Skandinaviska Enskilda Banken AB publ Trims Stake in Unum Group (NYSE:UNM)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Unum Group (NYSE:UNM) by 14.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,850 shares of the financial services provider’s stock after selling 4,783 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Unum Group were worth $2,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Versant Capital Management Inc grew its position in Unum Group by 26.4% during the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after buying an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Unum Group by 28.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 179 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Unum Group by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 180 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Unum Group by 1.4% in the 4th quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 189 shares in the last quarter. Finally, Brooklyn Investment Group boosted its holdings in shares of Unum Group by 3.1% in the 3rd quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock worth $392,000 after purchasing an additional 197 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Trading Up 2.4 %

UNM opened at $78.99 on Monday. The business has a 50 day simple moving average of $76.08 and a two-hundred day simple moving average of $69.55. The firm has a market capitalization of $13.96 billion, a price-to-earnings ratio of 8.34, a PEG ratio of 1.14 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. Unum Group has a one year low of $48.38 and a one year high of $83.96.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio is currently 17.74%.

Unum Group announced that its board has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Raymond James upgraded Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price objective for the company in a report on Wednesday, March 5th. Keefe, Bruyette & Woods upped their price objective on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Piper Sandler boosted their target price on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Morgan Stanley boosted their target price on Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company boosted their target price on Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.62.

Insider Transactions at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the transaction, the chief executive officer now owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the sale, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. The trade was a 18.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.