Arrowstreet Capital Limited Partnership Sells 1,293,818 Shares of Unum Group (NYSE:UNM)

Arrowstreet Capital Limited Partnership reduced its stake in shares of Unum Group (NYSE:UNM) by 43.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,708,327 shares of the financial services provider’s stock after selling 1,293,818 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Unum Group were worth $124,759,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Unum Group by 8.4% during 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 during the period. Norges Bank bought a new position in shares of Unum Group during the 4th quarter worth $1,003,918,000. Charles Schwab Investment Management Inc. increased its holdings in Unum Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock worth $405,481,000 after acquiring an additional 51,744 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Unum Group by 23.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock worth $106,837,000 after acquiring an additional 276,655 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Unum Group by 44.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock valued at $92,383,000 after acquiring an additional 392,191 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insider Activity

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the 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 approximately $2,588,751. This represents a 18.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Unum Group Stock Down 2.4 %

Shares of NYSE:UNM opened at $79.95 on Monday. The stock’s 50-day moving average is $77.78 and its 200 day moving average is $71.32. The company has a market cap of $14.13 billion, a PE ratio of 8.44, a P/E/G ratio of 1.14 and a beta of 0.74. 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 1 year low of $48.38 and a 1 year high of $84.48.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. Sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.10%. Unum Group’s dividend payout ratio is 17.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on UNM shares. Keefe, Bruyette & Woods upped their price objective on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Morgan Stanley increased their price target on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Jefferies Financial Group boosted their price objective on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a report on Wednesday, March 5th. Finally, Wells Fargo & Company boosted their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and an average 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.