Patten Group Inc. Has $473,000 Holdings in Unum Group (NYSE:UNM)

Patten Group Inc. cut its position in Unum Group (NYSE:UNM) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,480 shares of the financial services provider’s stock after selling 751 shares during the quarter. Patten Group Inc.’s holdings in Unum Group were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UNM. Charles Schwab Investment Management Inc. grew its position in Unum Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock worth $405,481,000 after purchasing an additional 51,744 shares during the last quarter. Allianz Asset Management GmbH grew its position in Unum Group by 44.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock worth $92,383,000 after purchasing an additional 392,191 shares during the last quarter. Victory Capital Management Inc. grew its position in Unum Group by 5.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,186,262 shares of the financial services provider’s stock worth $70,511,000 after purchasing an additional 66,392 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in Unum Group by 151.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after purchasing an additional 307,175 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Unum Group by 50.0% in the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after purchasing an additional 156,380 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Unum Group

In other Unum Group news, 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 completion of the sale, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the firm’s 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 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 Trading Down 4.2 %

Shares of UNM stock opened at $77.95 on Wednesday. Unum Group has a 12-month low of $48.38 and a 12-month high of $83.96. The company has a market capitalization of $14.23 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.14 and a beta of 0.80. The firm has a 50-day moving average price of $75.10 and a 200 day moving average price of $68.02. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last announced its quarterly earnings results 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%. Research analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s payout ratio is presently 17.74%.

Analysts Set New Price Targets

UNM has been the topic of several research analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and issued a $79.00 price target (up from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Piper Sandler raised their price target on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods raised their price objective on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Barclays raised their price objective on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group raised their price objective on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.83.

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.