Investors Research Corp Lowers Holdings in Unum Group (NYSE:UNM)

Investors Research Corp decreased its stake in Unum Group (NYSE:UNM - Free Report) by 29.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,376 shares of the financial services provider's stock after selling 10,224 shares during the quarter. Investors Research Corp's holdings in Unum Group were worth $1,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc raised its position in Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in Unum Group by 28.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider's stock valued at $58,000 after purchasing an additional 179 shares in the last quarter. CIBC Asset Management Inc raised its position in Unum Group by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider's stock valued at $330,000 after purchasing an additional 180 shares in the last quarter. QRG Capital Management Inc. raised its position in Unum Group by 1.4% during the 4th quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider's stock valued at $974,000 after purchasing an additional 189 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in Unum Group by 3.1% during the 3rd quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider's stock valued at $392,000 after purchasing an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Remove Ads

Insider Buying and Selling at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the business's stock in a transaction dated 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. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company's stock in a transaction dated 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 owns 31,284 shares in the company, valued at $2,588,751. The trade was a 18.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company's stock.

Unum Group Stock Down 1.2 %

UNM stock traded down $0.95 on Wednesday, hitting $77.67. 1,339,202 shares of the company's stock were exchanged, compared to its average volume of 1,153,446. Unum Group has a 12-month low of $48.38 and a 12-month high of $83.96. The firm has a 50 day moving average price of $75.79 and a two-hundred day moving average price of $69.06. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The stock has a market cap of $13.73 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly 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%. As a group, equities research analysts expect that Unum Group will post 9.14 EPS for the current fiscal year.

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

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.16%. Unum Group's payout ratio is presently 17.74%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on UNM shares. 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 report on Thursday, February 6th. Evercore ISI raised Unum Group from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Morgan Stanley boosted their price target on Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their price target on Unum Group from $81.00 to $91.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 19th. Finally, StockNews.com lowered Unum Group from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Unum Group has a consensus rating of "Moderate Buy" and an average target price of $86.62.

Unum Group 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.