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

Cresset Asset Management LLC decreased its position in shares of Unum Group (NYSE:UNM - Free Report) by 80.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,973 shares of the financial services provider's stock after selling 33,265 shares during the quarter. Cresset Asset Management LLC's holdings in Unum Group were worth $582,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Barrett & Company Inc. lifted its holdings in Unum Group by 300.0% in the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 297 shares during the period. Kestra Investment Management LLC acquired a new position in Unum Group in the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new position in Unum Group in the fourth quarter valued at approximately $45,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in 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 valued at $58,000 after acquiring an additional 179 shares during the period. Finally, Duncker Streett & Co. Inc. acquired a new position in Unum Group in the fourth quarter valued at approximately $58,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Unum Group Trading Up 1.6%

NYSE:UNM traded up $1.30 during trading hours on Friday, hitting $82.07. The company had a trading volume of 1,308,830 shares, compared to its average volume of 1,314,821. 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 50-day moving average of $78.56 and a 200 day moving average of $75.70. The company has a market cap of $14.31 billion, a P/E ratio of 8.67, a P/E/G ratio of 1.14 and a beta of 0.38. Unum Group has a 1 year low of $48.38 and a 1 year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results 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). The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.34 billion. Unum Group had a return on equity of 14.91% and a net margin of 13.81%. The business's revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.12 earnings per share. Sell-side analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Announces Dividend

The company 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 dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, April 25th. Unum Group's payout ratio is 19.79%.

Unum Group announced that its board has initiated a share repurchase plan 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 buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UNM shares. StockNews.com downgraded Unum Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Barclays upped 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. BMO Capital Markets increased their price objective on Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research note on Monday, March 3rd. Raymond James raised Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price objective for the company in a research note on Wednesday, March 5th. Finally, Piper Sandler increased 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. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $88.50.

Insider Buying and Selling

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction dated 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 owns 980,637 shares of the company's stock, valued at $80,402,427.63. This trade represents a 4.85% decrease in their position. The transaction 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 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 in the company, valued at $2,588,751. This represents a 18.28% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,000 shares of company stock valued at $5,478,750. Corporate insiders own 0.92% of the company's stock.

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.