Transaction details
Japan Post Holdings Co., Ltd., identified as holding roughly ten percent of Aflac Inc., disclosed on a March 13, 2026 Form 4 filing with the Securities and Exchange Commission that it sold a total of 17,300 shares of Aflac common stock. The aggregate proceeds from the transactions were $1.89 million.
The disposition occurred in two tranches with differing price characteristics. A bulk of the sale - 15,943 shares - cleared at a weighted average price of $109.06, with individual execution prices spanning $108.71 to $109.71. The remaining 1,457 shares transacted at a weighted average of $110.02, within a price range of $109.72 to $110.62. Across both tranches the reported per-share prices ranged from $109.06 to $110.02 as weighted averages, and the per-share execution windows are as noted above.
Following these sales, Japan Post Holdings' direct ownership in Aflac stands at 52,132,700 shares.
Market context and valuation
At the time of reporting, Aflac shares are trading near $109.11 and the company carries a market capitalization of $56.34 billion. An InvestingPro analysis referenced in the filing indicates the stock is trading above its Fair Value estimate.
The insurer continues to return capital to shareholders via dividends: the reported dividend yield is 2.24%, and the company is noted to have increased its dividend for 42 consecutive years, per InvestingPro Tips.
Recent financial results and analyst view
Aflac's fourth-quarter 2025 results were mixed. Earnings per share came in at $1.57, below the consensus expectation of $1.70, a shortfall the filing quantifies as a 7.65% surprise to the downside. Conversely, the company posted revenue of $4.87 billion, beating the $4.28 billion forecast and representing a 13.79% upside surprise.
On the sell-side, Mizuho adjusted its price target on Aflac to $107.00 from $104.00 while keeping an Underperform rating. The modest 3% increase in the target was characterized as a valuation roll-forward; Mizuho's published outlook still implies a -6% expected return for the stock under its assumptions.
What this means
The publicly filed sale by a significant institutional holder reduces that holder's exposure modestly and occurs against a backdrop of company results that show stronger-than-expected top-line performance but weaker-than-expected per-share earnings. The stock's trading level relative to InvestingPro's Fair Value estimate and the retained Underperform view from an analyst provide context for how the market and some analysts are assessing Aflac's near-term outlook.
Summary of facts
- Seller: Japan Post Holdings Co., Ltd., a ten-percent owner of Aflac.
- Filed sale date: March 13, 2026 (Form 4).
- Shares sold: 17,300; proceeds: $1.89 million.
- Price details: 15,943 shares at weighted average $109.06 (range $108.71 - $109.71); 1,457 shares at weighted average $110.02 (range $109.72 - $110.62).
- Post-sale direct holding: 52,132,700 Aflac shares.
- Market snapshot: share price near $109.11; market cap $56.34 billion; dividend yield 2.24%; 42 consecutive years of dividend increases.
- Recent results: Q4 2025 EPS $1.57 vs. $1.70 estimate (7.65% downside surprise); revenue $4.87 billion vs. $4.28 billion estimate (13.79% upside surprise).
- Analyst note: Mizuho raised target to $107.00 from $104.00 but maintained an Underperform rating and expects a -6% return.