Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Unum Group (NYSE:UNM – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 72,400 shares of the financial services provider’s stock, valued at approximately $6,473,000.
Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Unum Group during the 4th quarter valued at about $1,108,919,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Unum Group by 0.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,653,246 shares of the financial services provider’s stock worth $438,127,000 after buying an additional 26,753 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Unum Group by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 4,084,382 shares of the financial services provider’s stock valued at $298,287,000 after buying an additional 292,670 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Unum Group by 35.1% during the third quarter. AQR Capital Management LLC now owns 2,339,289 shares of the financial services provider’s stock valued at $181,622,000 after acquiring an additional 607,684 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Unum Group by 5.4% during the fourth quarter. UBS Group AG now owns 1,356,916 shares of the financial services provider’s stock valued at $105,161,000 after acquiring an additional 68,957 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.
Unum Group Stock Up 0.8%
UNM stock opened at $93.16 on Friday. The business’s 50-day moving average price is $89.40 and its 200-day moving average price is $82.23. The stock has a market cap of $14.75 billion, a P/E ratio of 21.72, a PEG ratio of 0.98 and a beta of 0.26. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 0.35. Unum Group has a twelve month low of $68.70 and a twelve month high of $94.55.
Unum Group announced that its board has initiated a stock repurchase plan on Wednesday, August 26th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Unum Group Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were paid a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Friday, July 24th. This is a boost from Unum Group’s previous quarterly dividend of $0.46. Unum Group’s dividend payout ratio (DPR) is currently 47.09%.
Wall Street Analyst Weigh In
A number of analysts have commented on UNM shares. UBS Group set a $94.00 target price on Unum Group in a report on Tuesday, July 7th. Keefe, Bruyette & Woods dropped their price objective on Unum Group from $110.00 to $108.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th. Wells Fargo & Company boosted their target price on Unum Group from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Wolfe Research lowered their target price on shares of Unum Group from $102.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 6th. Finally, Barclays raised their price target on shares of Unum Group from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, July 6th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.42.
Get Our Latest Analysis on UNM
Unum Group Company Profile
Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.
In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.
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