Vanguard Group Inc. Boosts Stake in Unum Group (NYSE:UNM)

Vanguard Group Inc. raised its position in Unum Group (NYSE:UNM) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,497,586 shares of the financial services provider’s stock after purchasing an additional 1,596,078 shares during the quarter. Vanguard Group Inc. owned 11.22% of Unum Group worth $1,496,939,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of UNM. Franklin Resources Inc. grew its stake in Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after buying an additional 156,380 shares during the period. Blue Trust Inc. lifted its holdings in shares of Unum Group by 44.1% during the 4th quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock valued at $1,205,000 after acquiring an additional 5,047 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in Unum Group during the 3rd quarter worth $1,074,000. Picton Mahoney Asset Management acquired a new stake in Unum Group in the 4th quarter valued at $8,816,000. Finally, Charles Schwab Investment Management Inc. raised its position in Unum Group by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock valued at $405,481,000 after purchasing an additional 51,744 shares during the period. 86.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on UNM shares. Wells Fargo & Company increased their target price on Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods lifted their price target on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Morgan Stanley upped their price objective on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. BMO Capital Markets lifted their target price on Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Finally, Raymond James raised 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. Five equities 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.62.

Unum Group Trading Down 0.6 %

NYSE:UNM opened at $81.87 on Friday. The company has a market cap of $14.47 billion, a PE ratio of 8.65, a P/E/G ratio of 1.14 and a beta of 0.74. The business’s 50 day moving average is $77.69 and its two-hundred day moving average is $71.02. 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 has a 52 week low of $48.38 and a 52 week high of $84.48.

Unum Group (NYSE:UNM) last announced its quarterly earnings data 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%. On average, analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Unum Group declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the firm’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 value of $4,099,500.00. Following the sale, the chief executive officer now owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the business’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 transaction, the executive vice president now owns 31,284 shares of the company’s stock, valued at $2,588,751. This represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

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.