CANADA LIFE ASSURANCE Co Has $10.97 Million Stock Holdings in Unum Group (NYSE:UNM)

CANADA LIFE ASSURANCE Co boosted its holdings in shares of Unum Group (NYSE:UNM) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,145 shares of the financial services provider’s stock after buying an additional 707 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.08% of Unum Group worth $10,966,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Unum Group by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider’s stock valued at $1,496,939,000 after purchasing an additional 1,596,078 shares in the last quarter. Norges Bank acquired a new position in Unum Group in the fourth quarter worth approximately $1,003,918,000. Charles Schwab Investment Management Inc. raised its position in Unum Group by 0.9% during 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 acquiring an additional 51,744 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Unum Group by 23.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock valued at $106,837,000 after acquiring an additional 276,655 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its stake in shares of Unum Group by 44.9% during the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock worth $92,383,000 after purchasing an additional 392,191 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Trading Down 2.2 %

Shares of UNM opened at $74.20 on Tuesday. The stock’s 50-day moving average price is $77.74 and its 200 day moving average price is $73.64. 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 capitalization of $13.08 billion, a price-to-earnings ratio of 7.84, a P/E/G ratio of 1.14 and a beta of 0.46. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48.

Unum Group (NYSE:UNM) last issued 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, research analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.26%. Unum Group’s dividend payout ratio (DPR) is currently 17.74%.

Unum Group declared that its Board of Directors has initiated a share buyback program 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 repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on UNM shares. Piper Sandler upped their price objective on shares of Unum Group from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Barclays boosted their target price on Unum Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 11th. Keefe, Bruyette & Woods dropped their price target on shares of Unum Group from $103.00 to $102.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price objective for the company in a report on Wednesday, March 5th. Finally, StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Five investment 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 data from MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.36.

Insider Activity at Unum Group

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the sale, the executive vice president now owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the 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 in the company, valued at approximately $80,402,427.63. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by 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.