Midwest Trust 13F: Cuts Aflac (AFL) Stake by $7.4M
Key Points
- Midwest Trust reduced its holdings in Aflac Incorporated by 66,179 shares, leaving it with 81,412 shares valued at $9,100,233.
- Aflac Incorporated shares closed at $123.27 on October 22, 2026, resting below the 52-week high of $130.22 and well above its 52-week low of $105.43.
- The insurer carries a trailing-twelve-month EPS of $9.30 and provides an annual dividend rate of $2.44 per share, with the next earnings report slated for November 4, 2026.
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Midwest Trust lowered its stake in Aflac Incorporated by 44.8% during the period, selling 66,179 shares to finish with 81,412 shares worth about $9.1 million. According to a Form 13F filed with the SEC on October 22, 2026, the prior holding stood at 147,591 shares.
AFL
Aflac Incorporated
What Changed in Midwest Trust's Aflac Position
The reduction left Midwest Trust holding 81,412 shares of the insurer. The remaining stake carried a reported value of $9,100,233 at the close of the filing period.
Other Institutional Activity in Aflac
Japan Post Holdings Co., Ltd. reduced its holdings by 1,075,869 shares, ending with 50,898,490 shares worth about $6.27 billion. Wells Fargo & Company cut its position by 1,912,483 shares, leaving it with 8,636,237 shares valued at roughly $1.06 billion.
Aflac Incorporated Stock Up 2.6%
Aflac shares closed at $123.27 on October 22, 2026, and recently traded around that same $123.27 level. The stock sits below its 52-week high of $130.22 and above its 52-week low of $105.43. It trades above both its 50-day moving average of $116.42 and its 200-day moving average of $115.50.
Recent Earnings
Aflac reported trailing-twelve-month revenue of $18.07 billion and an EPS of $9.30. The company generated a net profit margin of 26.9% alongside a return on equity of 16.9%. The next earnings report is scheduled for November 4, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
2 target raises vs 2 cuts.
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EPS & revenue
EPS missed estimates by 4.4%. Revenue beat estimates by 1.1%.
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Profit surprise
Operating income beat by 13 percent.
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Pre-earnings setup
Bar was low, analysts cautious going in.
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Analyst signal
2 target raises, 2 target cuts.
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Earnings quality
Gross margin up 43.4 points. Operating margin up 24.2 points.
Earnings Call Summary
Aflac Japan delivered strong sales growth of 25.5 percent in the quarter, driven by new medical and cancer insurance products, though underlying earned premiums still declined 1.3 percent due to lapses of paid-up policies. In the United States, net earned premiums grew 3.5 percent with solid persistency of 79.3 percent. Management noted that Japan would need about 80 billion yen in annual sales to reach flat earned premium growth, versus 74 billion achieved in 2025.
Guidance Aflac expects Japan benefit ratio between 60 percent and 63 percent for the full year, roughly in line with first quarter results. For the United States, they forecast a benefit ratio of 42 percent to 52 percent. The company plans to continue share buybacks and dividend increases, returning $1.3 billion to shareholders in the first quarter alone.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Dividend
Aflac pays an annual dividend of $2.44 per share, giving the stock a dividend yield of 1.98%. The payout ratio sits at 25.6%.
Insider Buying and Selling at Aflac Incorporated
Japan Post Holdings Co. executed four sales during October. It sold 12,000 shares for $1,376,672 on October 9, followed by 12,200 shares for $1,413,426 on October 12. The firm then sold 42,000 shares for $4,887,764 on October 13 and 113,611 shares for $13,465,866 on October 15.
Analysts Set New Price Targets
On October 7, Mizuho maintained its Underperform rating while lowering its target from $116.00 to $107.00. On the same day, Barclays kept an Underweight rating and raised its target from $99.00 to $101.00. Keefe, Bruyette & Woods maintained a Market Perform rating on October 9, trimming its target from $125.00 to $120.00. Wells Fargo maintained an Equal-Weight rating on October 12, lowering its target from $122.00 to $116.00. JP Morgan maintained a Neutral rating on October 15, adjusting its target from $116.00 to $119.00. Overall, the stock holds a consensus hold rating from 15 analysts with a mean price target of $117.33.
About Aflac
Aflac Incorporated provides supplemental health and life insurance products through its operations in Japan and the United States. Its product lineup includes cancer, medical, and whole life policies that cater to individual policyholders seeking coverage beyond standard health plans. Institutional adjustments and insider trades arrive as market participants monitor the insurer's valuation relative to its historical price range.
Bottom Line
Investors will look ahead to Aflac's upcoming earnings report on November 4, 2026, for further updates on financial performance. Future institutional filings will show whether other large funds continue to adjust their holdings in the insurer.
Related Filing Alerts
Source: Midwest Trust's 13F filing on $AFL (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts