Nichols & Pratt Advisers LLP MA Invests $239,000 in Unum Group (NYSE:UNM)

Nichols & Pratt Advisers LLP MA purchased a new position in shares of Unum Group (NYSE:UNM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,270 shares of the financial services provider's stock, valued at approximately $239,000.

Several other hedge funds have also made changes to their positions in the business. Allianz Asset Management GmbH lifted its position in 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 worth $92,383,000 after buying an additional 392,191 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of Unum Group by 151.7% during the 3rd 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. Proficio Capital Partners LLC purchased a new position in shares of Unum Group during the 4th quarter worth about $11,456,000. Franklin Resources Inc. boosted its position in shares of Unum Group by 50.0% in the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider's stock worth $29,554,000 after acquiring an additional 156,380 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Unum Group by 5,844.0% in the third quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider's stock worth $6,006,000 after acquiring an additional 99,348 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

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Analyst Ratings Changes

A number of research firms have weighed in on UNM. Wells Fargo & Company increased their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Piper Sandler raised their price target on shares of Unum Group from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. StockNews.com downgraded shares of Unum Group from a "buy" rating to a "hold" rating in a research note on Monday, February 24th. BMO Capital Markets upped their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Monday. Finally, Jefferies Financial Group raised their price objective on Unum Group from $91.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $86.62.

Unum Group Stock Up 4.4 %

UNM stock traded up $3.43 during midday trading on Wednesday, hitting $81.34. 2,398,439 shares of the company's stock were exchanged, compared to its average volume of 1,151,342. The firm has a 50 day moving average price of $75.20 and a 200-day moving average price of $68.18. Unum Group has a 12-month low of $48.38 and a 12-month high of $83.96. The stock has a market capitalization of $14.85 billion, a price-to-earnings ratio of 8.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. 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 quarterly 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%. On average, analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.07%. The ex-dividend date was Friday, January 24th. Unum Group's dividend payout ratio is currently 17.74%.

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

Insider Buying and Selling at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 980,637 shares of the company's stock, valued at $80,402,427.63. This represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now directly owns 31,284 shares in the company, valued at $2,588,751. This represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

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.