Unum Group (NYSE:UNM) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC reduced its holdings in Unum Group (NYSE:UNM - Free Report) by 66.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,154 shares of the financial services provider's stock after selling 6,289 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Unum Group were worth $230,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the transaction, the executive vice president now owns 31,284 shares of the company's stock, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the transaction, the chief executive officer now owns 980,637 shares of the company's stock, 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. 0.92% of the stock is owned by insiders.

Unum Group Price Performance

NYSE:UNM traded up $0.14 during trading hours on Friday, hitting $80.39. 771,460 shares of the stock were exchanged, compared to its average volume of 1,304,944. 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 52-week low of $48.38 and a 52-week high of $84.48. The company has a market cap of $14.02 billion, a P/E ratio of 8.49, a P/E/G ratio of 1.14 and a beta of 0.38. The firm's fifty day moving average price is $78.40 and its 200 day moving average price is $75.07.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.15). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. The company's revenue for the quarter was down 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

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

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.09%. The ex-dividend date is Friday, April 25th. Unum Group's payout ratio is currently 19.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of Unum Group from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. 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 research report on Friday, April 11th. Wells Fargo & Company increased their price target on shares of Unum Group from $95.00 to $97.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. UBS Group lifted their price objective on Unum Group from $75.00 to $91.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Finally, StockNews.com downgraded shares of Unum Group from a "buy" rating to a "hold" rating in a report on Friday, March 7th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.50.

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.