Handelsbanken Fonder AB Decreases Stake in Unum Group (NYSE:UNM)

Handelsbanken Fonder AB lowered its position in shares of Unum Group (NYSE:UNM) by 9.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 45,207 shares of the financial services provider’s stock after selling 4,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Unum Group were worth $3,301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Barrett & Company Inc. increased its position in shares of Unum Group by 300.0% during the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Unum Group in the 3rd quarter valued at $31,000. Kestra Investment Management LLC purchased a new stake in shares of Unum Group during the 4th quarter valued at $38,000. Quarry LP raised its stake in shares of Unum Group by 4,794.7% during the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 911 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Unum Group by 26.4% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Stock Down 1.0 %

NYSE UNM opened at $74.07 on Monday. Unum Group has a 1 year low of $48.38 and a 1 year high of $79.43. The stock has a market capitalization of $13.53 billion, a PE ratio of 7.82, a PEG ratio of 1.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The business’s 50-day moving average is $74.28 and its 200 day moving average is $66.95.

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

Unum Group declared that its board has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.27%. Unum Group’s dividend payout ratio is currently 17.74%.

Insider Buying and Selling

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total transaction of $769,200.00. Following the completion of the sale, the executive vice president now directly owns 54,827 shares in the company, valued at approximately $4,217,292.84. This trade represents a 15.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

UNM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $67.00 to $84.00 in a research note on Thursday, November 14th. Jefferies Financial Group upped their price objective on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company raised their target price on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Finally, Barclays upped their price target on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $81.17.

Unum Group 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.