The Manufacturers Life Insurance Company Sells 3,254 Shares of Unum Group (NYSE:UNM)

The Manufacturers Life Insurance Company reduced its position in shares of Unum Group (NYSE:UNM - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 370,015 shares of the financial services provider's stock after selling 3,254 shares during the period. The Manufacturers Life Insurance Company owned 0.20% of Unum Group worth $27,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. grew its holdings in Unum Group by 50.0% in 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 in the last quarter. Blue Trust Inc. lifted its holdings in Unum Group by 44.1% in the fourth quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider's stock valued at $1,205,000 after acquiring an additional 5,047 shares during the last quarter. Picton Mahoney Asset Management acquired a new stake in Unum Group during the fourth quarter worth $8,816,000. Charles Schwab Investment Management Inc. lifted its stake 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 during the last quarter. Finally, Oak Thistle LLC increased its position in shares of Unum Group by 362.9% during the 4th quarter. Oak Thistle LLC now owns 19,461 shares of the financial services provider's stock worth $1,421,000 after purchasing an additional 15,257 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Price Performance

Shares of NYSE:UNM traded up $1.50 during trading on Wednesday, hitting $80.99. 206,196 shares of the stock were exchanged, compared to its average volume of 1,301,729. The company has a fifty day moving average price of $78.40 and a two-hundred day moving average price of $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. The company has a market cap of $14.27 billion, a PE ratio of 8.54, a P/E/G ratio of 1.14 and a beta of 0.38. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.15). The firm had revenue of $3.09 billion for the quarter, compared to analysts' expectations 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 period in the previous year, the company posted $2.12 EPS. On average, analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Unum Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be given a dividend of $0.42 per share. The ex-dividend date is 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 Buying and Selling

In other news, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the transaction, the executive vice president now directly owns 31,284 shares of the company's stock, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on UNM shares. Morgan Stanley upped their price target on Unum Group from $80.00 to $84.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Piper Sandler raised their target price on Unum Group from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. boosted their target price on Unum Group from $81.00 to $87.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 2nd. UBS Group increased their price target on shares of Unum Group from $75.00 to $91.00 and gave the company a "neutral" rating in a research note 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 stock an "outperform" rating in a research report on Monday, March 3rd. Five 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.