Concurrent Investment Advisors LLC Increases Stake in Unum Group (NYSE:UNM)

Concurrent Investment Advisors LLC grew its stake in Unum Group (NYSE:UNM) by 10.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,877 shares of the financial services provider’s stock after buying an additional 1,927 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Unum Group were worth $1,452,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in UNM. International Assets Investment Management LLC raised its position in shares of Unum Group by 5,844.0% during the 3rd quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider’s stock worth $6,006,000 after acquiring an additional 99,348 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Unum Group by 24.5% during 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 in the last quarter. Ballentine Partners LLC raised its position in shares of Unum Group by 7.1% during 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Unum Group by 8.1% during 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Unum Group by 21.6% during 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 in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Stock Down 1.0 %

UNM opened at $74.07 on Friday. The business’s fifty day moving average is $74.28 and its two-hundred day moving average is $66.85. 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 company has a market cap of $13.53 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 1.14 and a beta of 0.80. Unum Group has a one year low of $48.38 and a one year high of $79.43.

Unum Group (NYSE:UNM) last posted 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 return on equity of 14.91% and a net margin of 13.81%. Analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Dividend Announcement

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

Unum Group announced that its board has approved a share repurchase plan on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UNM. Barclays raised their target price on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. Morgan Stanley lifted their price target on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $79.00 price target (up previously from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Truist Financial lifted their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Unum Group has a consensus rating of “Moderate Buy” and a consensus price target of $81.17.

Insider Activity at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total transaction of $769,200.00. Following the sale, the executive vice president now owns 54,827 shares of the company’s stock, valued at $4,217,292.84. This trade represents a 15.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.