.35, which if violated will result in even more drops to 83.06. On the upside, there is a resistance level at 84.22. A further resistance level may holdings at 84.80. The Relative Strength Index (RSI) on the 14-day chart is 53.03, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.64, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 20.95%. Stochastics %K at 81.60% indicates the stock is a selling.

The most recent change occurred on May 24, 2022 when Citigroup began covering the stock and recommended ‘”a Neutral”‘ rating along with a $60 price target.

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