Merit Financial Group LLC Boosts Stake in Unum Group (NYSE:UNM)

Merit Financial Group LLC raised its position in shares of Unum Group (NYSE:UNM - Free Report) by 168.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,070 shares of the financial services provider's stock after acquiring an additional 7,574 shares during the period. Merit Financial Group LLC's holdings in Unum Group were worth $983,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new stake in Unum Group during the fourth quarter valued at about $8,816,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of Unum Group in the fourth quarter worth about $105,199,000. Charles Schwab Investment Management Inc. boosted its position in shares of Unum Group by 0.9% in the fourth 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 during the period. FourThought Financial Partners LLC purchased a new stake in shares of Unum Group in the fourth quarter worth about $341,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of Unum Group in the fourth quarter worth about $230,000. Hedge funds and other institutional investors own 86.57% of the company's stock.

Unum Group Trading Up 2.0%

Shares of NYSE UNM opened at $81.63 on Friday. The stock's 50 day moving average price is $78.59 and its two-hundred day moving average price is $76.99. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48. The stock has a market capitalization of $14.23 billion, a P/E ratio of 8.62, a PEG ratio of 1.14 and a beta of 0.43. 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 (NYSE:UNM - Get Free Report) last announced 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). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the previous year, the company earned $2.12 EPS. The company's quarterly revenue was down 3.4% compared to the same quarter last year. On average, analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Friday, April 25th. Unum Group's payout ratio is currently 19.79%.

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on UNM shares. Wells Fargo & Company upped their target price on Unum Group from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Wall Street Zen downgraded Unum Group from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. BMO Capital Markets upped their target price on Unum Group from $95.00 to $102.00 and gave the stock an "outperform" rating in a research report on Monday, March 3rd. JPMorgan Chase & Co. upped their target price on Unum Group from $81.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods reduced their price target on Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Unum Group presently has a consensus rating of "Moderate Buy" and an average price target of $88.29.

Insider Buying and Selling at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the sale, the executive vice president now directly owns 51,170 shares in the company, valued at approximately $4,093,600. This represents a 16.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is currently owned by insiders.

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.

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