Unum Group (NYSE:UNM) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its position in Unum Group (NYSE:UNM) by 10.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,877 shares of the financial services provider’s stock after purchasing an additional 1,927 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Unum Group were worth $1,452,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in UNM. International Assets Investment Management LLC raised its stake in Unum Group by 5,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider’s stock valued at $6,006,000 after purchasing an additional 99,348 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Unum Group by 24.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 325,796 shares of the financial services provider’s stock worth $19,365,000 after acquiring an additional 64,062 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Unum Group by 7.1% in the 3rd quarter. Ballentine Partners LLC now owns 6,806 shares of the financial services provider’s stock worth $405,000 after acquiring an additional 452 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Unum Group by 8.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,273 shares of the financial services provider’s stock worth $6,585,000 after acquiring an additional 8,439 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Unum Group by 21.6% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 34,967 shares of the financial services provider’s stock worth $2,078,000 after acquiring an additional 6,202 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Stock Performance

Shares of Unum Group stock opened at $74.07 on Friday. The business has a 50-day moving average of $74.28 and a 200 day moving average of $66.85. Unum Group has a 12 month low of $48.38 and a 12 month high of $79.43. The stock has a market capitalization of $13.53 billion, a price-to-earnings ratio of 7.82, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS 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%. As a group, sell-side analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is 17.74%.

Unum Group declared that its Board of Directors has initiated 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 stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts have issued reports on UNM shares. Morgan Stanley raised their target price on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Piper Sandler raised their target price on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Wells Fargo & Company raised their target price on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 target price (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.17.

Insider Activity at Unum Group

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the transaction, the executive vice president now owns 54,827 shares in the company, valued at approximately $4,217,292.84. This trade represents a 15.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.93% of the stock is currently owned by company insiders.

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.