Oddo BHF Portfolio Moves
Oddo BHF Significantly Increases Stakes in US Stocks, Trims Arthur J. Gallagher & Co.
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For Twilio, director Andrew Stafman sold 1,000,000 shares at an average price of $184.14 for about $184.14 million, according to the same filing referenced in the report.
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Oddo BHF’s Twilio position rose to 18,969 shares after adding 4,244 shares in the quarter, with the holding valued at about $2.698 million and institutional ownership at 84.27%.
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Cigna analyst actions cited alongside the Cigna stake increase included Jefferies trimming its price target from $333 to $330 while keeping a “buy” rating, and Deutsche Bank cutting its stance from “buy” to “hold” while reducing its target from $303 to $302.
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For FedEx, the report notes multiple analyst moves: Raymond James initiated coverage with an “outperform” rating and a $180 target, and Stifel Nicolaus raised its price target from $425 to $442; it also cites a Wall Street Zen upgrade to “strong-buy.”
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In Arthur J. Gallagher, Oddo BHF cut its stake by selling 3,303 shares, leaving it with 1,700 shares valued at about $440,000; the article also places institutional/hedge-fund ownership at 85.53%.
European asset manager Oddo BHF Asset Management Sas has been busy reshaping its US portfolio. The firm boosted stakes in Twilio, Cigna, and FedEx during the fourth quarter, while also starting a fresh position in Hasbro — but it slashed its holding in insurance broker Arthur J. Gallagher & Co. by more than 65%, according to Fintel.
The moves came as Oddo BHF's 13F filing revealed a $2.538 billion portfolio spread across 275 holdings, according to Benzinga. The realignment points to a clear shift: the firm is rotating toward high-margin technology and intellectual property plays and away from traditional brokerage stocks.
Twilio Stake Grows Even as Director Dumps $184 Million
Oddo BHF added 4,244 shares of Twilio in the quarter, bringing its total to 18,969 shares worth about $2.698 million, according to MarketBeat. Institutional investors own 84.27% of the cloud communications company. Analysts hold a consensus "Moderate Buy" rating with an average price target of $198.24.
The institutional buying stands in sharp contrast to what insiders are doing. On May 27, Twilio director Andrew Stafman sold 1,000,000 shares at an average price of $184.14, a transaction worth roughly $184.14 million, according to Benzinga. Stafman, a partner at Sachem Head Capital, still holds over 633,000 shares. Analysts at Quiver Quantitative noted that while the sale created sentiment pressure, "fundamentals have not changed materially."
Cigna Stake Boosted as Analysts Split on the Outlook
Oddo BHF raised its Cigna position alongside the stock's mixed analyst picture. Jefferies trimmed its price target from $333 to $330 but kept a "buy" rating. Deutsche Bank went further, cutting its stance from "buy" to "hold" and lowering its target from $303 to $302, according to Investing.com.
Lead Deutsche Bank analyst George Hill cited a "lack of catalysts" compared to other managed care companies. But not everyone agrees. Mizuho stayed bullish, raising its target to $340. Investing.com also highlighted that Cigna trades at a PEG ratio of just 0.39, suggesting the market may be undervaluing the strength of its Express Scripts pharmacy division. A key risk looms in October, when Stars performance ratings could act as a "binary event" for the stock.
FedEx Freight Spin-Off Opens a New Chapter for the Stock
Oddo BHF lifted its FedEx position by 28.8% in the fourth quarter, according to Ticker Report. The timing proved significant. On June 1, FedEx spun off its freight division into a separate public company, a move designed to unlock value by separating the high-margin less-than-truckload business from its capital-heavy Express and Ground operations.
Analyst reactions to the spin-off were broadly positive. Raymond James initiated coverage on the new FedEx Freight unit with an "outperform" rating and a $180 target. Stifel Nicolaus raised its FedEx price target from $425 to $442, with analyst J. Bruce pointing to the "Network 2.0" integration as a key driver, according to MarketBeat. Still, the spread in analyst views is vast — JP Morgan has a high target of $460 while Morgan Stanley sits at just $160.
Hasbro Gets a New Backer; Gallagher Gets the Boot
Oddo BHF started a brand-new position in Hasbro, joining other brokerages that have warmed to the toymaker's digital shift. Hasbro posted Q1 revenue of $1 billion, up 13% year over year, with adjusted earnings per share of $1.47, beating estimates of $1.39, according to Benzinga. Its Wizards of the Coast and digital gaming segment now drives margins above 50%, offsetting weakness in traditional toy lines.
On the other end, Oddo BHF sharply cut its stake in Arthur J. Gallagher & Co. It sold 3,303 of its 5,003 shares, leaving just 1,700 shares valued at roughly $440,000, according to MarketBeat. That move runs against the grain — institutional investors collectively own 85.53% of AJG. The reduction is seen by some as profit-taking after the insurance broker's recent aggressive acquisition spree.
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