Man Group plc Reduces Stock Position in Unum Group (NYSE:UNM)

Man Group plc lessened its holdings in Unum Group (NYSE:UNM - Free Report) by 54.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 186,832 shares of the financial services provider's stock after selling 223,738 shares during the period. Man Group plc owned approximately 0.10% of Unum Group worth $13,644,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of UNM. Norges Bank purchased a new position in Unum Group in the fourth quarter valued at $1,003,918,000. Vanguard Group Inc. raised its position in Unum Group by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider's stock valued at $1,496,939,000 after purchasing an additional 1,596,078 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Unum Group during the fourth quarter worth about $113,962,000. Freestone Grove Partners LP acquired a new position in shares of Unum Group during the fourth quarter worth about $65,096,000. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Unum Group during the fourth quarter worth approximately $59,561,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Unum Group Stock Performance

NYSE:UNM traded down $1.64 during trading hours on Wednesday, reaching $80.37. 849,343 shares of the company's stock were exchanged, compared to its average volume of 1,313,289. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $14.01 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 1.14 and a beta of 0.38. The company has a 50-day moving average of $78.75 and a 200 day moving average of $76.03.

Unum Group (NYSE:UNM - Get Free Report) last announced 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). The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Unum Group's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the company posted $2.12 EPS. Research analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group declared that its Board of Directors has authorized a share buyback 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 an indication that the company's board of directors believes its stock is undervalued.

Unum Group Dividend Announcement

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

Insider Transactions at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth Claire Ahmed sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the transaction, the executive vice president now owns 51,170 shares of the company's stock, valued at approximately $4,093,600. The trade was a 16.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,000 shares of company stock worth $5,478,750. Company insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on UNM shares. UBS Group increased their price objective on shares of Unum Group from $75.00 to $91.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. raised their price target on Unum Group from $81.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Barclays upped their price objective on Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Piper Sandler raised their target price on Unum Group from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Finally, StockNews.com cut Unum Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Five 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $88.43.

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.