Unum Group (NYSE:UNM) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ trimmed its holdings in shares of Unum Group (NYSE:UNM) by 63.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,611 shares of the financial services provider’s stock after selling 91,270 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Unum Group were worth $2,740,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UNM. Versant Capital Management Inc boosted its position in shares of Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after buying an additional 394 shares during the period. V Square Quantitative Management LLC purchased a new stake in Unum Group during the 2nd quarter worth $26,000. Salomon & Ludwin LLC purchased a new position in Unum Group in the 1st quarter valued at about $28,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Unum Group during the second quarter worth about $29,000. Finally, MCF Advisors LLC acquired a new position in shares of Unum Group in the first quarter worth about $35,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

UNM has been the topic of a number of recent analyst reports. Evercore ISI upped their target price on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Wells Fargo & Company increased their target price on Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Jefferies Financial Group upped their price target on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Barclays assumed coverage on shares of Unum Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price target on the stock. Finally, Citigroup lifted their target price on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Unum Group has an average rating of “Moderate Buy” and a consensus target price of $62.90.

Unum Group Stock Performance

Shares of UNM opened at $58.24 on Tuesday. Unum Group has a 52-week low of $41.75 and a 52-week high of $58.32. The firm has a market capitalization of $11.03 billion, a PE ratio of 8.65, a P/E/G ratio of 0.83 and a beta of 0.77. The firm has a 50-day moving average price of $54.56 and a 200 day moving average price of $52.73. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $2.06 EPS. On average, sell-side analysts anticipate that Unum Group will post 8.5 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 2.88%. This is a boost from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s payout ratio is currently 24.96%.

Unum Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Unum Group Company 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.