Unum Group (NYSE:UNM) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in Unum Group (NYSE:UNM) by 80.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,973 shares of the financial services provider’s stock after selling 33,265 shares during the quarter. Cresset Asset Management LLC’s holdings in Unum Group were worth $582,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in Unum Group by 2.2% in the 4th quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider’s stock valued at $478,000 after purchasing an additional 143 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its holdings in Unum Group by 0.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider’s stock valued at $1,330,000 after purchasing an additional 147 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Unum Group by 28.8% in 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 purchasing an additional 179 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Unum Group by 1.4% in the 4th quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock valued at $974,000 after purchasing an additional 189 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its holdings in Unum Group by 2.1% in the 4th quarter. Belpointe Asset Management LLC now owns 9,151 shares of the financial services provider’s stock valued at $668,000 after purchasing an additional 189 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Trading Up 0.1%

Shares of NYSE:UNM opened at $80.98 on Wednesday. Unum Group has a 52 week low of $48.38 and a 52 week high of $84.48. The company’s 50 day moving average is $78.42 and its two-hundred day moving average is $75.40. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The company has a market cap of $14.12 billion, a PE ratio of 8.55, a P/E/G ratio of 1.14 and a beta of 0.38.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.15). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.34 billion. During the same period in the prior year, the company posted $2.12 earnings per share. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, April 25th. Unum Group’s dividend payout ratio (DPR) is 19.79%.

Unum Group declared that its board has approved a share buyback 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 purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on UNM. UBS Group boosted their target price on shares of Unum Group from $75.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday, April 2nd. StockNews.com lowered shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays upped their price objective on shares of Unum Group from $85.00 to $89.00 and gave the stock an “overweight” rating in a report on Friday, April 11th. Piper Sandler upped their price objective on shares of Unum Group from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Finally, Morgan Stanley upped their price objective on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. 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’s stock. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and an average price target of $88.50.

Insider Activity at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the transaction, the executive vice president now directly owns 51,170 shares of the company’s stock, valued at $4,093,600. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 31,284 shares in the company, 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. Insiders have sold 67,000 shares of company stock valued at $5,478,750 in the last ninety days. Insiders own 0.92% of the company’s stock.

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.