New York Life Investment Management LLC Reduces Holdings in Unum Group (NYSE:UNM)

New York Life Investment Management LLC trimmed its position in shares of Unum Group (NYSE:UNM) by 9.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,587 shares of the financial services provider’s stock after selling 2,125 shares during the quarter. New York Life Investment Management LLC’s holdings in Unum Group were worth $1,430,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of UNM. Allianz Asset Management GmbH boosted its stake in Unum Group by 44.9% during the fourth quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock worth $92,383,000 after buying an additional 392,191 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in Unum Group by 151.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after buying an additional 307,175 shares during the period. Franklin Resources Inc. boosted its stake in Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after buying an additional 156,380 shares during the period. Algert Global LLC boosted its stake in Unum Group by 69.5% during the third quarter. Algert Global LLC now owns 236,264 shares of the financial services provider’s stock worth $14,044,000 after buying an additional 96,916 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Unum Group during the third quarter worth $5,021,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on UNM. Keefe, Bruyette & Woods lifted their price objective on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday. Barclays lifted their target price on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a research report on Monday, February 24th. Morgan Stanley lifted their target price on Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.83.

Unum Group Stock Down 1.2 %

NYSE:UNM opened at $81.29 on Tuesday. Unum Group has a 1-year low of $48.38 and a 1-year high of $83.96. The company has a 50-day moving average of $74.93 and a 200 day moving average of $67.83. The firm has a market cap of $14.84 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last released 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 return on equity of 14.91% and a net margin of 13.81%. As a group, research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Unum Group announced that its board has approved a stock buyback plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.