AFLAC Incorporated (NYSE:AFL) was downgraded by research analysts at FBR & Co. from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, The Fly reports. They presently have a $68.00 price objective on the stock, down from their prior price objective of $71.00. FBR & Co.’s target price points to a potential downside of 0.93% from the company’s current price.
In related news, insider Hiroshi Yamauchi sold 19,250 shares of the stock in a transaction on Wednesday, March 9th. The shares were sold at an average price of $60.43, for a total transaction of $1,163,277.50. Following the sale, the insider now directly owns 88,738 shares of the company’s stock, valued at $5,362,437.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles D. Lake II sold 17,791 shares of the stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $68.48, for a total transaction of $1,218,327.68. Following the sale, the insider now directly owns 46,547 shares in the company, valued at $3,187,538.56. The disclosure for this sale can be found here.
Source: American Banking and Market News