Assenagon Asset Management S.A. Increases Stock Position in Unum Group (NYSE:UNM)

Assenagon Asset Management S.A. grew its stake in Unum Group (NYSE:UNM - Free Report) by 228.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,033,700 shares of the financial services provider's stock after purchasing an additional 719,152 shares during the period. Assenagon Asset Management S.A. owned approximately 0.58% of Unum Group worth $84,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position 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 purchasing an additional 1,596,078 shares in the last quarter. Norges Bank purchased a new position in Unum Group in the fourth quarter worth approximately $1,003,918,000. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 51,744 shares during the period. Northern Trust Corp grew its position in Unum Group by 33.2% in the fourth quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider's stock worth $140,973,000 after acquiring an additional 480,926 shares during the period. Finally, First Trust Advisors LP grew its position in Unum Group by 15.4% in the fourth quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider's stock worth $124,768,000 after acquiring an additional 227,644 shares during the period. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UNM has been the subject of several analyst reports. Barclays increased 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. Wall Street Zen lowered Unum Group from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Wells Fargo & Company increased their price objective on Unum Group from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Piper Sandler increased their price objective 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, BMO Capital Markets increased their price objective on Unum Group from $95.00 to $102.00 and gave the stock 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $88.29.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the firm's 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. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is owned by insiders.

Unum Group Stock Down 1.5%

Shares of NYSE UNM traded down $1.21 during mid-day trading on Friday, hitting $78.04. The company had a trading volume of 1,152,715 shares, compared to its average volume of 1,321,993. The company has a market capitalization of $13.61 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.14 and a beta of 0.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The business's 50-day simple moving average is $79.00 and its 200 day simple moving average is $77.09.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly 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). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same quarter in the prior year, the business earned $2.12 earnings per share. The firm's quarterly revenue was down 3.4% on a year-over-year basis. On average, analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, April 25th. Unum Group's dividend payout ratio is presently 19.79%.

Unum Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is 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.