Corient Private Wealth LLC Decreases Stake in Unum Group (NYSE:UNM)

Corient Private Wealth LLC lowered its position in Unum Group (NYSE:UNM - Free Report) by 6.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 140,624 shares of the financial services provider's stock after selling 9,811 shares during the period. Corient Private Wealth LLC owned about 0.08% of Unum Group worth $10,270,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of UNM. Charles Schwab Investment Management Inc. raised its position in shares of Unum Group by 0.9% during 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 in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Unum Group by 23.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider's stock valued at $106,837,000 after purchasing an additional 276,655 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of Unum Group by 44.9% during 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 purchasing an additional 392,191 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted 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 valued at $30,297,000 after acquiring an additional 307,175 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider's stock valued at $29,554,000 after acquiring an additional 156,380 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

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Insider Activity at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction dated 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 sale, the chief executive officer now owns 980,637 shares in the company, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction dated 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 in the company, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Analyst Ratings Changes

UNM has been the subject of a number of research analyst reports. Barclays raised their price target on shares of Unum Group from $76.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday, January 6th. BMO Capital Markets raised their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $79.00 price target (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Wells Fargo & Company raised their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an "overweight" rating in a report on Wednesday, February 19th. Finally, Jefferies Financial Group raised their price target on shares of Unum Group from $91.00 to $96.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.62.

Unum Group Stock Performance

UNM stock traded up $0.50 during midday trading on Friday, hitting $81.54. 10,362,391 shares of the stock traded hands, compared to its average volume of 1,179,247. The firm has a market cap of $14.41 billion, a P/E ratio of 8.61, a PEG ratio of 1.14 and a beta of 0.74. 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 stock's fifty day simple moving average is $76.93 and its 200-day simple moving average is $70.36. Unum Group has a 1-year low of $48.38 and a 1-year high of $83.96.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly 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%. On average, analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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 given a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.06%. Unum Group's dividend payout ratio is presently 17.74%.

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.