Morgan Stanley Maintains Equal Weight Rating on Aflac (AFL)

Core Insights - Aflac Incorporated (NYSE:AFL) is recognized as one of the 15 Best Boring Dividend Stocks to Buy, highlighting its stable investment appeal [1] - Morgan Stanley has raised its price target for Aflac from $113 to $118 while maintaining an Equal Weight rating, indicating a cautious but positive outlook on the stock [2] - Aflac announced a 5% increase in its quarterly dividend to $0.61 per share, marking the 43rd consecutive year of dividend increases, showcasing its strong underwriting discipline and financial health [3][4] Financial Performance - The company has reduced its share count by approximately 38% over the past decade through substantial capital allocation to buybacks [3] - Aflac's dividend payout ratio is under 33% of projected 2025 earnings, suggesting room for continued dividend growth [4] - Analysts project Aflac's earnings to grow at about 5% annually in the coming years, supporting its dividend strategy [4] Management Commentary - Aflac's CEO, Daniel P. Amos, emphasized the importance of maintaining strong capital ratios while balancing financial strength with tactical capital deployment [4]