NEW YORK (TheStreet) -- Shares of Aflac (AFL) - Get Free Report are down -3.48% to $60.94 as the largest seller of supplemental health insurance said new annualized premium sales in the U.S. fell 8.2% in the second quarter to $334 million. In Japan, its biggest market sales declined 7.7%, Bloomberg reports.
The company said that reflecting the weaker yen/dollar exchange rate, total revenues fell 3.4% to $5.8 billion during the quarter, compared with $6 billion in the second quarter of 2013. Net earnings were $810 million, or $1.78 per diluted share, compared with $889 million, or $1.90 per share, a year ago.
Net earnings in the second quarter of 2014 included after-tax net realized investment gains of $60 million, or 13 cents per diluted share, compared with net after-tax gains of $130 million, or 28 cents per diluted share, a year ago.
TheStreet Ratings team rates AFLAC INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate AFLAC INC (AFL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."