AlphaQuest LLC Sells 34,941 Shares of Unum Group (NYSE:UNM)

AlphaQuest LLC reduced its position in shares of Unum Group (NYSE:UNM) by 84.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,526 shares of the financial services provider’s stock after selling 34,941 shares during the period. AlphaQuest LLC’s holdings in Unum Group were worth $477,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Barrett & Company Inc. raised its position in Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 297 shares during the period. Kestra Investment Management LLC bought a new stake in Unum Group in the fourth quarter worth about $38,000. Quarry LP raised its position in Unum Group by 4,794.7% in the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 911 shares during the period. Versant Capital Management Inc raised its position in Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 160 shares during the period. Finally, Live Oak Investment Partners purchased a new position in shares of Unum Group in the third quarter worth about $58,000. Institutional investors own 86.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Raymond James upgraded shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price for the company in a research note on Wednesday, March 5th. StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Jefferies Financial Group lifted their target price on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Keefe, Bruyette & Woods lifted their target price 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. Finally, Piper Sandler lifted their target price on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.62.

Unum Group Price Performance

UNM stock opened at $77.67 on Thursday. 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 has a one year low of $48.38 and a one year high of $83.96. The stock has a market cap of $13.73 billion, a PE ratio of 8.20, a P/E/G ratio of 1.14 and a beta of 0.74. The firm has a 50 day simple moving average of $75.79 and a two-hundred day simple moving average of $69.06.

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

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a yield of 2.16%. Unum Group’s dividend payout ratio is presently 17.74%.

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

Insiders Place Their Bets

In other news, 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 completion of the sale, the executive vice president now directly owns 31,284 shares in the company, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’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 transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

About Unum Group

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.