KLP Kapitalforvaltning AS Takes $4.54 Million Position in Unum Group (NYSE:UNM)

KLP Kapitalforvaltning AS bought a new position in Unum Group (NYSE:UNM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 62,200 shares of the financial services provider's stock, valued at approximately $4,542,000.

A number of other large investors have also modified their holdings of UNM. Natixis Advisors LLC boosted its holdings in Unum Group by 5.5% in the 3rd quarter. Natixis Advisors LLC now owns 28,795 shares of the financial services provider's stock worth $1,712,000 after acquiring an additional 1,499 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Unum Group by 188.1% during the third quarter. Advisors Asset Management Inc. now owns 2,829 shares of the financial services provider's stock worth $168,000 after purchasing an additional 1,847 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Unum Group by 15.1% in the third quarter. Citigroup Inc. now owns 62,491 shares of the financial services provider's stock valued at $3,714,000 after purchasing an additional 8,186 shares during the period. Cerity Partners LLC grew its holdings in Unum Group by 57.0% during the 3rd quarter. Cerity Partners LLC now owns 71,667 shares of the financial services provider's stock valued at $4,260,000 after purchasing an additional 26,010 shares in the last quarter. Finally, Qsemble Capital Management LP purchased a new stake in Unum Group during the 3rd quarter worth $1,258,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on UNM shares. Piper Sandler upped their target price on Unum Group from $82.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. StockNews.com downgraded shares of Unum Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods raised their price objective on shares of Unum Group from $90.00 to $103.00 and gave the stock an "outperform" rating in a 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 target price on the stock in a research note on Wednesday, March 5th. Finally, BMO Capital Markets lifted their price objective on shares of Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Unum Group has an average rating of "Moderate Buy" and an average target price of $86.62.

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Unum Group Stock Performance

NYSE:UNM traded down $1.94 during mid-day trading on Friday, hitting $79.95. The stock had a trading volume of 1,230,860 shares, compared to its average volume of 1,254,733. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $77.78 and a 200-day simple moving average of $71.32. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 8.44, 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 $84.48.

Unum Group (NYSE:UNM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, research analysts expect that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 yield of 2.10%. Unum Group's dividend payout ratio (DPR) is presently 17.74%.

Unum Group announced that its board has authorized a share repurchase program on Tuesday, February 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

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 dated 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 transaction, the chief executive officer now 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares of the company's stock, valued at $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company's stock.

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.