Summit Global Investments Sells 4,374 Shares of Unum Group (NYSE:UNM)

Summit Global Investments trimmed its position in Unum Group (NYSE:UNM - Free Report) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,259 shares of the financial services provider's stock after selling 4,374 shares during the quarter. Summit Global Investments' holdings in Unum Group were worth $4,547,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in UNM. Allianz Asset Management GmbH raised its stake 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 valued at $92,383,000 after purchasing an additional 392,191 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Unum Group by 151.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider's stock worth $30,297,000 after buying an additional 307,175 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Unum Group by 23.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider's stock worth $106,837,000 after buying an additional 276,655 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Unum Group during the 4th quarter valued at about $19,617,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Unum Group during the 4th quarter valued at about $11,456,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insider Transactions at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 980,637 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the transaction, the executive vice president now directly owns 31,284 shares in the company, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on UNM shares. Jefferies Financial Group boosted their price objective on Unum Group from $91.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 target price (up previously from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. BMO Capital Markets increased their price target on Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a report on Monday, March 3rd. Wells Fargo & Company lifted their price objective 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. Finally, Piper Sandler boosted their price objective on shares of Unum Group from $82.00 to $87.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Unum Group has an average rating of "Moderate Buy" and a consensus target price of $86.62.

Unum Group Trading Down 0.8 %

UNM stock traded down $0.70 during trading on Wednesday, hitting $82.34. The company had a trading volume of 1,214,408 shares, compared to its average volume of 1,184,035. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48. The company has a 50 day simple moving average of $77.35 and a 200-day simple moving average of $70.86. The firm has a market capitalization of $14.56 billion, a P/E ratio of 8.69, 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.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts' consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. As a group, research analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's management believes its shares are undervalued.

Unum Group Dividend Announcement

The company 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 dividend yield of 2.04%. The ex-dividend date was Friday, January 24th. Unum Group's dividend payout ratio is 17.74%.

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.