Aflac stock down 14 percent on ‘sell’ rating

Shares of Aflac plunged more than 14 percent Monday following an analyst’s downgrade of the Columbus-based supplemental insurer.

The downgrade to “sell,” by UBS insurance analyst Andrew Kligerman, follows a downgrade last week by Fitch Ratings. The agency lowered Aflac’s default rating to “A+” from “AA-“.

Aflac shares, which have fallen more than 80 percent in the last year, closed Monday at $11.49 — lows not seen since 1997.

The company’s shares are under pressure because its two markets, Japan and the United States, are in recession, it’s suffering the general investor pullback from the insurance and financial sectors and because it holds a sizable amount of hybrid debt securities issued by European banks.