Point72 DIFC Ltd Invests $1.95 Million in Unum Group (NYSE:UNM)

Point72 DIFC Ltd bought a new stake in Unum Group (NYSE:UNM - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 32,741 shares of the financial services provider's stock, valued at approximately $1,946,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. IHT Wealth Management LLC lifted its position in Unum Group by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 5,906 shares of the financial services provider's stock worth $351,000 after acquiring an additional 269 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in Unum Group by 151.7% during the 3rd 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. Janus Henderson Group PLC lifted its position in Unum Group by 9.2% during the 3rd quarter. Janus Henderson Group PLC now owns 134,134 shares of the financial services provider's stock worth $7,972,000 after acquiring an additional 11,331 shares during the period. HighTower Advisors LLC lifted its position in Unum Group by 3.9% during the 3rd quarter. HighTower Advisors LLC now owns 80,891 shares of the financial services provider's stock worth $4,811,000 after acquiring an additional 3,030 shares during the period. Finally, Centiva Capital LP lifted its position in Unum Group by 79.5% during the 3rd quarter. Centiva Capital LP now owns 8,290 shares of the financial services provider's stock worth $493,000 after acquiring an additional 3,671 shares during the period. 86.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on UNM shares. Evercore ISI raised Unum Group from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Wells Fargo & Company raised their price target on Unum Group from $69.00 to $71.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. Barclays raised their price target on Unum Group from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Bank of America raised their price target on Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Finally, Piper Sandler reissued an "overweight" rating and issued a $66.00 price target (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.73.

Insiders Place Their Bets

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the company's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the transaction, the executive vice president now directly owns 54,827 shares in the company, valued at approximately $4,217,292.84. This represents a 15.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the transaction, the chief accounting officer now owns 8,361 shares of the company's stock, valued at $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 107,914 shares of company stock valued at $7,998,745. Corporate insiders own 0.93% of the company's stock.

Unum Group Price Performance

NYSE UNM traded up $0.41 during mid-day trading on Thursday, hitting $76.08. The stock had a trading volume of 1,264,957 shares, compared to its average volume of 1,252,019. Unum Group has a 52-week low of $42.09 and a 52-week high of $77.63. The company has a market cap of $13.89 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 1.09 and a beta of 0.79. The company has a 50 day simple moving average of $67.33 and a 200 day simple moving average of $58.13. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. Unum Group's revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.94 earnings per share. Equities analysts forecast that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.21%. The ex-dividend date was Friday, October 25th. Unum Group's payout ratio is 18.18%.

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.