California State Teachers Retirement System Sells 15,330 Shares of Unum Group (NYSE:UNM)

California State Teachers Retirement System trimmed its stake in shares of Unum Group (NYSE:UNM - Free Report) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,533 shares of the financial services provider's stock after selling 15,330 shares during the quarter. California State Teachers Retirement System owned about 0.09% of Unum Group worth $12,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Picton Mahoney Asset Management bought a new stake in Unum Group during the fourth quarter worth approximately $8,816,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Unum Group during the 4th quarter valued at $105,199,000. Charles Schwab Investment Management Inc. raised its stake 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 worth $405,481,000 after buying an additional 51,744 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Unum Group in the 4th quarter worth $341,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Unum Group in the fourth quarter valued at $230,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Stock Up 0.2%

Shares of UNM traded up $0.19 during mid-day trading on Monday, reaching $81.90. The company's stock had a trading volume of 878,107 shares, compared to its average volume of 1,314,872. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 1.14 and a beta of 0.38. The business has a fifty day moving average of $78.61 and a 200 day moving average of $76.72. 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 has a 1 year low of $48.38 and a 1 year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last posted 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). The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The firm's quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.12 earnings per share. As a group, analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, April 25th. Unum Group's dividend payout ratio (DPR) is 19.79%.

Insider Transactions at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the transaction, the executive vice president now directly owns 51,170 shares of the company's stock, valued at approximately $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UNM. Raymond James raised Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 target price on the stock in a report on Wednesday, March 5th. BMO Capital Markets lifted 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. Keefe, Bruyette & Woods cut their target price on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays raised their target price on shares of Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company lifted their price target on shares of Unum Group from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Five 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 company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.29.

About Unum Group

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.