Aflac is trading 4.1% down now at $116.12 after Wolfe Research initiated coverage on August 19, 2026, with an Underperform rating.
- The $103 target implies roughly 15% downside; Wolfe cited weak Japan growth, a shrinking in-force base, and reliance on buybacks.
- The stock is ex-dividend for its $0.61 quarterly payout, mechanically pressuring the share price.
- The broader market is modestly higher, making the decline appear primarily company-specific.