Price T Rowe Associates Inc. MD Raises Stake in Unum Group (NYSE:UNM)

Price T Rowe Associates Inc. MD increased its stake in shares of Unum Group (NYSE:UNM - Free Report) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 118,709 shares of the financial services provider's stock after buying an additional 11,589 shares during the period. Price T Rowe Associates Inc. MD owned about 0.07% of Unum Group worth $8,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Unum Group during the third quarter valued at $58,000. Franklin Resources Inc. lifted its position in shares of Unum Group by 50.0% during the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider's stock valued at $29,554,000 after buying an additional 156,380 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider's stock worth $56,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC increased its holdings in Unum Group by 9.4% in the 4th quarter. GAMMA Investing LLC now owns 7,893 shares of the financial services provider's stock worth $576,000 after acquiring an additional 680 shares during the last quarter. Finally, Everence Capital Management Inc. bought a new stake in Unum Group in the 4th quarter valued at about $341,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Price Performance

Shares of UNM stock traded up $1.06 during trading hours on Wednesday, hitting $80.55. 1,063,679 shares of the company's stock were exchanged, compared to its average volume of 1,305,137. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48. The company has a market capitalization of $14.19 billion, a PE ratio of 8.51, a PEG ratio of 1.14 and a beta of 0.38. The business's 50 day simple moving average is $78.40 and its 200-day simple moving average is $74.79. 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 (NYSE:UNM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.34 billion. During the same period last year, the company posted $2.12 EPS. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities research analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its board has approved a share buyback 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 buy up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. Unum Group's payout ratio is presently 19.79%.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were 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 owns 980,637 shares in the company, valued at $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the firm'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 completion of the sale, the executive vice president now owns 31,284 shares of the company's stock, valued at $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Unum Group from $81.00 to $87.00 and gave the company a "neutral" rating in a research report on Wednesday, April 2nd. Wells Fargo & Company boosted 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. 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. StockNews.com cut Unum Group from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Finally, Piper Sandler boosted their price objective on shares of Unum Group from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.50.

Unum Group Company 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.