Consolidated Planning Corp Takes $5.78 Million Position in Unum Group (NYSE:UNM)

Consolidated Planning Corp acquired a new position in shares of Unum Group (NYSE:UNM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 70,955 shares of the financial services provider's stock, valued at approximately $5,780,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in UNM. Wellington Management Group LLP purchased a new position in shares of Unum Group during the 4th quarter worth about $240,000. Picton Mahoney Asset Management bought a new stake in Unum Group in the fourth quarter worth about $8,816,000. Zurich Insurance Group Ltd FI purchased a new position in shares of Unum Group during the fourth quarter valued at approximately $105,199,000. Charles Schwab Investment Management Inc. grew its stake in shares of Unum Group by 0.9% during the fourth 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 buying an additional 51,744 shares during the last quarter. Finally, Merit Financial Group LLC grew its stake in shares of Unum Group by 168.5% during the first quarter. Merit Financial Group LLC now owns 12,070 shares of the financial services provider's stock valued at $983,000 after buying an additional 7,574 shares during the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Stock Up 2.1%

Shares of NYSE:UNM traded up $1.65 during trading hours on Thursday, hitting $79.68. The company's stock had a trading volume of 1,136,738 shares, compared to its average volume of 1,330,519. The firm's fifty day moving average price is $79.62 and its 200 day moving average price is $77.26. Unum Group has a 52 week low of $49.63 and a 52 week high of $84.48. The company has a market capitalization of $13.89 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 1.22 and a beta of 0.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) 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 analysts' expectations of $3.34 billion. Unum Group had a net margin of 12.31% and a return on equity of 14.17%. The business's quarterly revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share. As a group, research analysts expect that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 25th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, April 25th. Unum Group's dividend payout ratio (DPR) is currently 19.79%.

Wall Street Analysts Forecast Growth

UNM has been the subject of a number of recent analyst reports. Wall Street Zen cut Unum Group from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Barclays lifted their target price on Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. UBS Group set a $89.00 price target on shares of Unum Group and gave the stock a "neutral" rating in a report on Friday, May 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Unum Group from $81.00 to $87.00 and gave the company a "neutral" 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 company an "outperform" rating in a research report on Monday, March 3rd. 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 stock. Based on data from MarketBeat, Unum Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.29.

Insider Buying and Selling

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the sale, the executive vice president now owns 51,170 shares of the company's stock, valued at $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 is available at this link. 0.92% of the stock is currently owned by company insiders.

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.