Unum Group $UNM Stake Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama cut its stake in Unum Group (NYSE:UNM) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,445 shares of the financial services provider’s stock after selling 6,617 shares during the period. Retirement Systems of Alabama owned 0.24% of Unum Group worth $32,236,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in Unum Group during the 2nd quarter worth approximately $1,113,353,000. Ensign Peak Advisors Inc lifted its holdings in Unum Group by 762.9% in the second quarter. Ensign Peak Advisors Inc now owns 712,206 shares of the financial services provider’s stock worth $57,518,000 after acquiring an additional 629,665 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Unum Group in the second quarter valued at approximately $27,601,000. Neuberger Berman Group LLC grew its holdings in shares of Unum Group by 66.4% during the second quarter. Neuberger Berman Group LLC now owns 760,765 shares of the financial services provider’s stock valued at $61,439,000 after purchasing an additional 303,500 shares during the last quarter. Finally, Lighthouse Investment Partners LLC raised its position in shares of Unum Group by 508.0% during the 2nd quarter. Lighthouse Investment Partners LLC now owns 294,088 shares of the financial services provider’s stock worth $23,751,000 after purchasing an additional 245,718 shares during the period. Institutional investors own 86.57% of the company’s stock.

Analyst Ratings Changes

UNM has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Unum Group in a research report on Monday, December 29th. Morgan Stanley set a $85.00 target price on shares of Unum Group in a research report on Monday, December 15th. Citigroup restated a “market perform” rating on shares of Unum Group in a research report on Thursday, December 18th. JPMorgan Chase & Co. reduced their price target on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating for the company in a research note on Tuesday, November 4th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $115.00 price objective on shares of Unum Group in a research note on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $97.08.

Unum Group Stock Performance

NYSE:UNM opened at $76.12 on Monday. Unum Group has a twelve month low of $66.81 and a twelve month high of $84.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $77.03 and a 200-day moving average of $75.71. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 14.84, a price-to-earnings-growth ratio of 1.36 and a beta of 0.20.

Unum Group (NYSE:UNM) last released its earnings results on Monday, November 3rd. The financial services provider reported $2.09 EPS for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.31 billion. Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.13 earnings per share. Analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Stockholders of record on Friday, January 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, January 30th. Unum Group’s dividend payout ratio is 35.87%.

Unum Group declared that its Board of Directors has approved a stock repurchase program on Thursday, December 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Unum Group

In related news, EVP Christopher W. Pyne sold 4,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $78.04, for a total value of $312,160.00. Following the completion of the transaction, the executive vice president owned 51,372 shares in the company, valued at $4,009,070.88. This trade represents a 7.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Steven Andrew Zabel sold 7,500 shares of Unum Group stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $76.38, for a total value of $572,850.00. Following the completion of the transaction, the executive vice president directly owned 113,807 shares in the company, valued at $8,692,578.66. This represents a 6.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,400 shares of company stock valued at $951,160 in the last three months. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Profile

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.