Wells Fargo & Company MN Raises Stock Holdings in Unum Group (NYSE:UNM)

Wells Fargo & Company MN raised its position in Unum Group (NYSE:UNM - Free Report) by 14.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 122,387 shares of the financial services provider's stock after purchasing an additional 15,251 shares during the period. Wells Fargo & Company MN owned 0.07% of Unum Group worth $8,938,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Unum Group by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider's stock valued at $1,496,939,000 after acquiring an additional 1,596,078 shares in the last quarter. Norges Bank bought a new stake in Unum Group in the fourth quarter valued at $1,003,918,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Unum Group by 0.9% during the fourth 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 period. Victory Capital Management Inc. boosted its position in shares of Unum Group by 23.3% during the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider's stock worth $106,837,000 after purchasing an additional 276,655 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Unum Group by 44.9% in the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider's stock valued at $92,383,000 after buying an additional 392,191 shares during the period. Institutional investors and hedge funds own 86.57% of the company's stock.

Unum Group Stock Performance

Shares of UNM traded up $1.94 during mid-day trading on Wednesday, hitting $79.25. The stock had a trading volume of 156,019 shares, compared to its average volume of 1,537,741. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The firm has a market cap of $13.97 billion, a P/E ratio of 8.37, a PEG ratio of 1.14 and a beta of 0.46. Unum Group has a 52 week low of $48.38 and a 52 week high of $84.48. The business has a fifty day moving average price of $77.78 and a 200-day moving average price of $73.67.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, equities research analysts expect that Unum Group will post 9.14 EPS for the current year.

Unum Group declared that its board has authorized a stock repurchase program on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed 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 is Friday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.12%. Unum Group's dividend payout ratio is 17.74%.

Insiders Place Their Bets

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the 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 sale, the executive vice president now owns 31,284 shares of the company's stock, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. The sale was disclosed in a document filed 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 value of $4,099,500.00. Following the transaction, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at $80,402,427.63. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Keefe, Bruyette & Woods cut their target price on Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company lowered their price target on Unum Group from $97.00 to $95.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Raymond James raised 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. Finally, StockNews.com downgraded shares of Unum Group from a "buy" rating to a "hold" rating in a research report on Friday, March 7th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Unum Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.36.

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.