Comerica Bank Trims Holdings in Unum Group (NYSE:UNM)

Comerica Bank reduced its stake in shares of Unum Group (NYSE:UNM - Free Report) by 10.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,075 shares of the financial services provider's stock after selling 12,755 shares during the quarter. Comerica Bank owned approximately 0.06% of Unum Group worth $7,893,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Barrett & Company Inc. boosted its position 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 buying an additional 297 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Unum Group in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new position in Unum Group in the fourth quarter worth approximately $45,000. Versant Capital Management Inc increased its holdings in 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 purchasing an additional 160 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in 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 in the last quarter. 86.57% of the stock is currently owned by institutional investors.

Unum Group Stock Up 2.9 %

Unum Group stock opened at $79.67 on Friday. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The business has a fifty day moving average price of $78.42 and a 200-day moving average price of $74.58. 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 stock has a market capitalization of $14.04 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.14 and a beta of 0.38.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly 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 business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period in the prior year, the business posted $2.12 EPS. Unum Group's revenue was down 3.4% compared to the same quarter last year. Equities research analysts forecast that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its board has initiated a share 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 purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Shareholders 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 2.11%. The ex-dividend date is Friday, April 25th. Unum Group's dividend payout ratio is presently 19.79%.

Insider Buying and Selling at Unum Group

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the business's 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 sale, the executive vice president now directly owns 31,284 shares of the company's stock, valued at $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was 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 of the company's stock, valued at $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 currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on UNM shares. StockNews.com lowered Unum Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Barclays raised their target price on shares of Unum Group from $85.00 to $89.00 and gave the company an "overweight" rating in a research report on Friday, April 11th. Keefe, Bruyette & Woods lowered their price target on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Piper Sandler lifted their price objective on shares of Unum Group from $87.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, BMO Capital Markets boosted their price objective on shares of Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a research note on Monday, March 3rd. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.