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We at Insider Monkey have gone over 700 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of December 31st. In this article, we look at what those funds think of Unum Group (NYSE:UNM) based on that data.
Unum Group (NYSE:UNM) shares haven't seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 25 hedge funds' portfolios at the end of the fourth quarter of 2018. At the end of this article we will also compare UNM to other stocks including KAR Auction Services Inc (NYSE:KAR), Zillow Group Inc (NASDAQ:Z), and Booz Allen Hamilton Holding Corporation (NYSE:BAH) to get a better sense of its popularity.
To the average investor there are a lot of signals stock traders employ to size up their holdings. A couple of the most useful signals are hedge fund and insider trading signals. Our researchers have shown that, historically, those who follow the top picks of the top investment managers can outpace the broader indices by a significant margin (see the details here).
We're going to analyze the new hedge fund action surrounding Unum Group (NYSE:UNM).
How have hedgies been trading Unum Group (NYSE:UNM)?
At Q4's end, a total of 25 of the hedge funds tracked by Insider Monkey were long this stock, a change of 0% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards UNM over the last 14 quarters. So, let's examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Among these funds, GLG Partners held the most valuable stake in Unum Group (NYSE:UNM), which was worth $50.1 million at the end of the third quarter. On the second spot was Balyasny Asset Management which amassed $45 million worth of shares. Moreover, Arrowstreet Capital, Millennium Management, and Two Sigma Advisors were also bullish on Unum Group (NYSE:UNM), allocating a large percentage of their portfolios to this stock.
Due to the fact that Unum Group (NYSE:UNM) has experienced declining sentiment from the aggregate hedge fund industry, it's easy to see that there exists a select few fund managers that slashed their full holdings in the third quarter. Intriguingly, Howard Guberman's Gruss Asset Management dropped the biggest investment of the "upper crust" of funds followed by Insider Monkey, worth about $20.5 million in stock, and Brandon Haley's Holocene Advisors was right behind this move, as the fund dumped about $1.2 million worth. These bearish behaviors are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).