Geode Capital Management LLC Sells 42,996 Shares of Unum Group (NYSE:UNM)

Geode Capital Management LLC lessened its holdings in Unum Group (NYSE:UNM - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,983,749 shares of the financial services provider's stock after selling 42,996 shares during the quarter. Geode Capital Management LLC owned 1.63% of Unum Group worth $217,968,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UNM. Benjamin Edwards Inc. acquired a new stake in shares of Unum Group during the 3rd quarter worth $608,000. Centiva Capital LP lifted its holdings in shares of Unum Group by 79.5% during the 3rd quarter. Centiva Capital LP now owns 8,290 shares of the financial services provider's stock worth $493,000 after acquiring an additional 3,671 shares during the period. HighTower Advisors LLC raised its holdings in shares of Unum Group by 3.9% during the 3rd quarter. HighTower Advisors LLC now owns 80,891 shares of the financial services provider's stock worth $4,811,000 after buying an additional 3,030 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Unum Group by 9.2% during the 3rd quarter. Janus Henderson Group PLC now owns 134,134 shares of the financial services provider's stock worth $7,972,000 after buying an additional 11,331 shares during the last quarter. Finally, IHT Wealth Management LLC grew its position in Unum Group by 4.8% in the third quarter. IHT Wealth Management LLC now owns 5,906 shares of the financial services provider's stock valued at $351,000 after acquiring an additional 269 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

UNM has been the subject of several research analyst reports. Raymond James upgraded shares of Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price target for the company in a report on Wednesday, March 5th. Morgan Stanley boosted their price objective on shares of Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. increased their price target on Unum Group from $81.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company boosted their target price on shares of Unum Group from $81.00 to $91.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, UBS Group boosted their price target on Unum Group from $75.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $87.79.

Unum Group Stock Performance

Shares of UNM stock traded down $3.70 on Thursday, hitting $73.19. 498,774 shares of the stock were exchanged, compared to its average volume of 1,522,648. The firm has a market capitalization of $12.94 billion, a PE ratio of 7.74, a P/E/G ratio of 1.14 and a beta of 0.46. Unum Group has a one year low of $48.38 and a one year high of $84.48. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $77.86 and its two-hundred day moving average is $72.61.

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

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.30%. Unum Group's dividend payout ratio (DPR) is currently 17.74%.

Unum Group announced that its board has initiated a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the 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 $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the business's 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 completion of the sale, the chief executive officer now owns 980,637 shares of the company's stock, valued at approximately $80,402,427.63. The trade was 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 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.