Pictet Asset Management Holding SA Buys 896 Shares of Unum Group (NYSE:UNM)

Pictet Asset Management Holding SA grew its stake in shares of Unum Group (NYSE:UNM) by 3.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,280 shares of the financial services provider’s stock after acquiring an additional 896 shares during the period. Pictet Asset Management Holding SA’s holdings in Unum Group were worth $1,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of UNM. Barrett & Company Inc. increased its holdings in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 297 shares during the period. Kestra Investment Management LLC bought a new position in shares of Unum Group in the fourth quarter worth $38,000. Millstone Evans Group LLC purchased a new stake in shares of Unum Group in the fourth quarter worth $45,000. Versant Capital Management Inc boosted its stake in Unum Group by 26.4% during the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock valued at $56,000 after buying an additional 160 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in Unum Group by 28.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after buying an additional 179 shares in the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Trading Down 10.2 %

NYSE UNM opened at $71.14 on Friday. The firm has a market cap of $12.58 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The stock has a 50-day moving average of $78.19 and a 200-day moving average of $72.06. 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 (NYSE:UNM) last announced its quarterly earnings data 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 net margin of 13.81% and a return on equity of 14.91%. As a group, sell-side analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Unum Group announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on UNM shares. Jefferies Financial Group raised their price target on 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. boosted their price target on shares of Unum Group from $81.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets raised their price objective on shares of Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods upped their target price 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. Finally, Piper Sandler increased their target price on Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday. Five 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.86.

Insider Buying and Selling at Unum Group

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction dated 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total value of $4,099,500.00. Following the transaction, the chief executive officer now directly owns 980,637 shares of the company’s stock, valued at $80,402,427.63. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

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.