Corebridge Financial Inc. Sells 12,018 Shares of Unum Group (NYSE:UNM)

Corebridge Financial Inc. lessened its holdings in Unum Group (NYSE:UNM) by 5.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 190,194 shares of the financial services provider’s stock after selling 12,018 shares during the period. Corebridge Financial Inc. owned 0.10% of Unum Group worth $13,890,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of 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 in the last quarter. Allianz Asset Management GmbH grew its holdings in 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 valued at $92,383,000 after buying an additional 392,191 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Unum Group by 151.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock valued at $30,297,000 after buying an additional 307,175 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of 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 worth $106,837,000 after buying an additional 276,655 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Unum Group in the fourth quarter worth $19,617,000. 86.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Jefferies Financial Group lifted their price target on shares of Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 target price (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Barclays boosted 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. StockNews.com cut Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Morgan Stanley upped their price objective on Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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 shares were 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 in the company, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a 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 dated Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. This represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Unum Group Trading Down 0.4 %

UNM stock opened at $83.03 on Wednesday. Unum Group has a twelve month low of $48.38 and a twelve month high of $84.48. The stock has a market capitalization of $14.68 billion, a price-to-earnings ratio of 8.77, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. 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’s fifty day simple moving average is $77.15 and its two-hundred day simple moving average is $70.66.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 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%. As a group, analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The firm 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 dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio is currently 17.74%.

Unum Group declared that its Board of Directors has initiated a stock repurchase program 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 buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Unum Group 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.