Skandinaviska Enskilda Banken AB publ Cuts Position in Unum Group (NYSE:UNM)

Key Points

• Skandinaviska Enskilda Banken AB publ reduced its stake in Unum Group by 18.6% during the first quarter, holding 22,669 shares valued at approximately $1.85 million.
• Unum Group announced a quarterly dividend increase to $0.46 per share, yielding 2.28% annually, with the ex-dividend date set for July 25th.
• Analysts have varying opinions on Unum Group, with target prices ranging from $85.00 to $105.00 and a consensus rating of "Moderate Buy."

Skandinaviska Enskilda Banken AB publ trimmed its position in Unum Group (NYSE:UNM - Free Report) by 18.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 22,669 shares of the financial services provider's stock after selling 5,181 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Unum Group were worth $1,847,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of UNM. Rossby Financial LCC bought a new position in Unum Group during the 1st quarter worth approximately $46,000. Wayfinding Financial LLC bought a new stake in shares of Unum Group in the 1st quarter valued at $49,000. Cullen Frost Bankers Inc. raised its holdings in shares of Unum Group by 1,289.7% during the first quarter. Cullen Frost Bankers Inc. now owns 806 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 748 shares during the period. Kapitalo Investimentos Ltda acquired a new position in Unum Group during the 4th quarter worth approximately $102,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Unum Group by 60.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,282 shares of the financial services provider's stock worth $104,000 after purchasing an additional 482 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on UNM shares. UBS Group decreased their price target on Unum Group from $91.00 to $87.00 and set a "neutral" rating for the company in a report on Wednesday. Morgan Stanley upped their price objective on Unum Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Evercore ISI reduced their price objective on Unum Group from $100.00 to $96.00 and set an "outperform" rating for the company in a research note on Wednesday. JPMorgan Chase & Co. upped their price target on Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and a consensus target price of $92.54.

Insider Activity

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the completion of the sale, the executive vice president owned 51,170 shares in the company, valued at $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.92% of the company's stock.

Unum Group Trading Down 12.1%

UNM stock traded down $9.77 on Wednesday, reaching $71.20. The company's stock had a trading volume of 6,831,021 shares, compared to its average volume of 1,109,746. The firm has a market cap of $12.41 billion, a PE ratio of 8.52, a PEG ratio of 1.27 and a beta of 0.41. The business has a fifty day simple moving average of $80.25 and a two-hundred day simple moving average of $78.55. Unum Group has a 12-month low of $51.80 and a 12-month high of $84.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.07 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.16). Unum Group had a return on equity of 13.52% and a net margin of 11.77%. The company had revenue of $3.36 billion during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter last year, the business earned $2.16 earnings per share. The business's quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, July 25th. This is a boost from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio is 21.67%.

About Unum Group

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.