Unum Group (NYSE:UNM) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC lessened its stake in shares of Unum Group (NYSE:UNM - Free Report) by 18.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,629 shares of the financial services provider's stock after selling 17,073 shares during the quarter. Lazard Asset Management LLC's holdings in Unum Group were worth $5,667,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Leigh Baldwin & CO. LLC purchased a new position in shares of Unum Group in the 4th quarter worth approximately $1,584,000. Jacobs Levy Equity Management Inc. lifted its position in Unum Group by 54.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 786,168 shares of the financial services provider's stock valued at $57,414,000 after acquiring an additional 276,466 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Unum Group by 146.1% in the fourth quarter. Janus Henderson Group PLC now owns 330,081 shares of the financial services provider's stock valued at $24,116,000 after acquiring an additional 195,947 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in Unum Group in the fourth quarter worth $4,166,000. Finally, KKM Financial LLC purchased a new position in Unum Group in the fourth quarter worth $219,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Stock Performance

Shares of UNM stock traded down $0.84 during mid-day trading on Wednesday, reaching $81.18. The stock had a trading volume of 145,266 shares, compared to its average volume of 1,310,533. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The firm has a market cap of $14.15 billion, a price-to-earnings ratio of 8.56, a PEG 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. The business's fifty day moving average is $78.75 and its 200-day moving average is $76.03.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 EPS 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 firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.34 billion. During the same quarter in the prior year, the company earned $2.12 EPS. Unum Group's quarterly revenue was down 3.4% on a year-over-year basis. On average, research analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its board has initiated a stock repurchase 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 generally an indication that the company's board of directors believes its stock is undervalued.

Unum Group Announces Dividend

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

Insider Transactions at Unum Group

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the business's stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,000 shares of company stock worth $5,478,750 over the last 90 days. 0.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James upgraded Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price objective for the company in a report on Wednesday, March 5th. Morgan Stanley upped their target price on Unum Group from $76.00 to $83.00 and gave the company an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on Unum Group from $81.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. StockNews.com downgraded Unum Group from a "buy" rating to a "hold" rating in a report on Friday, March 7th. Finally, BMO Capital Markets upped their price objective on shares of Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.43.

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.