Edgestream Partners L.P. Purchases Shares of 131,948 Unum Group (NYSE:UNM)

Edgestream Partners L.P. purchased a new position in shares of Unum Group (NYSE:UNM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 131,948 shares of the financial services provider’s stock, valued at approximately $9,636,000. Unum Group accounts for 0.4% of Edgestream Partners L.P.’s investment portfolio, making the stock its 15th largest holding. Edgestream Partners L.P. owned 0.07% of Unum Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of UNM. Charles Schwab Investment Management Inc. increased its position in Unum Group by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider’s stock valued at $405,481,000 after purchasing an additional 51,744 shares during the period. Victory Capital Management Inc. increased its position in shares of Unum Group by 23.3% during 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 buying an additional 276,655 shares during the period. Allianz Asset Management GmbH raised its stake 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 worth $92,383,000 after buying an additional 392,191 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted 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 during the period. Finally, Franklin Resources Inc. boosted its position in Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock valued at $29,554,000 after acquiring an additional 156,380 shares during the last quarter. Institutional investors own 86.57% of the company’s stock.

Insiders Place Their Bets

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This trade represents a 4.85 % 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 business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. The trade was a 18.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

UNM has been the subject of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a report on Friday. Barclays boosted their price target on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price objective for the company in a research report on Wednesday. Finally, Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $67.00 to $84.00 in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Unum Group has a consensus rating of “Moderate Buy” and a consensus price target of $86.62.

Unum Group Stock Down 2.2 %

Shares of NYSE UNM opened at $79.49 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The company has a 50-day moving average price of $75.36 and a 200-day moving average price of $68.27. The stock has a market capitalization of $14.52 billion, a P/E ratio of 8.39, a P/E/G ratio of 1.14 and a beta of 0.80. Unum Group has a 1 year low of $48.38 and a 1 year high of $83.96.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, equities research analysts forecast that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its Board of Directors has initiated 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 buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are generally a sign 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 paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

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.