Business

Aflac shares down 12.5 percent since December high mark

Aflac Chairman and Chief Executive Officer Dan Amos
Aflac Chairman and Chief Executive Officer Dan Amos Ledger-Enquirer file photo

The third day wasn’t a charm for investors holding shares of Aflac.

The Columbus-based insurer’s stock dropped once again Friday following its second-quarter earnings report earlier in the week laying out plans to restructure the company’s U.S. sales operation.

Shares fell 62 cents, or 1 percent, closing at $59.12 apiece Friday in trading on the New York Stock Exchange. That was a decent recovery after they plunged to $58.50 as trading opened in the morning. They had closed at $59.74 on Thursday.

The supplemental health and life insurer’s stock is now down 12.5 percent since reaching its 52-week high of $67.62 per share on Dec. 30.

The company issued its quarterly earnings data Tuesday after the markets’ close, posting an $810 million profit but saying U.S. premium sales will be down in the final six months of 2014.

On Wednesday, shares dropped $1.76, followed by $1.64 on Thursday and 62 cents Friday. A week ago, on July 25, Aflac shares touched an intra-day trading high of $64.11. They have lost a penny shy of $5 per share since then.

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