New York Life Investment Management LLC Cuts Stake in Unum Group (NYSE:UNM)

New York Life Investment Management LLC trimmed its position in shares of Unum Group (NYSE:UNM) by 9.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,587 shares of the financial services provider’s stock after selling 2,125 shares during the quarter. New York Life Investment Management LLC’s holdings in Unum Group were worth $1,430,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in shares of Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 160 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Unum Group by 28.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock valued at $58,000 after acquiring an additional 179 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Unum Group by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock valued at $330,000 after acquiring an additional 180 shares during the last quarter. Brooklyn Investment Group boosted its holdings in shares of Unum Group by 3.1% during the 3rd quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 197 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Unum Group by 0.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,568,000 after acquiring an additional 202 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Price Performance

NYSE UNM opened at $81.29 on Tuesday. The stock has a market cap of $14.84 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 1.14 and a beta of 0.80. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12 month low of $48.38 and a 12 month high of $83.96. The company’s 50 day moving average is $74.93 and its two-hundred day moving average is $67.83.

Unum Group (NYSE:UNM) last released 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 anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its board has authorized a share repurchase 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 purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s payout ratio is currently 17.74%.

Analyst Upgrades and Downgrades

UNM has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Piper Sandler increased their price objective 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. Finally, StockNews.com cut shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Unum Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.83.

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.