Raymond James Financial Inc. Invests $19.62 Million in Unum Group (NYSE:UNM)

Raymond James Financial Inc. bought a new position in shares of Unum Group (NYSE:UNM - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 268,612 shares of the financial services provider's stock, valued at approximately $19,617,000. Raymond James Financial Inc. owned about 0.15% of Unum Group at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its stake in shares of Unum Group by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider's stock valued at $405,481,000 after buying an additional 51,744 shares during the period. Victory Capital Management Inc. increased its stake in shares of Unum Group by 23.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider's stock valued at $106,837,000 after buying an additional 276,655 shares during the period. Allianz Asset Management GmbH increased its stake in shares of 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 valued at $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 third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider's stock valued at $30,297,000 after buying an additional 307,175 shares during the period. Finally, Franklin Resources Inc. grew its stake in Unum Group by 50.0% in the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider's stock valued at $29,554,000 after purchasing an additional 156,380 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

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Insider Activity

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the firm's 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 in the company, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 owns 980,637 shares in the company, valued at $80,402,427.63. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company's stock.

Unum Group Stock Performance

Shares of NYSE UNM traded down $0.34 during midday trading on Thursday, reaching $81.05. 1,191,292 shares of the stock were exchanged, compared to its average volume of 1,145,515. Unum Group has a twelve month low of $48.38 and a twelve month high of $83.96. The firm has a market cap of $14.33 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 1.14 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $76.40 and a two-hundred day simple moving average of $69.91.

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

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

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. Unum Group's dividend payout ratio (DPR) is 17.74%.

Wall Street Analysts Forecast Growth

UNM has been the topic of several analyst reports. Morgan Stanley lifted their target price on Unum Group from $80.00 to $84.00 and gave the company an "equal weight" rating in a research note on Friday, February 28th. BMO Capital Markets lifted their target price on Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. StockNews.com lowered Unum Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Jefferies Financial Group lifted their target price on Unum Group from $91.00 to $96.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler lifted their target price on Unum Group from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Five research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $86.62.

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.