State of Alaska Department of Revenue Increases Stock Position in Unum Group $UNM

State of Alaska Department of Revenue grew its position in shares of Unum Group (NYSE:UNM) by 53.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 69,128 shares of the financial services provider’s stock after purchasing an additional 24,101 shares during the quarter. State of Alaska Department of Revenue’s holdings in Unum Group were worth $5,376,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Unum Group in the 2nd quarter valued at about $1,113,353,000. Geode Capital Management LLC lifted its stake in Unum Group by 7.0% in the second quarter. Geode Capital Management LLC now owns 3,341,589 shares of the financial services provider’s stock valued at $271,862,000 after buying an additional 219,076 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Unum Group by 11.5% in the second quarter. Allianz Asset Management GmbH now owns 1,537,189 shares of the financial services provider’s stock valued at $124,143,000 after acquiring an additional 159,084 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Unum Group by 3.6% in the second quarter. Nordea Investment Management AB now owns 1,482,096 shares of the financial services provider’s stock valued at $119,235,000 after acquiring an additional 51,750 shares during the period. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of Unum Group by 18.4% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,125,000 shares of the financial services provider’s stock worth $90,855,000 after acquiring an additional 175,000 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on UNM shares. Wolfe Research upgraded shares of Unum Group to a “strong-buy” rating in a research report on Tuesday, September 16th. Citigroup restated a “market perform” rating on shares of Unum Group in a research note on Thursday, December 18th. JPMorgan Chase & Co. reduced their target price on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Evercore ISI raised their price target on Unum Group from $96.00 to $99.00 and gave the stock an “outperform” rating in a report on Wednesday, November 5th. Finally, Morgan Stanley set a $85.00 price target on Unum Group in a research report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $96.58.

Insider Activity

In related news, EVP Steven Andrew Zabel sold 7,500 shares of Unum Group stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $76.38, for a total value of $572,850.00. Following the sale, the executive vice president directly owned 113,807 shares in the company, valued at $8,692,578.66. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher W. Pyne sold 4,000 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $78.04, for a total value of $312,160.00. Following the transaction, the executive vice president directly owned 51,372 shares in the company, valued at $4,009,070.88. This represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 12,400 shares of company stock valued at $951,160 in the last three months. 0.92% of the stock is currently owned by company insiders.

Unum Group Trading Down 0.1%

Shares of Unum Group stock opened at $80.29 on Friday. The firm has a market cap of $13.44 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.20. Unum Group has a 52-week low of $66.81 and a 52-week high of $84.48. The company’s 50-day simple moving average is $76.91 and its 200-day simple moving average is $75.98. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Monday, November 3rd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). Unum Group had a net margin of 6.99% and a return on equity of 13.09%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the prior year, the firm posted $2.13 EPS. Unum Group’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its Board of Directors has approved a stock buyback plan on Thursday, December 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

About Unum Group

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.