Grantham Mayo Van Otterloo & Co. LLC Sells 58,740 Shares of Unum Group (NYSE:UNM)

Grantham Mayo Van Otterloo & Co. LLC decreased its stake in Unum Group (NYSE:UNM - Free Report) by 34.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,307 shares of the financial services provider's stock after selling 58,740 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.06% of Unum Group worth $8,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Barrett & Company Inc. grew its stake in shares of Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock valued at $29,000 after buying an additional 297 shares in the last quarter. Kestra Investment Management LLC acquired a new position in Unum Group during the fourth quarter worth approximately $38,000. Millstone Evans Group LLC bought a new stake in Unum Group in the 4th quarter valued at $45,000. Versant Capital Management Inc increased its holdings in shares of Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 160 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Unum Group by 28.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 179 shares during the period. Institutional investors and hedge funds own 86.57% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research analysts have weighed in on UNM shares. UBS Group increased their price target on shares of Unum Group from $75.00 to $91.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Raymond James raised Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price target for the company in a report on Wednesday, March 5th. StockNews.com downgraded Unum Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods lowered their price objective on Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets increased their target price on Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and an average price target of $88.07.

Unum Group Price Performance

Shares of UNM traded up $0.14 during mid-day trading on Friday, reaching $73.96. The company had a trading volume of 694,560 shares, compared to its average volume of 1,284,493. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 7.81, a P/E/G ratio of 1.14 and a beta of 0.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The company's 50 day simple moving average is $77.81 and its 200 day simple moving average is $72.73. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share 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%. Analysts expect that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.27%. Unum Group's dividend payout ratio is presently 17.74%.

Unum Group announced that its board has approved a share repurchase 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 buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insider Activity

In other news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the transaction, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. The trade was 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 accessible through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was 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 directly 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

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.