Freestone Grove Partners LP Buys Shares of 891,362 Unum Group (NYSE:UNM)

Freestone Grove Partners LP acquired a new position in Unum Group (NYSE:UNM - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 891,362 shares of the financial services provider's stock, valued at approximately $65,096,000. Unum Group comprises 0.8% of Freestone Grove Partners LP's investment portfolio, making the stock its 22nd biggest holding. Freestone Grove Partners LP owned 0.49% of Unum Group as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Unum Group by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider's stock worth $1,496,939,000 after buying an additional 1,596,078 shares during the last quarter. Norges Bank purchased a new stake in shares of Unum Group during the 4th quarter worth approximately $1,003,918,000. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $405,481,000 after purchasing an additional 51,744 shares during the last quarter. Northern Trust Corp grew its holdings in Unum Group by 33.2% during the fourth quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider's stock valued at $140,973,000 after purchasing an additional 480,926 shares during the period. Finally, First Trust Advisors LP increased 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 buying an additional 227,644 shares during the last quarter. Institutional investors own 86.57% of the company's stock.

Wall Street Analyst Weigh In

UNM has been the subject of several recent research reports. UBS Group boosted their price objective on Unum Group from $75.00 to $91.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. BMO Capital Markets lifted their price objective on shares of Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. raised their price target on Unum Group from $81.00 to $87.00 and gave the stock a "neutral" rating in a report on Wednesday, April 2nd. Piper Sandler boosted 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. Finally, Barclays raised their target price on Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research note on Friday, April 11th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.50.

Insider Buying and Selling at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the sale, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at $80,402,427.63. This represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the sale, the executive vice president now directly owns 31,284 shares in the company, valued at $2,588,751. The trade was a 18.28 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Unum Group Price Performance

Shares of UNM traded up $0.73 during midday trading on Tuesday, reaching $79.39. The stock had a trading volume of 299,685 shares, compared to its average volume of 1,301,097. The company has a market capitalization of $13.99 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 1.14 and a beta of 0.38. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48. The company's 50-day moving average is $78.45 and its 200 day moving average is $74.76.

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

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Shareholders of record on Friday, April 25th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, April 25th. Unum Group's dividend payout ratio (DPR) is presently 19.79%.

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