BI Asset Management Fondsmaeglerselskab A S Raises Stake in Unum Group (NYSE:UNM)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in Unum Group (NYSE:UNM) by 366.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,686 shares of the financial services provider’s stock after purchasing an additional 61,019 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Unum Group were worth $5,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barrett & Company Inc. grew its stake in 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 in the last quarter. Kestra Investment Management LLC bought a new position in Unum Group in the 4th quarter valued at $38,000. Millstone Evans Group LLC purchased a new position in shares of Unum Group during the 4th quarter valued at $45,000. Versant Capital Management Inc increased its holdings in shares of Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 160 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Unum Group in the third quarter worth $58,000. 86.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Unum Group

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

Analysts Set New Price Targets

UNM has been the subject of several recent analyst reports. Morgan Stanley boosted their target price on Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Raymond James upgraded shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price objective on the stock in a research report on Wednesday, March 5th. Piper Sandler lifted their target price on shares of Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their price target on shares of Unum Group from $103.00 to $102.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays lifted their price objective on shares of Unum Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.36.

Unum Group Price Performance

UNM stock opened at $75.85 on Monday. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 8.01, a PEG ratio of 1.14 and a beta of 0.46. The firm’s 50-day moving average price is $77.76 and its two-hundred day moving average price is $73.55. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48.

Unum Group (NYSE:UNM) last posted 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%. As a group, equities analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, April 25th. Unum Group’s payout ratio is 17.74%.

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.