Norges Bank Purchases Shares of 14,308,628 Unum Group $UNM

Key Points

• Norges Bank disclosed a new fourth-quarter stake in Unum Group, buying 14.3 million shares worth about $1.11 billion, which equals roughly 8.55% of the company.
• Unum Group reported better-than-expected quarterly results, with EPS of $2.14 versus estimates of $2.07 and revenue of $3.36 billion, up 8.5% year over year.
• The company also paid a quarterly dividend of $0.46 per share, while analysts currently maintain a Moderate Buy consensus with an average price target of $93.83.

Norges Bank purchased a new stake in Unum Group (NYSE:UNM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,308,628 shares of the financial services provider's stock, valued at approximately $1,108,919,000. Norges Bank owned approximately 8.55% of Unum Group as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its stake in shares of Unum Group by 4.2% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,484 shares of the financial services provider's stock worth $271,000 after acquiring an additional 141 shares during the period. Larson Financial Group LLC boosted its stake in Unum Group by 0.4% in the 4th quarter. Larson Financial Group LLC now owns 37,864 shares of the financial services provider's stock valued at $2,934,000 after purchasing an additional 159 shares during the period. Arizona State Retirement System boosted its stake in Unum Group by 0.3% in the 3rd quarter. Arizona State Retirement System now owns 49,017 shares of the financial services provider's stock valued at $3,813,000 after purchasing an additional 160 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its stake in Unum Group by 1.2% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 13,709 shares of the financial services provider's stock valued at $1,066,000 after purchasing an additional 165 shares during the period. Finally, Valeo Financial Advisors LLC raised its holdings in Unum Group by 4.8% in the 4th quarter. Valeo Financial Advisors LLC now owns 3,714 shares of the financial services provider's stock valued at $288,000 after acquiring an additional 169 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors.

Insider Activity at Unum Group

In related news, EVP Christopher W. Pyne sold 4,852 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $72.47, for a total transaction of $351,624.44. Following the completion of the sale, the executive vice president directly owned 52,268 shares of the company's stock, valued at approximately $3,787,861.96. This trade represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lisa G. Iglesias sold 3,500 shares of the business's stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $73.00, for a total transaction of $255,500.00. Following the completion of the transaction, the executive vice president owned 29,453 shares in the company, valued at approximately $2,150,069. The trade was a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 20,352 shares of company stock valued at $1,568,804. 1.00% of the stock is owned by insiders.

Unum Group Stock Up 1.0%

UNM stock opened at $83.24 on Friday. The stock's 50 day simple moving average is $78.56 and its 200 day simple moving average is $76.63. Unum Group has a fifty-two week low of $68.28 and a fifty-two week high of $85.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market cap of $13.30 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 0.84 and a beta of 0.24.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $2.07 by $0.07. Unum Group had a return on equity of 12.60% and a net margin of 5.86%.The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same period in the prior year, the business earned $2.04 EPS. The firm's revenue for the quarter was up 8.5% on a year-over-year basis. Unum Group has set its FY 2026 guidance at 8.600-8.90 EPS. On average, research analysts expect that Unum Group will post 8.76 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, April 24th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.84 annualized dividend and a dividend yield of 2.2%. Unum Group's dividend payout ratio is 40.00%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a "moderate buy" rating and issued a $95.00 price objective on shares of Unum Group in a report on Thursday, March 26th. Zacks Research upgraded Unum Group from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Truist Financial upped their price target on Unum Group from $88.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Wall Street Zen upgraded Unum Group from a "sell" rating to a "hold" rating in a research report on Saturday, April 11th. Finally, Wells Fargo & Company upped their price target on Unum Group from $99.00 to $100.00 and gave the company an "overweight" rating in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $93.83.

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.

Want to see what other hedge funds are holding UNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unum Group (NYSE:UNM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.