Two Sigma Investments LP Sells 372,116 Shares of Unum Group (NYSE:UNM)

Two Sigma Investments LP decreased its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 53.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 325,921 shares of the financial services provider's stock after selling 372,116 shares during the quarter. Two Sigma Investments LP owned 0.18% of Unum Group worth $23,802,000 at the end of the most recent quarter.

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

Unum Group Trading Up 1.6%

Shares of Unum Group stock traded up $1.31 on Tuesday, reaching $81.18. 114,059 shares of the company's stock were exchanged, compared to its average volume of 1,441,977. The company has a market capitalization of $14.15 billion, a P/E ratio of 8.57, a price-to-earnings-growth 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. The firm's 50-day moving average is $78.68 and its two-hundred day moving average is $76.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the prior year, the business earned $2.12 earnings per share. Unum Group's revenue for the quarter was down 3.4% on a year-over-year basis. Sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its Board of Directors has authorized a stock repurchase plan 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 repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 25th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date was Friday, April 25th. Unum Group's dividend payout ratio is currently 19.79%.

Insider Buying and Selling

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the firm's 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth Claire Ahmed sold 10,000 shares of the firm'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 owns 51,170 shares in the company, valued at approximately $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,000 shares of company stock worth $5,478,750 in the last ninety days. Corporate insiders own 0.92% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Piper Sandler upped their price objective on Unum Group from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. UBS Group set a $89.00 price objective on Unum Group and gave the company a "neutral" rating in a research note on Friday. Wells Fargo & Company upped their price objective on Unum Group from $95.00 to $97.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods decreased 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 report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target 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.