KLP Kapitalforvaltning AS Makes New $4.54 Million Investment in Unum Group (NYSE:UNM)

KLP Kapitalforvaltning AS bought a new stake in shares of Unum Group (NYSE:UNM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 62,200 shares of the financial services provider’s stock, valued at approximately $4,542,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barrett & Company Inc. grew its position in Unum Group by 300.0% in the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Unum Group during the 4th quarter valued at about $38,000. Millstone Evans Group LLC bought a new stake in Unum Group during the 4th quarter valued at $45,000. Quarry LP lifted its holdings in shares of Unum Group by 4,794.7% in the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after buying an additional 911 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after buying an additional 160 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on UNM. Morgan Stanley upped their price objective on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. BMO Capital Markets upped 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price objective (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Raymond James upgraded Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target on the stock in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.62.

Insider Activity at Unum Group

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total value of $579,250.00. Following the sale, the executive vice president now directly owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 directly owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Unum Group Price Performance

Shares of UNM stock opened at $83.03 on Wednesday. The stock’s 50-day simple moving average is $77.15 and its 200-day simple moving average is $70.66. The firm has a market capitalization of $14.68 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 1.14 and a beta of 0.74. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. As a group, equities analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Unum Group announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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.