Financial Counselors Inc. Acquires Shares of 3,285 Unum Group (NYSE:UNM)

Financial Counselors Inc. bought a new position in Unum Group (NYSE:UNM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,285 shares of the financial services provider’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barrett & Company Inc. increased its holdings in shares of Unum Group by 300.0% in the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after buying an additional 297 shares during the last quarter. Kestra Investment Management LLC bought a new stake in Unum Group during the fourth quarter worth approximately $38,000. Millstone Evans Group LLC bought a new stake in Unum Group during the fourth quarter worth approximately $45,000. Versant Capital Management Inc raised its position in Unum Group by 26.4% during the fourth 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 during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Unum Group by 28.8% in 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 during the last quarter. 86.57% of the stock is owned by institutional investors.

Unum Group Stock Performance

Shares of UNM stock opened at $79.95 on Friday. 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 firm has a market cap of $14.13 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.14 and a beta of 0.74. The company’s 50 day moving average is $77.78 and its 200 day moving average is $71.32. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48.

Unum Group (NYSE:UNM) last released its quarterly 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%. On average, sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its board has initiated a share repurchase program on Tuesday, February 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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 paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.10%. Unum Group’s payout ratio is 17.74%.

Insiders Place Their Bets

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction 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 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 legal filing with the SEC, which is available at this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. 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 research note on Wednesday, March 5th. Piper Sandler upped their price objective on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods lifted their target price on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Finally, BMO Capital Markets upped their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.62.

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.