Norges Bank Takes $1 Billion Position in Unum Group (NYSE:UNM)

Norges Bank acquired a new stake in shares of Unum Group (NYSE:UNM) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,746,646 shares of the financial services provider’s stock, valued at approximately $1,003,918,000. Norges Bank owned approximately 7.53% of Unum Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barrett & Company Inc. boosted its stake in shares of Unum Group by 300.0% during the fourth 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 in the last quarter. Kestra Investment Management LLC acquired a new stake in Unum Group during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC bought a new stake in Unum Group during the 4th quarter worth approximately $45,000. Versant Capital Management Inc increased its position in Unum Group by 26.4% in the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 160 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Unum Group by 28.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 179 shares during the last quarter. Institutional investors own 86.57% of the company’s stock.

Insider Buying and Selling at Unum Group

In related 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UNM. Jefferies Financial Group increased their price objective on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Keefe, Bruyette & Woods increased their price target on Unum Group from $90.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their price objective on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. 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. Finally, BMO Capital Markets boosted their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and a consensus target price of $86.62.

Unum Group Price Performance

Shares of NYSE UNM opened at $81.87 on Friday. 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 firm’s 50-day moving average price is $77.69 and its 200-day moving average price is $71.02. The firm has a market capitalization of $14.47 billion, a P/E ratio of 8.65, a P/E/G ratio of 1.14 and a beta of 0.74. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48.

Unum Group (NYSE:UNM) last announced its quarterly 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%. Equities research analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

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