Skandinaviska Enskilda Banken AB publ Cuts Holdings in Unum Group (NYSE:UNM)

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Unum Group (NYSE:UNM) by 14.7% during the 4th quarter, HoldingsChannel.com reports. The firm 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 SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barrett & Company Inc. boosted its stake in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 297 shares during the last quarter. Kestra Investment Management LLC purchased a new stake in Unum Group during the 4th quarter valued at $38,000. Quarry LP boosted its stake in Unum Group by 4,794.7% during the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock valued at $55,000 after purchasing an additional 911 shares during the last quarter. Versant Capital Management Inc boosted its stake in Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 160 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Unum Group during the 3rd quarter valued at $58,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on UNM shares. BMO Capital Markets raised their price target on Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $79.00 price target (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods raised their price target on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, Wells Fargo & Company raised their price target on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Five 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. Based on data from MarketBeat, Unum Group has a consensus rating of “Moderate Buy” and an average price target of $86.62.

Insider Activity

In other news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was 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 owns 980,637 shares in the company, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction dated 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 approximately $2,588,751. The trade was a 18.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Unum Group Price Performance

NYSE:UNM opened at $78.99 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The business’s 50-day simple moving average is $76.08 and its two-hundred day simple moving average is $69.55. The stock has a market cap of $13.96 billion, a PE ratio of 8.34, a P/E/G ratio of 1.14 and a beta of 0.74. Unum Group has a 52 week low of $48.38 and a 52 week high of $83.96.

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

Unum Group Dividend Announcement

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

Unum Group declared that its board has approved a stock buyback program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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.