Handelsbanken Fonder AB Purchases 6,700 Shares of Unum Group (NYSE:UNM)

Handelsbanken Fonder AB increased its holdings in Unum Group (NYSE:UNM) by 15.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,807 shares of the financial services provider’s stock after acquiring an additional 6,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Unum Group were worth $2,961,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Unum Group during the third quarter valued at approximately $513,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Unum Group by 183.5% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 170,100 shares of the financial services provider’s stock worth $8,694,000 after buying an additional 110,100 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in Unum Group during the second quarter worth $133,000. Sanctuary Advisors LLC bought a new stake in Unum Group during the 2nd quarter valued at $1,141,000. Finally, Cetera Investment Advisers increased its holdings in shares of Unum Group by 9.5% in the 2nd quarter. Cetera Investment Advisers now owns 36,132 shares of the financial services provider’s stock valued at $1,847,000 after acquiring an additional 3,143 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Unum Group Price Performance

Shares of UNM opened at $60.40 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The company’s fifty day moving average price is $55.79 and its 200-day moving average price is $53.32. Unum Group has a 1-year low of $41.75 and a 1-year high of $61.72. The firm has a market capitalization of $11.44 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same quarter in the previous year, the business earned $2.06 EPS. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities research analysts predict that Unum Group will post 8.48 EPS for the current year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.78%. This is a boost from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, July 26th. Unum Group’s payout ratio is presently 24.96%.

Unum Group announced that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on UNM. Barclays decreased their price objective on Unum Group from $73.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday. Wells Fargo & Company raised their price target on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Piper Sandler reiterated an “overweight” rating and set a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Evercore ISI increased their target price on shares of Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Finally, Truist Financial lifted their price target on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Unum Group has an average rating of “Moderate Buy” and a consensus target price of $63.50.

Insider Activity

In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.