Aflac surges higher on Fortune 500, stock tops $77 per share

June 09--It's a prestigious club of sorts in which any company would love to be included.

For Aflac, this is the 23rd year that it has been on the Fortune 500 list, and it has managed to jump nine spots to No. 126 with its 2016 revenues of nearly $22.6 billion and profit of more than $2.6 billion. Its revenues are up 8.1 percent, with the profit 5 percent higher. It also boasts assets of nearly $130 billion and a market value over $30 billion as of Friday. The company has about 10,200 employees in the U.S. and Japan, with roughly 4,000 of those earning a paycheck in Columbus.

(Aflac President Paul Amos, son of CEO Dan Amos, leaving the company)

(Aflac stock moving into proverbial sweet spot range for a split)

The Columbus-based supplemental health and life insurer is among 17 companies from Georgia gracing the Fortune 500 this year, with the rest of the firms -- with the exception of Calhoun-based Mohawk Industries -- headquartered in the Atlanta area. There are no Fortune 500 players in the other major Georgia metro areas of Augusta, Savannah, Athens and Macon.

"We are delighted to be part of the Fortune 500 for a 23rd year and even more pleased that we have moved up nine places on this prestigious list of the biggest and best companies in the nation," Aflac Chairman and CEO Dan Amos said Friday in a statement. "We feel that this honor demonstrates the resiliency of our business model, which includes treating customers fairly, operating ethically and rewarding our shareholders."

(Aflac racks up $751 million profit in quarter, $2.7 billion for year)

As to the latter, Aflac shares on Friday shot more than 3 percent higher in early afternoon trading on the New York Stock Exchange, with the market having an overall solid day. Shares reached a 52-week high of $77.66 after lunchtime. At last month's annual meeting, Amos said Aflac shares will need to remain above $75 for six months before the company's board of directors will consider a stock split, which would be a very sweet reward for investors owning the firm's stock.

Of the 17 Georgia companies on the latest Fortune 500 list, Aflac is the 5th largest, coming in behind Home Depot at No. 23, United Parcel Service at No. 46, Coca-Cola at No. 64 and Delta Air Lines at No. 71.

After Aflac's No. 126, Georgia's rankings round out with Southern Co. (145), Genuine Parts (180), First Data (242), SunTrust (303), Mohawk Industries (311), Veritiv (331), PulteGroup (353), HD Supply Holdings (364), AGCO (370), NCR (409), Asbury Automotive (410) and Intercontinental Exchange (437).

Of note, Alabama only has one Fortune 500 company, that being Birmingham-based Regions Financial at No. 436, while the owner of St. Francis Hospital in Columbus, Nashville, Tenn.-based LifePoint Health, is No. 374.

The Fortune 500 list this year is topped by mega-retailer Walmart with its $485.8 billion in revenues last year, followed by legendary investor Warren Buffet's Berkshire Hathaway with $223.6 billion in revenues and Apple with $215.6 billion in revenues.

Rounding out the Top 10 are Exxon Mobil, McKesson, UnitedHealth Group, CVS Health, General Motors, AT&T and Ford Motor Co.

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