Vanguard Trims Aflac Stake to 8.07%, Holds 49.9M Shares
Ticker: AFL · Form: SC 13G/A · Filed: Feb 13, 2024 · CIK: 4977
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, portfolio-rebalancing, amendment
TL;DR
**Vanguard cut its Aflac stake to 8.07%, holding 49.9M shares as of Dec 29, 2023.**
AI Summary
The Vanguard Group, a major investment firm, filed an amendment (SC 13G/A) on February 13, 2024, updating its ownership in Aflac Inc. As of December 29, 2023, Vanguard reported holding 49,949,380 shares of Aflac's Common Stock, representing 8.07% of the company. This is a slight decrease from their previous reported stake, indicating a minor adjustment in their passive investment in the insurance giant. This matters to investors because Vanguard is a significant institutional holder, and changes in their position, even small ones, can signal shifts in broad market sentiment or portfolio rebalancing for a widely held stock like Aflac.
Why It Matters
This filing shows a major institutional investor, The Vanguard Group, slightly reduced its passive stake in Aflac, which could reflect minor portfolio rebalancing rather than a strong bearish signal.
Risk Assessment
Risk Level: low — The change in ownership is minor and from a passive institutional investor, indicating low risk to the company's fundamentals or stock price.
Analyst Insight
A smart investor would view this as a routine portfolio adjustment by a large institutional investor rather than a strong buy or sell signal for Aflac. It reinforces that Aflac remains a widely held stock in broad market index funds.
Key Numbers
- 49,949,380 — shares beneficially owned (The Vanguard Group's total shares in Aflac Inc.)
- 8.07% — percentage of class (The Vanguard Group's ownership percentage of Aflac's Common Stock)
- 12 — amendment number (This is the 12th amendment to the Schedule 13G filing by Vanguard for Aflac.)
Key Players & Entities
- The Vanguard Group (company) — reporting person and institutional investor
- Aflac Inc. (company) — subject company, an accident & health insurance provider
- December 29, 2023 (date) — date of event requiring the filing
- February 13, 2024 (date) — filing date of the SC 13G/A amendment
- Pennsylvania (company) — place of organization for The Vanguard Group
Forward-Looking Statements
- Vanguard will continue to hold a significant, albeit passive, stake in Aflac, reflecting its broad market index strategies. (The Vanguard Group) — high confidence, target: 2025-12-31
- Aflac's stock price will not experience significant volatility directly due to this minor adjustment by Vanguard. (Aflac Inc.) — high confidence, target: 2024-03-31
FAQ
What is the primary purpose of this SC 13G/A filing?
This SC 13G/A filing is an amendment (Amendment No. 12) by The Vanguard Group to update its beneficial ownership of Aflac Inc. Common Stock, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing, and what is their IRS Identification Number?
The reporting person is The Vanguard Group, and their I.R.S. Identification Number is 23-1945930, as stated in Item 1 of the filing.
What was The Vanguard Group's beneficial ownership percentage of Aflac Inc. Common Stock as of the event date?
As of December 29, 2023, The Vanguard Group beneficially owned 8.07% of Aflac Inc.'s Common Stock, as indicated on the cover page and Item 9 of the filing.
How many shares of Aflac Inc. Common Stock does The Vanguard Group beneficially own, and what is their sole voting power?
The Vanguard Group beneficially owns 49,949,380 shares of Aflac Inc. Common Stock. They report having 0 shares with sole voting power, as per Item 5 of the filing.
When was the 'Date of Event Which Requires Filing of this Statement' for this amendment?
The 'Date of Event Which Requires Filing of this Statement' was December 29, 2023, as specified on the first page of the Schedule 13G/A.
Filing Stats: 806 words · 3 min read · ~3 pages · Grade level 11.3 · Accepted 2024-02-13 16:56:00
Filing Documents
- tv0199-aflacinc.htm (SC 13G/A) — 11KB
- 0001104659-24-020192.txt ( ) — 13KB
(a) - Name of Issuer
Item 1(a) - Name of Issuer: Aflac Inc
(b) - Address of Issuer's Principal Executive Offices
Item 1(b) - Address of Issuer's Principal Executive Offices: 1932 Wynnton Road Columbus, GA 31999
(a) - Name of Person Filing
Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930
(b) – Address of Principal Business Office or, if none, residence
Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355
(c) – Citizenship
Item 2(c) – Citizenship: Pennsylvania
(d) - Title of Class of Securities
Item 2(d) - Title of Class of Securities: Common Stock
(e) - CUSIP Number
Item 2(e) - CUSIP Number 001055102
- Type of Filing
Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).
- Ownership
Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.
- Ownership of Five Percent or Less of a Class
Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following
- Ownership of More Than Five Percent on Behalf of Another Person
Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable
- Identification and Classification of Members of Group
Item 8 - Identification and Classification of Members of Group: Not applicable
- Notice of Dissolution of Group
Item 9 - Notice of Dissolution of Group: Not applicable
- Certification
Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration