Swedbank AB Invests $14.64 Million in Unum Group $UNM

Swedbank AB bought a new position in shares of Unum Group (NYSE:UNM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 188,272 shares of the financial services provider’s stock, valued at approximately $14,644,000. Swedbank AB owned 0.11% of Unum Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Unum Group in the 2nd quarter valued at approximately $1,113,353,000. Teewinot Capital Advisers L.L.C. purchased a new position in Unum Group in the first quarter valued at $58,881,000. Ensign Peak Advisors Inc increased its holdings in Unum Group by 762.9% in the second quarter. Ensign Peak Advisors Inc now owns 712,206 shares of the financial services provider’s stock valued at $57,518,000 after buying an additional 629,665 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Unum Group by 65.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 950,000 shares of the financial services provider’s stock valued at $77,387,000 after buying an additional 375,000 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Unum Group during the 2nd quarter worth about $27,601,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Price Performance

Shares of NYSE UNM opened at $78.84 on Friday. The stock has a market cap of $13.19 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.55 and a beta of 0.20. Unum Group has a twelve month low of $66.81 and a twelve month high of $84.48. The stock has a 50 day moving average of $76.27 and a two-hundred day moving average of $76.02. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last announced its earnings results on Monday, November 3rd. The financial services provider reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). Unum Group had a net margin of 6.99% and a return on equity of 13.09%. The business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the firm earned $2.13 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, research analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its board has approved a stock buyback program on Thursday, December 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were paid a $0.46 dividend. The ex-dividend date was Friday, October 24th. This represents a $1.84 dividend on an annualized basis and a yield of 2.3%. Unum Group’s payout ratio is currently 35.87%.

Insider Activity

In related news, CAO Walter Lynn Rice, Jr. sold 900 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $73.50, for a total value of $66,150.00. Following the transaction, the chief accounting officer owned 8,940 shares in the company, valued at $657,090. The trade was a 9.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Christopher W. Pyne sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $78.04, for a total value of $312,160.00. Following the sale, the executive vice president directly owned 51,372 shares of the company’s stock, valued at approximately $4,009,070.88. This represents a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 12,400 shares of company stock valued at $951,160. Insiders own 0.92% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on UNM. Wells Fargo & Company dropped their price objective on Unum Group from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Morgan Stanley set a $85.00 price target on Unum Group in a report on Monday, December 15th. Wolfe Research upgraded shares of Unum Group to a “strong-buy” rating in a research note on Tuesday, September 16th. Evercore ISI boosted their price objective on shares of Unum Group from $96.00 to $99.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 5th. Finally, Barclays upped their target price on shares of Unum Group from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Unum Group currently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

Unum Group Profile

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.