National Pension Service Cuts Stock Holdings in Aflac Incorporated $AFL

by · The Cerbat Gem

National Pension Service lowered its stake in shares of Aflac Incorporated (NYSE:AFL – Free Report) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 789,021 shares of the financial services provider’s stock after selling 18,409 shares during the quarter. National Pension Service’s holdings in Aflac were worth $92,513,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AFL. California State Teachers Retirement System grew its stake in shares of Aflac by 11,094.0% in the 2nd quarter. California State Teachers Retirement System now owns 86,458,157 shares of the financial services provider’s stock worth $10,137,219,000 after acquiring an additional 85,685,796 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Aflac in the second quarter valued at about $4,093,787,000. Norges Bank bought a new position in shares of Aflac during the fourth quarter valued at about $420,078,000. Legal & General Group Plc bought a new position in shares of Aflac during the second quarter valued at about $404,639,000. Finally, Bank of New York Mellon Corp purchased a new position in Aflac during the second quarter worth about $298,418,000. 67.44% of the stock is currently owned by institutional investors.

Aflac News Summary

Here are the key news stories impacting Aflac this week:

  • Positive Sentiment: Aflac highlighted that its more than 30-year commitment to childhood cancer and sickle cell disease support has surpassed $200 million in contributions. The milestone reinforces Aflac’s brand and corporate reputation, although it is unlikely to materially affect near-term earnings. Aflac commemorates National Childhood Cancer and Sickle Cell Disease Awareness Month
  • Neutral Sentiment: At the KBW Insurance Conference 2026, Aflac management discussed the company with investors. The event could offer perspective on business trends, capital allocation and future growth, but the available transcript listing does not indicate a specific forecast change or new catalyst. Aflac Presents at KBW Insurance Conference 2026 Transcript
  • Neutral Sentiment: Aflac’s most recent quarterly results were mixed: revenue of $4.22 billion exceeded expectations, while earnings of $1.75 per share narrowly missed the $1.76 consensus and declined from $1.78 a year earlier. The company continues to provide a $0.61 quarterly dividend, equivalent to a $2.44 annualized payout and an approximate 2.1% yield.
  • Negative Sentiment: Japan Post Holdings, Aflac’s major shareholder, disclosed another sale of 13,600 shares for approximately $1.57 million, following sales of 15,000 shares and 20,000 shares in earlier transactions. The trades were made under a pre-arranged Rule 10b5-1 plan and reduced its stake by only 0.03%–0.04% each, limiting the fundamental impact but potentially weighing on investor sentiment. Japan Post Holdings Aflac share sale filing
  • Negative Sentiment: Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target near $116.62. This suggests limited perceived upside and may amplify the effect of shareholder selling, particularly while Aflac trades near the upper end of its recent valuation range.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AFL. Piper Sandler reaffirmed an “overweight” rating and issued a $138.00 price objective (up from $130.00) on shares of Aflac in a research report on Monday, August 10th. JPMorgan Chase & Co. reduced their price target on shares of Aflac from $117.00 to $116.00 and set a “neutral” rating for the company in a research report on Tuesday, August 11th. Wall Street Zen downgraded Aflac from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Barclays reissued an “underweight” rating and issued a $99.00 price target (up from $98.00) on shares of Aflac in a research report on Friday, August 7th. Finally, Wolfe Research assumed coverage on Aflac in a research note on Wednesday, August 19th. They issued an “underperform” rating and a $103.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Aflac has a consensus rating of “Hold” and a consensus target price of $116.62.

Get Our Latest Stock Report on Aflac

Aflac Stock Down 0.3%

AFL opened at $114.42 on Friday. The business’s fifty day simple moving average is $121.19 and its 200 day simple moving average is $116.32. The stock has a market cap of $57.36 billion, a PE ratio of 12.26, a P/E/G ratio of 1.85 and a beta of 0.59. Aflac Incorporated has a 52 week low of $105.43 and a 52 week high of $130.22. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.29.

Aflac (NYSE:AFL – Get Free Report) last issued its earnings results on Thursday, August 6th. The financial services provider reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.01). The firm had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.11 billion. Aflac had a return on equity of 13.27% and a net margin of 26.91%.The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.78 EPS. As a group, research analysts expect that Aflac Incorporated will post 7.04 earnings per share for the current fiscal year.

Aflac Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Wednesday, August 19th were issued a $0.61 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $2.44 annualized dividend and a dividend yield of 2.1%. Aflac’s payout ratio is currently 26.15%.

Insiders Place Their Bets

In other Aflac news, major shareholder Post Holdings Co. Ltd. Japan sold 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $115.44, for a total value of $1,569,984.00. Following the completion of the sale, the insider owned 50,639,090 shares in the company, valued at approximately $5,845,776,549.60. The trade was a 0.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 375,815 shares of company stock valued at $44,190,500 in the last ninety days. Insiders own 0.80% of the company’s stock.

Aflac Company Profile

(Free Report)

Aflac Incorporated is an insurance company that provides supplemental health and life insurance products. Its coverage is designed to help policyholders manage expenses that may not be fully covered by major medical insurance, including costs associated with accidents, illness, hospitalization, disability and critical illness.

Through its U.S. operations, Aflac markets policies to individuals, businesses and employees through workplace benefit programs, independent agents and brokers. The company is also a major provider of supplemental insurance in Japan, where it offers products focused primarily on cancer, medical and income-support coverage.

Founded in 1955 in Columbus, Georgia, as American Family Life Assurance Company, the business adopted the name Aflac in 1990.

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