CIBC World Markets Inc. Makes New $2.65 Million Investment in Unum Group (NYSE:UNM)

CIBC World Markets Inc. bought a new position in shares of Unum Group (NYSE:UNM) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 95,099 shares of the financial services provider’s stock, valued at approximately $2,647,000.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. bought a new stake in shares of Unum Group in the 1st quarter valued at about $11,539,000. Rhumbline Advisers boosted its holdings in shares of Unum Group by 2.9% in the 4th quarter. Rhumbline Advisers now owns 366,394 shares of the financial services provider’s stock valued at $8,405,000 after buying an additional 10,383 shares in the last quarter. Hussman Strategic Advisors Inc. bought a new stake in shares of Unum Group in the 1st quarter valued at about $3,006,000. Hsbc Holdings PLC boosted its holdings in shares of Unum Group by 22.1% in the 4th quarter. Hsbc Holdings PLC now owns 185,538 shares of the financial services provider’s stock valued at $4,210,000 after buying an additional 33,637 shares in the last quarter. Finally, Hancock Whitney Corp boosted its holdings in shares of Unum Group by 186.5% in the 4th quarter. Hancock Whitney Corp now owns 85,240 shares of the financial services provider’s stock valued at $1,955,000 after buying an additional 55,492 shares in the last quarter. Institutional investors own 80.77% of the company’s stock.

In other news, CEO Richard P. Mckenney sold 35,000 shares of Unum Group stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $30.46, for a total transaction of $1,066,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher W. Pyne sold 2,500 shares of Unum Group stock in a transaction that occurred on Friday, May 14th. The shares were sold at an average price of $30.24, for a total transaction of $75,600.00. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

UNM opened at $30.32 on Friday. Unum Group has a 12-month low of $15.20 and a 12-month high of $31.98. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The stock has a market cap of $6.19 billion, a price-to-earnings ratio of 7.90, a PEG ratio of 1.91 and a beta of 1.76. The stock’s 50 day simple moving average is $29.59.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Wednesday, May 5th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.90 billion. Unum Group had a net margin of 5.87% and a return on equity of 8.80%. As a group, equities research analysts anticipate that Unum Group will post 4.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Friday, April 30th were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Thursday, April 29th. Unum Group’s dividend payout ratio (DPR) is 23.12%.

A number of analysts have recently weighed in on UNM shares. Zacks Investment Research upgraded shares of Unum Group from a “sell” rating to a “hold” rating and set a $29.00 price target on the stock in a report on Wednesday, April 7th. TheStreet raised shares of Unum Group from a “c+” rating to a “b” rating in a research report on Tuesday, May 11th. Citigroup increased their price objective on shares of Unum Group from $25.00 to $28.00 in a research report on Wednesday, March 31st. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $24.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, April 5th. Finally, Barclays increased their price objective on shares of Unum Group from $23.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.00.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, and Poland. It operates through Unum US, Unum International, Colonial Life, and Closed Block segments. 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.

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Institutional Ownership by Quarter for Unum Group (NYSE:UNM)

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