Weaver C. Barksdale & Associates Inc. Makes New Investment in Unum Group (NYSE:UNM)

Weaver C. Barksdale & Associates Inc. bought a new stake in Unum Group (NYSE:UNM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 26,488 shares of the financial services provider's stock, valued at approximately $1,935,000. Unum Group comprises 1.9% of Weaver C. Barksdale & Associates Inc.'s investment portfolio, making the stock its 21st biggest position.

Several other hedge funds have also added to or reduced their stakes in UNM. Vanguard Group Inc. increased its position in Unum Group by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider's stock worth $1,496,939,000 after buying an additional 1,596,078 shares during the period. Allianz Asset Management GmbH grew its stake in shares of Unum Group by 44.9% in the fourth quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider's stock valued at $92,383,000 after acquiring an additional 392,191 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its position in Unum Group by 151.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider's stock worth $30,297,000 after acquiring an additional 307,175 shares during the period. Victory Capital Management Inc. raised its stake in Unum Group by 23.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider's stock worth $106,837,000 after purchasing an additional 276,655 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Unum Group in the 4th quarter worth about $19,617,000. 86.57% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the transaction, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the sale, the executive vice president now directly owns 31,284 shares of the company's stock, valued at $2,588,751. This represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Raymond James upgraded Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price objective on the stock in a research note on Wednesday, March 5th. BMO Capital Markets upped their target price on Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Piper Sandler raised their price target on Unum Group from $82.00 to $87.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Finally, Jefferies Financial Group upped their price objective on shares of Unum Group from $91.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Unum Group presently has a consensus rating of "Moderate Buy" and an average price target of $86.62.

Unum Group Price Performance

NYSE:UNM traded down $1.94 on Friday, hitting $79.95. The company had a trading volume of 1,230,860 shares, compared to its average volume of 1,254,733. Unum Group has a 52 week low of $48.38 and a 52 week high of $84.48. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.14 and a beta of 0.74. The firm has a 50 day moving average of $77.78 and a two-hundred day moving average of $71.32.

Unum Group (NYSE:UNM - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts' consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, research analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group's dividend payout ratio (DPR) is currently 17.74%.

Unum Group Profile

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.