Taika Capital LP purchased a new position in shares of Unum Group (NYSE:UNM - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,050 shares of the financial services provider's stock, valued at approximately $369,000.
A number of other institutional investors also recently bought and sold shares of UNM. Farther Finance Advisors LLC lifted its holdings in Unum Group by 60.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 3,218 shares of the financial services provider's stock worth $191,000 after buying an additional 1,211 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Unum Group by 2.8% during the 3rd quarter. QRG Capital Management Inc. now owns 13,147 shares of the financial services provider's stock worth $781,000 after buying an additional 361 shares during the last quarter. Capital Performance Advisors LLP purchased a new stake in Unum Group during the 3rd quarter worth about $31,000. CWA Asset Management Group LLC purchased a new stake in Unum Group during the 3rd quarter worth about $1,393,000. Finally, Covestor Ltd lifted its holdings in Unum Group by 24.8% during the 3rd quarter. Covestor Ltd now owns 2,509 shares of the financial services provider's stock worth $149,000 after buying an additional 499 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on UNM. BMO Capital Markets lifted their price target on Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Keefe, Bruyette & Woods boosted their target price on Unum Group from $90.00 to $103.00 and gave the company an "outperform" rating in a report on Friday, February 28th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $79.00 target price (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on Unum Group from $80.00 to $84.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company boosted their target price on Unum Group from $81.00 to $91.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Unum Group has an average rating of "Moderate Buy" and an average price target of $86.62.
Check Out Our Latest Report on Unum Group
Unum Group Stock Performance
NYSE UNM traded down $0.95 on Wednesday, hitting $77.67. 1,339,202 shares of the company's stock were exchanged, compared to its average volume of 1,153,446. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The firm's 50-day moving average price is $75.79 and its two-hundred day moving average price is $69.06. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $83.96. The firm has a market cap of $13.73 billion, a price-to-earnings ratio of 8.20, a P/E/G ratio of 1.14 and a beta of 0.74.
Unum Group (NYSE:UNM - Get Free Report) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. On average, research analysts expect that Unum Group will post 9.14 EPS for the current year.
Unum Group Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, January 24th. Unum Group's dividend payout ratio is currently 17.74%.
Unum Group announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.
Insider Buying and Selling
In related news, CEO Richard P. Mckenney sold 50,000 shares of the company's 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 sale, the chief executive officer now owns 980,637 shares in the company, valued at $80,402,427.63. This represents a 4.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the sale, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company's stock.
Unum Group Profile
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Free Report)
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.
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