Unum Group (NYSE:UNM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in shares of Unum Group (NYSE:UNM - Free Report) by 19.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 360,634 shares of the financial services provider's stock after selling 87,319 shares during the period. Bank of America Corp DE owned approximately 0.20% of Unum Group worth $26,337,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Barrett & Company Inc. grew its position in Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock worth $29,000 after acquiring an additional 297 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Unum Group in the fourth quarter worth about $38,000. Millstone Evans Group LLC purchased a new position in Unum Group in the fourth quarter worth about $45,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Unum Group by 28.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider's stock worth $58,000 after acquiring an additional 179 shares in the last quarter. Finally, Duncker Streett & Co. Inc. purchased a new position in Unum Group in the fourth quarter worth about $58,000. Hedge funds and other institutional investors own 86.57% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on UNM shares. UBS Group dropped their price target on Unum Group from $91.00 to $89.00 and set a "neutral" rating for the company in a research report on Friday. Morgan Stanley lifted their price target on Unum Group from $76.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Monday. Barclays lifted their price target on Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Raymond James upgraded Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price target for the company in a research report on Wednesday, March 5th. Finally, BMO Capital Markets boosted their target price on Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Five equities research 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 company has an average rating of "Moderate Buy" and an average price target of $88.29.

Insider Buying and Selling at Unum Group

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at $80,402,427.63. The trade was a 4.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Elizabeth Claire Ahmed sold 10,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the completion of the transaction, the executive vice president now directly owns 51,170 shares of the company's stock, valued at approximately $4,093,600. The trade was a 16.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,000 shares of company stock valued at $5,478,750 in the last ninety days. Corporate insiders own 0.92% of the company's stock.

Unum Group Trading Up 0.3%

UNM traded up $0.27 during trading hours on Friday, reaching $79.90. 693,326 shares of the company's stock traded hands, compared to its average volume of 1,316,927. 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 50-day moving average price of $78.72 and a 200 day moving average price of $76.27. The firm has a market capitalization of $13.93 billion, a PE ratio of 8.44, a PEG ratio of 1.14 and a beta of 0.38. Unum Group has a 52-week low of $48.38 and a 52-week high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.34 billion. Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The company's revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the firm earned $2.12 earnings per share. As a group, sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Dividend Announcement

The company also recently announced 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. This represents a $1.68 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date was Friday, April 25th. Unum Group's dividend payout ratio (DPR) is presently 19.79%.

Unum Group announced that its Board of Directors has authorized a stock buyback plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.