Bank of Nova Scotia Has $7.56 Million Stock Holdings in Unum Group (NYSE:UNM)

Bank of Nova Scotia lifted its holdings in Unum Group (NYSE:UNM - Free Report) by 96.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 103,528 shares of the financial services provider's stock after buying an additional 50,705 shares during the quarter. Bank of Nova Scotia owned about 0.06% of Unum Group worth $7,561,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UNM. Franklin Resources Inc. lifted its position in shares of Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider's stock worth $29,554,000 after purchasing an additional 156,380 shares in the last quarter. Blue Trust Inc. boosted its position in Unum Group by 44.1% in the 4th quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider's stock valued at $1,205,000 after buying an additional 5,047 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Unum Group in the 4th quarter valued at $8,816,000. Charles Schwab Investment Management Inc. increased its stake in shares of Unum Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider's stock valued at $405,481,000 after buying an additional 51,744 shares during the period. Finally, Oak Thistle LLC lifted its stake in shares of Unum Group by 362.9% during the fourth quarter. Oak Thistle LLC now owns 19,461 shares of the financial services provider's stock valued at $1,421,000 after acquiring an additional 15,257 shares during the period. Institutional investors and hedge funds own 86.57% of the company's stock.

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Insider Transactions at Unum Group

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

Unum Group Stock Up 0.5 %

Shares of Unum Group stock traded up $0.35 during trading on Tuesday, reaching $77.26. The stock had a trading volume of 1,598,757 shares, compared to its average volume of 1,286,609. 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 company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 8.16, a P/E/G ratio of 1.14 and a beta of 0.46. The stock has a fifty day moving average price of $77.79 and a two-hundred day moving average price of $73.11. Unum Group has a 52 week low of $48.38 and a 52 week high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. Sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.17%. Unum Group's dividend payout ratio (DPR) is presently 17.74%.

Analyst Ratings Changes

Several brokerages have weighed in on UNM. JPMorgan Chase & Co. boosted their price objective on Unum Group from $81.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. BMO Capital Markets increased their price objective on shares of Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Wells Fargo & Company lowered their target price on shares of Unum Group from $97.00 to $95.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Piper Sandler increased their price target on Unum Group from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, Raymond James upgraded Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 target price for the company in a research report on Wednesday, March 5th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Unum Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.36.

Unum Group Company 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.