Nordea Investment Management AB Decreases Stock Position in Unum Group (NYSE:UNM)

Nordea Investment Management AB trimmed its holdings in Unum Group (NYSE:UNM) by 34.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,483,980 shares of the financial services provider’s stock after selling 780,828 shares during the period. Nordea Investment Management AB’s holdings in Unum Group were worth $108,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of Unum Group in the third quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Unum Group during the 3rd quarter worth approximately $37,000. V Square Quantitative Management LLC lifted its stake in Unum Group by 38.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock valued at $42,000 after buying an additional 194 shares in the last quarter. William B. Walkup & Associates Inc. acquired a new stake in Unum Group during the 2nd quarter valued at $44,000. Finally, Quarry LP increased its position in Unum Group by 4,794.7% during the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after buying an additional 911 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Stock Performance

NYSE UNM opened at $73.20 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a 1-year low of $44.83 and a 1-year high of $77.63. The firm has a market capitalization of $13.37 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.06 and a beta of 0.81. The business’s 50-day simple moving average is $72.27 and its 200-day simple moving average is $61.56.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the previous year, the company posted $1.94 earnings per share. Unum Group’s revenue was up 4.0% compared to the same quarter last year. Equities analysts predict that Unum Group will post 8.54 EPS for the current year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend was Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

Insiders Place Their Bets

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total transaction of $769,200.00. Following the completion of the sale, the executive vice president now directly owns 54,827 shares of the company’s stock, valued at approximately $4,217,292.84. This trade represents a 15.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total transaction of $104,340.00. Following the completion of the transaction, the chief accounting officer now owns 8,361 shares in the company, valued at $581,591.16. This represents a 15.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,914 shares of company stock worth $7,998,745 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on UNM shares. Barclays increased their price objective on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday. Morgan Stanley lifted their price target on shares of Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial upped their price objective on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their target price on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $73.09.

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.