Maryland State Retirement & Pension System Trims Stock Position in Unum Group (NYSE:UNM)

Maryland State Retirement & Pension System decreased its position in Unum Group (NYSE:UNM) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,223 shares of the financial services provider’s stock after selling 678 shares during the period. Maryland State Retirement & Pension System’s holdings in Unum Group were worth $747,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in UNM. Charles Schwab Investment Management Inc. lifted its holdings in Unum Group by 0.9% in 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 acquiring an additional 51,744 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Unum Group by 23.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock valued at $106,837,000 after purchasing an additional 276,655 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Unum Group by 44.9% during the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock worth $92,383,000 after purchasing an additional 392,191 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of Unum Group by 151.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after purchasing an additional 307,175 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Unum Group by 50.0% during the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after purchasing an additional 156,380 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Stock Up 2.4 %

Shares of NYSE:UNM opened at $83.31 on Tuesday. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $83.96. The firm’s 50 day moving average price is $77.15 and its 200 day moving average price is $70.66. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The stock has a market cap of $14.73 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. As a group, equities research analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are typically 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 was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.02%. Unum Group’s dividend payout ratio is currently 17.74%.

Insider Activity

In other news, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the transaction, the executive vice president now directly owns 31,284 shares in the company, valued at $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on UNM. Piper Sandler upped their target price on shares of Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Keefe, Bruyette & Woods upped their price objective on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 target price (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, Raymond James upgraded Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target for the company in a research report on Wednesday, March 5th. Five 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $86.62.

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.