Skandinaviska Enskilda Banken AB publ Sells 91,270 Shares of Unum Group (NYSE:UNM)

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Unum Group (NYSE:UNM) by 63.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 53,611 shares of the financial services provider’s stock after selling 91,270 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Unum Group were worth $2,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB lifted its position in Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after acquiring an additional 1,008,776 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Unum Group by 6,498.1% during the first quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock worth $34,145,000 after buying an additional 626,676 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Unum Group by 62.9% in the second quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock valued at $57,237,000 after acquiring an additional 432,240 shares during the period. Vanguard Group Inc. increased its position in Unum Group by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock worth $931,109,000 after acquiring an additional 300,840 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Unum Group by 43.0% in the fourth quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock valued at $44,021,000 after buying an additional 292,917 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $58,601,422.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred 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 directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Stock Up 1.6 %

UNM stock opened at $58.24 on Tuesday. Unum Group has a 1-year low of $41.75 and a 1-year high of $58.32. The business’s 50 day simple moving average is $54.56 and its 200 day simple moving average is $52.73. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $11.03 billion, a PE ratio of 8.65, a PEG ratio of 0.83 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.06 earnings per share. As a group, research analysts anticipate that Unum Group will post 8.5 EPS for the current year.

Unum Group announced that its board has authorized a stock buyback program 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Unum Group Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on UNM shares. Barclays started coverage on shares of Unum Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price target on the stock. Piper Sandler started coverage on Unum Group in a research note on Thursday, July 11th. They issued an “overweight” rating and a $57.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Evercore ISI upped their price target 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. Finally, Wells Fargo & Company upped their target price on shares of Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. 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 data from MarketBeat, Unum Group has a consensus rating of “Moderate Buy” and an average target price of $62.90.

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.