Point72 Hong Kong Ltd Raises Position in Unum Group (NYSE:UNM)

Point72 Hong Kong Ltd grew its position in Unum Group (NYSE:UNM - Free Report) by 1,248.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,460 shares of the financial services provider's stock after acquiring an additional 46,719 shares during the quarter. Point72 Hong Kong Ltd's holdings in Unum Group were worth $2,999,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Erste Asset Management GmbH acquired a new stake in shares of Unum Group in the third quarter valued at approximately $516,000. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Unum Group during the third quarter worth $3,310,000. Captrust Financial Advisors increased its stake in Unum Group by 2.1% during the third quarter. Captrust Financial Advisors now owns 211,660 shares of the financial services provider's stock worth $12,581,000 after acquiring an additional 4,349 shares during the last quarter. Bridgewater Associates LP increased its stake in Unum Group by 32.0% during the third quarter. Bridgewater Associates LP now owns 226,149 shares of the financial services provider's stock worth $13,442,000 after acquiring an additional 54,880 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Unum Group by 12.5% in the third quarter. Townsquare Capital LLC now owns 12,136 shares of the financial services provider's stock valued at $721,000 after buying an additional 1,350 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Insider Transactions at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the sale, the chief executive officer now owns 1,065,868 shares of the company's stock, valued at approximately $58,601,422.64. This represents a 5.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher W. Pyne sold 3,250 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total value of $227,565.00. Following the completion of the sale, the executive vice president now directly owns 50,762 shares in the company, valued at approximately $3,554,355.24. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 165,709 shares of company stock valued at $10,956,914 in the last quarter. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Stock Performance

UNM stock traded down $0.53 during trading on Monday, hitting $76.37. The company had a trading volume of 283,992 shares, compared to its average volume of 1,249,342. The firm has a market cap of $13.95 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.76. Unum Group has a 1-year low of $42.09 and a 1-year high of $77.63. The firm has a 50-day moving average price of $65.87 and a 200-day moving average price of $57.56. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. On average, analysts expect that Unum Group will post 8.53 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.20%. The ex-dividend date was Friday, October 25th. Unum Group's dividend payout ratio (DPR) is 18.18%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on UNM shares. Barclays lifted their price objective on Unum Group from $72.00 to $74.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their target price on Unum Group from $62.00 to $64.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. UBS Group upgraded Unum Group to a "hold" rating in a report on Wednesday, October 9th. Piper Sandler reiterated an "overweight" rating and issued a $66.00 target price (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Finally, Bank of America lifted their target price on Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.73.

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.