Jacobs Levy Equity Management Inc. Grows Stock Holdings in Unum Group (NYSE:UNM)

Jacobs Levy Equity Management Inc. lifted its stake in Unum Group (NYSE:UNM - Free Report) by 54.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 786,168 shares of the financial services provider's stock after buying an additional 276,466 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.43% of Unum Group worth $57,414,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of UNM. Barrett & Company Inc. lifted its holdings in shares of Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock worth $29,000 after buying an additional 297 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of Unum Group in the fourth quarter worth $38,000. Millstone Evans Group LLC purchased a new position in shares of Unum Group in the fourth quarter worth $45,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Unum Group by 28.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider's stock worth $58,000 after buying an additional 179 shares in the last quarter. Finally, Duncker Streett & Co. Inc. purchased a new position in shares of Unum Group in the fourth quarter worth $58,000. Hedge funds and other institutional investors own 86.57% of the company's stock.

Insider Activity

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the company's 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 sale, the executive vice president now directly owns 31,284 shares of the company's stock, valued at $2,588,751. This represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at approximately $80,402,427.63. This trade represents a 4.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,000 shares of company stock valued at $5,478,750. 0.92% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on UNM. Raymond James upgraded shares of Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price target on the stock in a research report on Wednesday, March 5th. BMO Capital Markets boosted their price target 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. Wells Fargo & Company boosted their price target on shares of Unum Group from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Barclays boosted their price target on shares of Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Finally, UBS Group boosted their price target on shares of Unum Group from $75.00 to $91.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 2nd. Five equities research 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's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.50.

Unum Group Trading Up 1.8%

UNM stock traded up $1.48 during mid-day trading on Friday, reaching $82.25. 541,075 shares of the stock traded hands, compared to its average volume of 1,480,211. 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 one year low of $48.38 and a one year high of $84.48. The stock has a market capitalization of $14.34 billion, a PE ratio of 8.69, a PEG ratio of 1.14 and a beta of 0.38. The business has a 50-day moving average price of $78.50 and a two-hundred day moving average price of $75.56.

Unum Group (NYSE:UNM - Get Free Report) last issued 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 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 firm's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.12 earnings per share. Equities research analysts expect that Unum Group will post 9.14 EPS for the current year.

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

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, April 25th. Unum Group's dividend payout ratio is currently 19.79%.

About Unum Group

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.