Barnett & Company Inc. Reduces Stake in Unum Group (NYSE:UNM)

Barnett & Company Inc. decreased its stake in shares of Unum Group (NYSE:UNM) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 146,182 shares of the financial services provider’s stock after selling 660 shares during the quarter. Unum Group comprises 7.0% of Barnett & Company Inc.’s investment portfolio, making the stock its biggest position. Barnett & Company Inc.’s holdings in Unum Group were worth $10,676,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position 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 worth $1,496,939,000 after purchasing an additional 1,596,078 shares during the period. LPL Financial LLC raised its position in shares of Unum Group by 5.3% in the 4th quarter. LPL Financial LLC now owns 297,229 shares of the financial services provider’s stock valued at $21,707,000 after buying an additional 14,890 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Unum Group during the 4th quarter worth approximately $4,542,000. Hillsdale Investment Management Inc. boosted its position in shares of Unum Group by 3.1% during the 4th quarter. Hillsdale Investment Management Inc. now owns 13,250 shares of the financial services provider’s stock worth $968,000 after acquiring an additional 400 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Unum Group by 7.9% in the fourth quarter. Sei Investments Co. now owns 397,302 shares of the financial services provider’s stock valued at $29,015,000 after acquiring an additional 29,148 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

Unum Group Stock Performance

Shares of Unum Group stock opened at $81.54 on Monday. The firm’s 50-day moving average is $76.93 and its 200 day moving average is $70.46. 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 $83.96. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 1.14 and a beta of 0.74.

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

Unum Group Dividend Announcement

The company also recently declared 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 yield of 2.06%. The ex-dividend date was Friday, January 24th. Unum Group’s payout ratio is presently 17.74%.

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

Wall Street Analysts Forecast Growth

UNM has been the subject of several recent analyst reports. 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 research report on Friday, February 28th. Jefferies Financial Group raised their price target on shares of Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. BMO Capital Markets upped their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Finally, 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 note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $86.62.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 980,637 shares in the company, valued at $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s 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 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 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.