Unum Group (NYSE:UNM) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in Unum Group (NYSE:UNM) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,223 shares of the financial services provider’s stock after selling 678 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Unum Group were worth $747,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $405,481,000 after purchasing an additional 51,744 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Unum Group by 23.3% in 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 last quarter. Allianz Asset Management GmbH lifted its stake in shares of 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 period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Unum Group by 151.7% during 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 last quarter. Finally, Franklin Resources Inc. increased its position in shares of Unum Group by 50.0% in the 3rd 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 period. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Stock Performance

NYSE UNM opened at $83.31 on Tuesday. 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 twelve month low of $48.38 and a twelve month high of $83.96. The stock has a 50-day moving average of $77.15 and a 200 day moving average of $70.66. The stock has a market capitalization of $14.73 billion, a price-to-earnings ratio of 8.80, a PEG ratio of 1.14 and a beta of 0.74.

Unum Group (NYSE:UNM) last announced its 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%. Sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.02%. Unum Group’s dividend payout ratio is currently 17.74%.

Unum Group announced that its Board of Directors has approved a share buyback 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 repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

UNM has been the subject of a number of research reports. Jefferies Financial Group lifted their price target on Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley increased their price target 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. Keefe, Bruyette & Woods lifted their price objective on shares of Unum Group from $90.00 to $103.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Barclays increased their price objective on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Finally, Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target on the stock in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.62.

Insider Buying and Selling

In other Unum Group news, 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 transaction of $579,250.00. Following the completion of the sale, the executive vice president now directly owns 31,284 shares in the company, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the firm’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 completion of the transaction, 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 disclosure for this sale can be found here. 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.