FMR LLC trimmed its stake in shares of Unum Group (NYSE:UNM - Free Report) by 34.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,446,698 shares of the financial services provider's stock after selling 4,523,552 shares during the period. FMR LLC owned about 4.63% of Unum Group worth $616,862,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in Unum Group by 3.9% in the 3rd quarter. HighTower Advisors LLC now owns 80,891 shares of the financial services provider's stock valued at $4,811,000 after buying an additional 3,030 shares during the last quarter. IHT Wealth Management LLC lifted its position in Unum Group by 4.8% during the third quarter. IHT Wealth Management LLC now owns 5,906 shares of the financial services provider's stock worth $351,000 after acquiring an additional 269 shares during the last quarter. Quarry LP boosted its stake in Unum Group by 4,794.7% in the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider's stock valued at $55,000 after purchasing an additional 911 shares during the period. Stifel Financial Corp boosted its position in shares of Unum Group by 9.0% in the third quarter. Stifel Financial Corp now owns 223,463 shares of the financial services provider's stock valued at $13,283,000 after acquiring an additional 18,540 shares during the period. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Unum Group in the third quarter valued at about $1,074,000. 86.57% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have issued reports on UNM shares. JPMorgan Chase & Co. boosted their price objective on shares of Unum Group from $81.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, April 2nd. Raymond James upgraded Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price target for the company in a research note on Wednesday, March 5th. UBS Group raised their price objective on Unum Group from $75.00 to $91.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. Barclays upped their target price on Unum Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Keefe, Bruyette & Woods decreased their price target on Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Five research 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.36.
Get Our Latest Report on UNM
Unum Group Price Performance
Shares of UNM stock traded up $2.13 on Monday, reaching $77.39. The company had a trading volume of 158,370 shares, compared to its average volume of 1,281,448. The stock has a market capitalization of $13.68 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46. 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 business's 50-day moving average is $77.80 and its 200 day moving average is $72.95. Unum Group has a one year low of $48.38 and a one year high of $84.48.
Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share 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%. Equities research analysts forecast that Unum Group will post 9.14 EPS for the current fiscal year.
Unum Group Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a $0.42 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.17%. Unum Group's payout ratio is presently 17.74%.
Unum Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Insider Buying and Selling at Unum Group
In related news, EVP Lisa G. Iglesias sold 7,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. This trade represents a 18.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % 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.
Unum Group Profile
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Free Report)
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.
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