Wellington Management Group LLP Makes New $240,000 Investment in Unum Group (NYSE:UNM)

Wellington Management Group LLP bought a new stake in shares of Unum Group (NYSE:UNM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,282 shares of the financial services provider's stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also made changes to their positions in UNM. Vanguard Group Inc. boosted 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 buying an additional 1,596,078 shares during the last quarter. Norges Bank purchased a new stake in Unum Group during the 4th quarter worth approximately $1,003,918,000. Charles Schwab Investment Management Inc. raised its position in shares of Unum Group by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,552,252 shares of the financial services provider's stock valued at $405,481,000 after purchasing an additional 51,744 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Unum Group by 33.2% during the 4th quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider's stock valued at $140,973,000 after buying an additional 480,926 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Unum Group by 15.4% during the 4th quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider's stock valued at $124,768,000 after buying an additional 227,644 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

Wall Street Analysts Forecast Growth

UNM has been the topic of several research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. UBS Group set a $89.00 price target on Unum Group and gave the company a "neutral" rating in a research report on Friday, May 23rd. Raymond James raised shares of Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 target price on the stock in a report on Wednesday, March 5th. Piper Sandler raised their price target on shares of 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 boosted their price objective on shares of 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 assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Unum Group presently has a consensus rating of "Moderate Buy" and an average target price of $88.29.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president now directly owns 51,170 shares of the company's stock, valued at $4,093,600. This trade represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.92% of the stock is currently owned by insiders.

Unum Group Stock Performance

Shares of NYSE:UNM traded up $0.62 on Thursday, hitting $79.28. The company's stock had a trading volume of 1,294,601 shares, compared to its average volume of 1,318,914. The company has a market capitalization of $13.82 billion, a price-to-earnings ratio of 8.37, 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 quick ratio of 0.28 and a current ratio of 0.29. Unum Group has a 12 month low of $48.38 and a 12 month high of $84.48. The stock's 50-day moving average is $78.68 and its two-hundred day moving average is $77.05.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). The company had revenue of $3.09 billion during 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 business's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. On average, equities research analysts forecast that Unum Group will post 9.14 EPS for the current year.

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 dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.12%. Unum Group's payout ratio is 19.79%.

Unum Group declared that its Board of Directors has initiated a stock buyback 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 reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are generally 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.