Massar Capital Management LP Purchases New Shares in Unum Group (NYSE:UNM)

Massar Capital Management LP acquired a new position in Unum Group (NYSE:UNM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,691 shares of the financial services provider's stock, valued at approximately $3,775,000. Unum Group makes up 4.3% of Massar Capital Management LP's portfolio, making the stock its 6th largest holding.

A number of other institutional investors have also made changes to their positions in the company. Barrett & Company Inc. boosted its position in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock worth $29,000 after acquiring an additional 297 shares during the period. Kestra Investment Management LLC acquired a new stake in Unum Group during the 4th quarter worth about $38,000. Millstone Evans Group LLC acquired a new position in Unum Group in the 4th quarter worth about $45,000. Versant Capital Management Inc lifted its stake in shares of Unum Group by 26.4% in the 4th 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, Wilmington Savings Fund Society FSB bought a new position in Unum Group during the third quarter valued at about $58,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Trading Down 1.0 %

Shares of UNM traded down $0.77 during trading hours on Friday, hitting $78.57. 1,111,930 shares of the stock traded hands, compared to its average volume of 1,307,290. The business has a fifty day moving average of $78.06 and a 200-day moving average of $73.95. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The firm has a market capitalization of $13.85 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM - Get Free Report) last posted 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%. Analysts expect that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its board has initiated a share buyback plan on Tuesday, February 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, April 25th. Unum Group's dividend payout ratio (DPR) is currently 17.74%.

Insider Activity

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 company'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 sale, the executive vice president now directly owns 31,284 shares in the company, valued at $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. StockNews.com lowered shares of Unum Group from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Barclays lifted their price objective on Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Keefe, Bruyette & Woods reduced their target price on Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group increased their price objective on shares of Unum Group from $75.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Finally, Piper Sandler lifted their target price on shares of Unum Group from $87.00 to $92.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Unum Group currently has a consensus rating of "Moderate Buy" and an average price target of $88.36.

About Unum Group

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.