Unum Group (NYSE:UNM) Shares Sold by AIA Group Ltd

AIA Group Ltd reduced its position in Unum Group (NYSE:UNM) by 45.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,042 shares of the financial services provider’s stock after selling 8,462 shares during the period. AIA Group Ltd’s holdings in Unum Group were worth $733,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Franklin Resources Inc. grew its position in shares of Unum Group by 50.0% in the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock valued at $29,554,000 after purchasing an additional 156,380 shares during the period. Blue Trust Inc. grew its holdings in Unum Group by 44.1% in the 4th quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock valued at $1,205,000 after buying an additional 5,047 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in shares of Unum Group during the 3rd quarter valued at about $1,074,000. Picton Mahoney Asset Management purchased a new position in shares of Unum Group during the 4th quarter worth about $8,816,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $405,481,000 after acquiring an additional 51,744 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Price Performance

Shares of NYSE:UNM opened at $81.53 on Tuesday. The stock’s 50 day moving average price is $77.91 and its 200 day moving average price is $71.63. 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 stock has a market cap of $14.41 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 1.14 and a beta of 0.74. Unum Group has a 12 month low of $48.38 and a 12 month high of $84.48.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share 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%. Equities research analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Friday, January 24th. Unum Group’s payout ratio is 17.74%.

Unum Group declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

UNM has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research note on Monday, March 3rd. Barclays boosted their price target on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their price objective on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Morgan Stanley increased their target price on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Finally, Piper Sandler raised their target price on shares of Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.62.

Insiders Place Their Bets

In other Unum Group news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 980,637 shares in the company, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $82.75, for a total transaction of $579,250.00. Following the transaction, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

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.