Aug. 21 at 9:52 AM
$AFL Wolfe Research Underperform initiation sends Aflac shares down over 4%
Wolfe Research started coverage with Underperform rating and
$103 PT, citing ~15% downside from ~
$120 levels. Analyst highlighted decelerating Japan third-sector sales failing to offset shrinking in-force book.
Noted EPS growth overly dependent on share repurchases rather than organic earnings growth.
Move coincides with ex-dividend date for
$0.61 quarterly dividend (record date Aug 19), adding mechanical pressure. Builds on Q2 2026 results (Aug 6) showing slight EPS miss, revenue decline, and yen/currency headwinds in Japan.