Nordea Investment Management AB Has $109.92 Million Position in Unum Group $UNM

Nordea Investment Management AB lessened its stake in shares of Unum Group (NYSE:UNM) by 4.1% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,420,929 shares of the financial services provider’s stock after selling 61,167 shares during the quarter. Nordea Investment Management AB’s holdings in Unum Group were worth $109,923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Unum Group by 42.7% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,681 shares of the financial services provider’s stock worth $2,155,000 after acquiring an additional 7,981 shares during the period. BTC Capital Management Inc. increased its stake in shares of Unum Group by 5.0% during the second quarter. BTC Capital Management Inc. now owns 71,836 shares of the financial services provider’s stock worth $5,731,000 after purchasing an additional 3,399 shares during the period. TrueMark Investments LLC acquired a new stake in Unum Group during the 2nd quarter worth approximately $5,063,000. Strs Ohio bought a new stake in Unum Group in the 1st quarter valued at $3,221,000. Finally, Intech Investment Management LLC grew its holdings in Unum Group by 22.1% in the 2nd quarter. Intech Investment Management LLC now owns 126,330 shares of the financial services provider’s stock valued at $10,202,000 after buying an additional 22,863 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on UNM shares. Wells Fargo & Company lifted their target price on Unum Group from $98.00 to $104.00 and gave the stock an “overweight” rating in a report on Tuesday. Wolfe Research upgraded shares of Unum Group to a “strong-buy” rating in a research note on Tuesday, September 16th. Barclays restated an “overweight” rating on shares of Unum Group in a research report on Thursday, January 8th. Evercore ISI lifted their price target on shares of Unum Group from $96.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Unum Group in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and a consensus target price of $97.08.

Unum Group Price Performance

Shares of NYSE:UNM opened at $79.35 on Wednesday. The firm has a 50 day moving average of $77.07 and a 200-day moving average of $75.96. Unum Group has a 12 month low of $66.81 and a 12 month high of $84.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $13.28 billion, a PE ratio of 15.47, a PEG ratio of 1.43 and a beta of 0.20.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Monday, November 3rd. The financial services provider reported $2.09 earnings per share (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 firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business earned $2.13 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its board has initiated a share 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 repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In related news, CAO Walter Lynn Rice, Jr. sold 900 shares of the firm’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 sale, the chief accounting officer directly owned 8,940 shares of the company’s stock, valued at $657,090. This trade represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Steven Andrew Zabel sold 7,500 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $76.38, for a total value of $572,850.00. Following the transaction, the executive vice president directly owned 113,807 shares of the company’s stock, valued at approximately $8,692,578.66. The trade was a 6.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 12,400 shares of company stock worth $951,160. Insiders own 0.93% of the company’s stock.

Unum Group Company 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.