AFLAC INC AFL
COM · Common Stock · CUSIP 001055102 · ISIN US0010551028
Largest provider of supplemental insurance in the United States
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($157.6m this quarter). Holder counts are more reliable. Shares outstanding: 560.0m as of 2024-07-24, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $89.13. Options: 35 managers hold calls ($362.0m notional), 36 hold puts ($194.5m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 1,184 |
| Q4 2022 | 1,304 |
| Q1 2023 | 1,261 |
| Q2 2023 | 1,276 |
| Q3 2023 | 1,313 |
| Q4 2023 | 1,420 |
| Q1 2024 | 1,422 |
| Q2 2024 | 1,449 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 543 | 526 |
| Q1 2023 | 510 | 596 |
| Q2 2023 | 527 | 550 |
| Q3 2023 | 500 | 589 |
| Q4 2023 | 549 | 567 |
| Q1 2024 | 553 | 658 |
| Q2 2024 | 605 | 613 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $389.9m | $297.6m | 0.76 |
| Q4 2023 | $420.5m | $380.7m | 0.91 |
| Q1 2024 | $340.0m | $224.3m | 0.66 |
| Q2 2024 | $362.0m | $194.5m | 0.54 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +5.4m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +1.2m |
| GOLDMAN SACHS GROUP INC | Added | +699.0k |
| Strategic Financial Concepts, LLC | Added | +658.3k |
| TRUIST FINANCIAL CORP | Added | +405.8k |
| MILLENNIUM MANAGEMENT LLC | Added | +388.9k |
| JANE STREET GROUP, LLC | Added | +384.0k |
| DIMENSIONAL FUND ADVISORS LP | Added | +285.6k |
| ENVESTNET ASSET MANAGEMENT INC | Added | +268.7k |
| AEGON ASSET MANAGEMENT UK Plc | Added | +194.2k |
Biggest sellers
| MORGAN STANLEY | Reduced | -16.7m |
| FIRST TRUST ADVISORS LP | Reduced | -2.1m |
| BlackRock Inc. | Reduced | -1.0m |
| VANGUARD GROUP INC | Reduced | -533.6k |
| Robeco Institutional Asset Management B.V. | Reduced | -523.5k |
| UBS Group AG | Reduced | -416.7k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -338.2k |
| Invesco Ltd. | Reduced | -325.8k |
| LSV ASSET MANAGEMENT | Reduced | -311.1k |
| BARCLAYS PLC | Reduced | -302.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $65.5m732.9k shares |
| CITADEL ADVISORS LLC | Reduced | $44.4m497.5k shares |
| JANE STREET GROUP, LLC | Added | $41.1m460.0k shares |
| Twin Tree Management, LP | New | $38.3m429.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $37.4m418.9k shares |
| WOLVERINE TRADING, LLC | Reduced | $15.7m176.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $14.0m157.2k shares |
| Walleye Trading LLC | Added | $11.2m125.6k shares |
| Walleye Capital LLC | Reduced | $10.3m115.8k shares |
| GROUP ONE TRADING LLC | Added | $8.2m91.8k shares |
Biggest puts
| JANE STREET GROUP, LLC | Reduced | $25.0m280.2k shares |
| CITADEL ADVISORS LLC | Reduced | $24.5m274.3k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $12.5m140.5k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $12.1m135.9k shares |
| Walleye Capital LLC | Reduced | $10.5m118.0k shares |
| Walleye Trading LLC | Reduced | $10.3m114.9k shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $10.2m1.1k shares |
| Parallax Volatility Advisers, L.P. | Reduced | $8.9m99.3k shares |
| UBS Group AG | Reduced | $8.7m97.1k shares |
| GARDA CAPITAL PARTNERS LP | Added | $7.6m85.0k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Japan Post Holdings Co., Ltd. 13G · passive investor no change · filed 2026-08-14 | 10.2% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 6.8% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2022 | 0 | — | 4 | $2.3m | — |
| Q4 2022 | 0 | — | 6 | $5.0m | — |
| Q1 2023 | 0 | — | 3 | $3.0m | — |
| Q2 2023 | 0 | — | 5 | $7.6m | $32.2k |
| Q3 2023 | 0 | — | 5 | $2.3m | $34.8k |
| Q4 2023 | 0 | — | 7 | $14.9m | $38.2k |
| Q1 2024 | 2 | $191.3k | 8 | $9.0m | $5.1m |
| Q2 2024 | 0 | — | 2 | $2.0m | $50.9k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-05-21 | LAKE CHARLES D II Chairman & Rep. Director, ALIJ | Sold | $2.0m22.4k shares |
| 2024-05-08 | MOSKOWITZ JOSEPH L Director | Sold plan | $50.9k600 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| Japan Post Holdings Co., Ltd. 100.00% of their portfolio | 52.3m $4.7bn | Unchanged |
| VANGUARD GROUP INC 0.09% of their portfolio | 51.2m $4.6bn | Reduced -533.6k |
| BlackRock Inc. 0.08% of their portfolio | 40.1m $3.6bn | Reduced -1.0m |
| STATE STREET CORP 0.10% of their portfolio | 25.8m $2.3bn | Reduced -15.9k |
| WELLS FARGO & COMPANY/MN 0.37% of their portfolio | 16.1m $1.4bn | Reduced -221.4k |
| JPMORGAN CHASE & CO 0.06% of their portfolio | 14.6m $1.3bn | Added +5.4m |
| GEODE CAPITAL MANAGEMENT, LLC 0.10% of their portfolio | 12.4m $1.1bn | Added +3.9k |
| MORGAN STANLEY 0.07% of their portfolio | 9.7m $867.8m | Reduced -16.7m |
| NORTHERN TRUST CORP 0.10% of their portfolio | 6.4m $570.8m | Reduced -168.5k |
| DIMENSIONAL FUND ADVISORS LP 0.11% of their portfolio | 4.8m $429.3m | Added +285.6k |
| ALLIANCEBERNSTEIN L.P. 0.15% of their portfolio | 4.8m $429.0m | Reduced -152.1k |
| Legal & General Group Plc 0.11% of their portfolio | 4.5m $402.6m | Reduced -193.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.11% of their portfolio | 4.4m $394.2m | Added +1.2m |
| LSV ASSET MANAGEMENT 0.82% of their portfolio | 4.2m $373.4m | Reduced -311.1k |
| GOLDMAN SACHS GROUP INC 0.07% of their portfolio | 4.2m $371.4m | Added +699.0k |
| Invesco Ltd. 0.08% of their portfolio | 4.1m $362.2m | Reduced -325.8k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 3.8m $342.2m | Added +192.4k |
| Bank of New York Mellon Corp 0.06% of their portfolio | 3.7m $326.1m | Reduced -137.8k |
| NORGES BANK 0.04% of their portfolio | 3.4m $300.7m | Added +76.4k |
| FIRST TRUST ADVISORS LP 0.30% of their portfolio | 3.3m $291.2m | Reduced -2.1m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.06% of their portfolio | 3.2m $289.0m | Added +21.1k |
| APG Asset Management N.V. 0.36% of their portfolio | 2.4m $202.4m | Added +31.8k |
| ProShare Advisors LLC 0.53% of their portfolio | 2.2m $198.3m | Added +117.5k |
| Guinness Asset Management LTD 4.04% of their portfolio | 2.2m $195.8m | Reduced -18.9k |
| TRUIST FINANCIAL CORP 0.26% of their portfolio | 1.9m $172.3m | Added +405.8k |
| UBS Group AG 0.05% of their portfolio | 1.9m $167.4m | Reduced -416.7k |
| NORDEA INVESTMENT MANAGEMENT AB 0.20% of their portfolio | 1.9m $168.9m | Added +67.4k |
| Swiss National Bank 0.10% of their portfolio | 1.6m $144.5m | Reduced -44.1k |
| DEUTSCHE BANK AG\ 0.06% of their portfolio | 1.6m $143.8m | Reduced -52.5k |
| ASSETMARK, INC 0.43% of their portfolio | 1.6m $140.6m | Reduced -1.3k |
| National Pension Service 0.16% of their portfolio | 1.5m $136.3m | Added +1.6k |
| AMERICAN CENTURY COMPANIES INC 0.08% of their portfolio | 1.5m $134.6m | Reduced -338.2k |
| Amundi 0.05% of their portfolio | 1.5m $133.2m | Added +172.0k |
| Robeco Institutional Asset Management B.V. 0.28% of their portfolio | 1.4m $129.2m | Reduced -523.5k |
| Maj Invest Holding A/S 3.57% of their portfolio | 1.4m $128.2m | Reduced -94.6k |
| California Public Employees Retirement System 0.09% of their portfolio | 1.4m $127.2m | Reduced -78.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.09% of their portfolio | 1.4m $124.7m | Reduced -116.9k |
| Nuveen Asset Management, LLC 0.04% of their portfolio | 1.4m $121.3m | Reduced -164.9k |
| SYNOVUS FINANCIAL CORP 1.54% of their portfolio | 1.3m $116.9m | Reduced -10.4k |
| Brandywine Global Investment Management, LLC 0.85% of their portfolio | 1.3m $113.3m | Added +53.7k |
| BARCLAYS PLC 0.05% of their portfolio | 1.3m $112.8m | Reduced -302.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 1.2m $111.0m | Added +268.7k |
| RHUMBLINE ADVISERS 0.10% of their portfolio | 1.2m $108.3m | Reduced -47.8k |
| FMR LLC 0.01% of their portfolio | 1.2m $103.3m | Added +61.3k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 1.1m $100.8m | Reduced -83.5k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.10% of their portfolio | 1.1m $95.2m | Added +124.5k |
| CAPTRUST FINANCIAL ADVISORS 0.29% of their portfolio | 1.0m $91.4m | Added +42.8k |
| CANADA LIFE ASSURANCE Co 0.17% of their portfolio | 1.0m $89.4m | Added +10.3k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 934.9k $83.6m | Reduced -156.4k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 920.1k $82.2m | Reduced -99.5k |
| Bank Julius Baer & Co. Ltd, Zurich 0.33% of their portfolio | 906.1k $87.3m | Reduced -45.3k |
| LPL Financial LLC 0.04% of their portfolio | 902.5k $80.6m | Added +32.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 888.8k $79.4m | Added +5.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.10% of their portfolio | 886.1k $79.1m | Reduced -15.8k |
| RAYMOND JAMES & ASSOCIATES 0.05% of their portfolio | 866.7k $77.4m | Added +74.3k |
| Clark Capital Management Group, Inc. 0.56% of their portfolio | 846.5k $75.6m | Added +9.9k |
| TCTC Holdings, LLC 2.50% of their portfolio | 814.9k $72.8m | Reduced -4.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.09% of their portfolio | 796.6k $71.1m | Added +88.3k |
| Vest Financial, LLC 1.65% of their portfolio | 770.4k $68.8m | Added +128.5k |
| Allianz Asset Management GmbH 0.10% of their portfolio | 708.6k $63.3m | Added +159.1k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 695.9k $62.7m | Added +20.7k |
| Pictet Asset Management Holding SA 0.07% of their portfolio | 695.4k $62.1m | Reduced -119.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.12% of their portfolio | 668.2k $59.7m | Reduced -49.8k |
| Strategic Financial Concepts, LLC 0.06% of their portfolio | 667.7k $107.9k | Added +658.3k |
| Raymond James Financial Services Advisors, Inc. 0.08% of their portfolio | 665.2k $59.4m | Reduced -57.4k |
| AGF MANAGEMENT LTD 0.33% of their portfolio | 660.7k $59.0m | Reduced -15.9k |
| STIFEL FINANCIAL CORP 0.07% of their portfolio | 654.6k $58.5m | Reduced -10.1k |
| QRG CAPITAL MANAGEMENT, INC. 0.69% of their portfolio | 648.7k $57.9m | Added +20.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.06% of their portfolio | 648.0k $57.9m | Added +9.1k |
| Corient Private Wealth LP 0.10% of their portfolio | 646.3k $57.7m | Added +1.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 640.4k $57.2m | Reduced -26.4k |
| DONALDSON CAPITAL MANAGEMENT, LLC 2.40% of their portfolio | 640.1k $57.2m | Reduced -5.1k |
| JANE STREET GROUP, LLC 0.06% of their portfolio | 621.3k $55.5m | Added +384.0k |
| STOREBRAND ASSET MANAGEMENT AS 0.18% of their portfolio | 620.1k $55.4m | Reduced -18.8k |
| NOMURA ASSET MANAGEMENT CO LTD 0.19% of their portfolio | 608.8k $54.4m | Added +74.1k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.14% of their portfolio | 606.4k $54.2m | Added +42.4k |
| CITIGROUP INC 0.05% of their portfolio | 604.0k $53.9m | Added +35.7k |
| Boston Partners 0.07% of their portfolio | 600.3k $53.6m | Reduced -19.9k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.17% of their portfolio | 569.0k $50.8m | Reduced -255.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.06% of their portfolio | 551.9k $49.3m | Reduced -4.2k |
| GREATMARK INVESTMENT PARTNERS, INC. 6.79% of their portfolio | 521.4k $46.6m | Reduced -1.8k |
| ARIEL INVESTMENTS, LLC 0.50% of their portfolio | 517.0k $46.2m | Reduced -21.2k |
| Mitsubishi UFJ Trust & Banking Corp 0.11% of their portfolio | 504.8k $45.1m | Reduced -2.0k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 489.8k $43.7m | Added +388.9k |
| Polar Capital Holdings Plc 0.26% of their portfolio | 485.0k $43.3m | Unchanged |
| Russell Investments Group, Ltd. 0.07% of their portfolio | 473.3k $42.3m | Reduced -20.1k |
| Retirement Systems of Alabama 0.16% of their portfolio | 468.5k $41.8m | Reduced -23.3k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 457.4k $40.9m | Added +87.0k |
| D. E. Shaw & Co., Inc. 0.06% of their portfolio | 455.1k $40.6m | Added +71.9k |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.42% of their portfolio | 454.0k $40.5m | Added +27.9k |
| HighTower Advisors, LLC 0.06% of their portfolio | 448.0k $40.0m | Added +17.3k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 443.0k $39.6m | Reduced -273.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 435.1k $38.9m | Reduced -38.4k |
| PINEBRIDGE INVESTMENTS, L.P. 0.31% of their portfolio | 425.5k $38.0m | Added +43.4k |
| Rockefeller Capital Management L.P. 0.11% of their portfolio | 419.0k $37.4m | Reduced -21.7k |
| DekaBank Deutsche Girozentrale 0.07% of their portfolio | 413.7k $36.9m | Reduced -24.9k |
| CONNING INC. 1.28% of their portfolio | 400.0k $35.7m | Reduced -61.6k |
| Sabal Trust CO 2.11% of their portfolio | 396.9k $35.4m | Reduced -14.3k |
| ROFFMAN MILLER ASSOCIATES INC /PA/ 2.31% of their portfolio | 392.9k $35.1m | Added +2.2k |
| PRUDENTIAL FINANCIAL INC 0.05% of their portfolio | 391.2k $34.9m | Reduced -45.5k |