Arizona State Retirement System Has $3.74 Million Stake in Unum Group (NYSE:UNM)

Arizona State Retirement System reduced its holdings in shares of Unum Group (NYSE:UNM) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,219 shares of the financial services provider’s stock after selling 3,313 shares during the period. Arizona State Retirement System’s holdings in Unum Group were worth $3,741,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of UNM. Charles Schwab Investment Management Inc. boosted its position in shares of Unum Group by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock valued at $326,950,000 after purchasing an additional 55,014 shares in the last quarter. Franklin Resources Inc. boosted its holdings 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 buying an additional 156,380 shares in the last quarter. Blue Trust Inc. grew its position in shares of Unum Group by 44.1% during the 4th quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock worth $1,205,000 after buying an additional 5,047 shares during the period. Thrivent Financial for Lutherans grew its position in shares of Unum Group by 89.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 111,831 shares of the financial services provider’s stock worth $6,647,000 after buying an additional 52,813 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Unum Group in the 3rd quarter valued at $1,074,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Unum Group

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction 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. The trade was a 4.85 % 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.

Unum Group Stock Down 0.5 %

Shares of NYSE:UNM opened at $79.05 on Monday. The business’s 50 day moving average is $75.59 and its 200 day moving average is $68.62. Unum Group has a 12-month low of $48.38 and a 12-month high of $83.96. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 8.35, a PEG ratio of 1.14 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) 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%. On average, sell-side analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group announced that its board has approved a share repurchase program on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.13%. Unum Group’s dividend payout ratio (DPR) is 17.74%.

Analysts Set New Price Targets

Several research analysts recently issued reports on UNM shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 target price (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. BMO Capital Markets raised their target price on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Piper Sandler boosted their target price on 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 increased their price target on Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a report on Friday, February 28th. Finally, Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $67.00 to $84.00 in a report on Thursday, November 14th. Five 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.