BI Asset Management Fondsmaeglerselskab A S Grows Position in Unum Group (NYSE:UNM)

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Unum Group (NYSE:UNM - Free Report) by 366.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 77,686 shares of the financial services provider's stock after buying an additional 61,019 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Unum Group were worth $5,673,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barrett & Company Inc. increased its holdings in Unum Group by 300.0% in the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock worth $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 worth $38,000. Millstone Evans Group LLC purchased a new position in shares of Unum Group in the fourth quarter valued at about $45,000. Versant Capital Management Inc raised 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 period. Finally, Wilmington Savings Fund Society FSB bought a new position in Unum Group in the 3rd quarter worth approximately $58,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the sale, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction that occurred 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 in the company, valued at $2,588,751. This trade represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on UNM. Morgan Stanley lifted their target price on Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Piper Sandler lifted their price objective on shares of Unum Group from $87.00 to $92.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. UBS Group raised their price target on Unum Group from $75.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Unum Group from $97.00 to $95.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. lifted their target price on Unum Group from $81.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Five equities research 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.36.

Unum Group Stock Performance

NYSE UNM traded down $0.35 during trading hours on Friday, reaching $78.57. The stock had a trading volume of 1,111,930 shares, compared to its average volume of 1,304,718. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48. The stock has a fifty day moving average of $77.97 and a 200 day moving average of $73.83. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The stock has a market cap of $13.85 billion, a P/E ratio of 8.30, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46.

Unum Group (NYSE:UNM - Get Free Report) last issued 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%. Sell-side 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 initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, April 25th. Unum Group's payout ratio is presently 17.74%.

About Unum Group

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.