13,746,646 Shares in Unum Group (NYSE:UNM) Purchased by Norges Bank

Norges Bank acquired a new position in Unum Group (NYSE:UNM) in the fourth quarter, Holdings Channel reports. The fund acquired 13,746,646 shares of the financial services provider’s stock, valued at approximately $1,003,918,000. Norges Bank owned 0.08% of Unum Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased 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 valued at $168,000 after acquiring an additional 1,847 shares during the last quarter. Citigroup Inc. grew its stake in Unum Group by 15.1% in the 3rd 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 stake in Unum Group by 57.0% in 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 during the period. D.A. Davidson & CO. increased its position in shares of Unum Group by 95.7% during the 3rd quarter. D.A. Davidson & CO. now owns 20,926 shares of the financial services provider’s stock valued at $1,244,000 after purchasing an additional 10,235 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Unum Group by 75.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 116,033 shares of the financial services provider’s stock worth $6,897,000 after purchasing an additional 49,960 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insider Activity 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 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 owns 980,637 shares of the company’s stock, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group 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 sale, the executive vice president now owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays increased their target price on shares of Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Piper Sandler lifted their price target on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. BMO Capital Markets increased their price objective on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Finally, Keefe, Bruyette & Woods raised their target price on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Five 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 company’s stock. Based on data from MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and an average price target of $86.62.

Unum Group Stock Down 0.6 %

UNM stock opened at $81.87 on Friday. The stock has a 50-day simple moving average of $77.69 and a two-hundred day simple moving average of $71.02. Unum Group has a twelve month low of $48.38 and a twelve month high of $84.48. The firm has a market capitalization of $14.47 billion, a PE ratio of 8.65, a PEG ratio of 1.14 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last issued its quarterly earnings data 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, equities analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

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

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.05%. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

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.