Unum Group (NYSE:UNM) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Unum Group (NYSE:UNM - Free Report) by 14.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 711,866 shares of the financial services provider's stock after purchasing an additional 88,142 shares during the period. JPMorgan Chase & Co. owned about 0.39% of Unum Group worth $51,988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of UNM. Franklin Resources Inc. increased its stake in Unum Group by 50.0% in the 3rd 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. Blue Trust Inc. increased its stake in Unum Group by 44.1% in the 4th quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider's stock worth $1,205,000 after acquiring an additional 5,047 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in Unum Group in the 3rd quarter worth approximately $1,074,000. Picton Mahoney Asset Management bought a new stake in Unum Group in the 4th quarter worth approximately $8,816,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Unum Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider's stock worth $405,481,000 after acquiring an additional 51,744 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UNM. Morgan Stanley lifted their price objective on Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. Wells Fargo & Company boosted their target price on Unum Group from $81.00 to $91.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. boosted their target price on Unum Group from $81.00 to $87.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. BMO Capital Markets boosted their target price on Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Finally, Piper Sandler boosted their target price on 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $87.79.

Remove Ads

Insider Activity at Unum Group

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 31,284 shares of the company's stock, valued at approximately $2,588,751. This represents a 18.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 of the company's stock, valued at approximately $80,402,427.63. This represents 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 Price Performance

UNM stock traded down $1.45 during mid-day trading on Thursday, reaching $75.44. 307,228 shares of the company's stock were exchanged, compared to its average volume of 1,518,835. The company has a market cap of $13.34 billion, a price-to-earnings ratio of 7.97, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. The stock's 50 day moving average is $77.86 and its 200 day moving average is $72.61. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48.

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

Unum Group announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in 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 generally an indication that the company's management believes its stock is undervalued.

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.