TD Cowen Reviews Aflac (AFL) Ahead of Q4 Life Insurance Preview

Aflac Incorporated (NYSE:AFL) is included among the Dividend Growth Stocks: 25 Aristocrats.

On January 28, TD Cowen trimmed its price target on Aflac Incorporated (NYSE:AFL) to $100 from $102 and kept a Hold rating. The change was part of a broader fourth-quarter preview across the life insurance group. TD Cowen said it expects a modest headwind from lower returns on alternative investments but continues to take a balanced view on the sector overall.

Separately, Aflac has been dealing with the fallout from a major cybersecurity incident. In June, the company disclosed that hackers had gained access to customer data, though it initially said it was unclear how many people were affected. By December, Aflac confirmed that the breach involved information tied to about 22.65 million individuals.

A filing with the Texas Attorney General detailed the scope of the stolen data, which included customer names, dates of birth, home addresses, government-issued ID numbers, Social Security numbers, driver’s license details, and medical and health insurance information, according to TechCrunch. Aflac said it has begun notifying affected customers and is outlining the support and resources available to them as part of its response.

The company said in a statement:

“To date, Aflac is not aware of any fraudulent use of personal information and — along with third-party partners — will continue to monitor any fraudulent activity.”

Aflac Incorporated (NYSE:AFL) provides supplemental insurance and financial protection products through its subsidiaries, with operations primarily focused in the United States and Japan.

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