Financial Counselors Inc. Takes Position in Unum Group (NYSE:UNM)

Financial Counselors Inc. bought a new position in shares of Unum Group (NYSE:UNM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 3,285 shares of the financial services provider’s stock, valued at approximately $240,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Unum Group by 8.4% during the 4th 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. Allianz Asset Management GmbH grew its position in Unum Group by 44.9% during the fourth 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 during the period. Jacobs Levy Equity Management Inc. increased its holdings in Unum Group by 151.7% in 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 in the last quarter. Victory Capital Management Inc. raised its position 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 acquiring an additional 276,655 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Unum Group during the 4th quarter worth about $19,617,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Trading Down 2.4 %

Shares of Unum Group stock opened at $79.95 on Friday. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48. The stock has a 50 day moving average of $77.78 and a 200 day moving average of $71.32. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 1.14 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29.

Unum Group (NYSE:UNM) last issued its quarterly earnings data 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%. As a group, research analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued 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 currently 17.74%.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on UNM shares. Jefferies Financial Group lifted their price target on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Raymond James raised 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. Keefe, Bruyette & Woods upped their price objective on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Morgan Stanley lifted their target price 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. Finally, Wells Fargo & Company upped their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.62.

Insider Buying and Selling

In related news, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction 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. The trade was a 4.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the firm’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 transaction, the executive vice president now owns 31,284 shares of the company’s stock, valued at $2,588,751. This trade 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 currently owned by corporate insiders.

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.