HighTower Advisors LLC Lowers Stock Holdings in Unum Group (NYSE:UNM)

HighTower Advisors LLC cut its stake in Unum Group (NYSE:UNM - Free Report) by 25.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,169 shares of the financial services provider's stock after selling 20,722 shares during the quarter. HighTower Advisors LLC's holdings in Unum Group were worth $4,394,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Moran Wealth Management LLC lifted its holdings in Unum Group by 25.9% in the fourth quarter. Moran Wealth Management LLC now owns 16,259 shares of the financial services provider's stock valued at $1,187,000 after acquiring an additional 3,349 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Unum Group by 8.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,267 shares of the financial services provider's stock worth $3,306,000 after buying an additional 3,554 shares during the period. Taika Capital LP acquired a new position in shares of Unum Group during the 4th quarter worth approximately $369,000. Sowell Financial Services LLC raised its stake in shares of Unum Group by 2.8% during the 4th quarter. Sowell Financial Services LLC now owns 24,934 shares of the financial services provider's stock worth $1,821,000 after buying an additional 689 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Unum Group by 7.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 30,176 shares of the financial services provider's stock worth $2,204,000 after buying an additional 2,072 shares during the period. 86.57% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UNM. Barclays upped their target price on Unum Group from $76.00 to $85.00 and gave the stock an "overweight" rating in a research note on Monday, January 6th. Piper Sandler upped their target price on Unum Group from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Wells Fargo & Company upped their target price on Unum Group from $81.00 to $91.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $79.00 price objective (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Unum Group from $90.00 to $103.00 and gave the company an "outperform" rating in a research note on Friday, February 28th. Five investment 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 stock. According to MarketBeat, Unum Group has a consensus rating of "Moderate Buy" and a consensus price target of $86.62.

Unum Group Trading Up 0.6 %

NYSE:UNM traded up $0.50 during trading hours on Friday, hitting $81.54. The company had a trading volume of 10,362,391 shares, compared to its average volume of 1,179,247. 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 50-day moving average of $76.93 and a 200 day moving average of $70.36. The company has a market cap of $14.41 billion, a P/E ratio of 8.61, a P/E/G ratio of 1.14 and a beta of 0.74. 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 issued 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 net margin of 13.81% and a return on equity of 14.91%. Sell-side analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group's payout ratio is currently 17.74%.

Unum Group declared that its board has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Insider Transactions at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the transaction, the chief executive officer now directly owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company's stock.

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.