Sowell Financial Services LLC Boosts Holdings in Unum Group (NYSE:UNM)

Sowell Financial Services LLC grew its holdings in Unum Group (NYSE:UNM) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,934 shares of the financial services provider’s stock after purchasing an additional 689 shares during the quarter. Sowell Financial Services LLC’s holdings in Unum Group were worth $1,821,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in UNM. Allianz Asset Management GmbH lifted its stake in Unum Group by 44.9% in 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 acquiring an additional 392,191 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Unum Group by 151.7% in 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 acquiring an additional 307,175 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Unum Group by 23.3% in the fourth quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock worth $106,837,000 after acquiring an additional 276,655 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Unum Group in the fourth quarter worth approximately $19,617,000. Finally, Proficio Capital Partners LLC purchased a new position in Unum Group in the fourth quarter worth approximately $11,456,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Stock Down 0.5 %

UNM stock opened at $79.05 on Monday. The company has a fifty day moving average price of $75.59 and a 200 day moving average price of $68.62. Unum Group has a 12 month low of $48.38 and a 12 month high of $83.96. The company has a market cap of $13.97 billion, a price-to-earnings ratio of 8.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. 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 results on Tuesday, February 4th. The financial services provider reported $2.03 EPS 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%. Sell-side analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its board has authorized a share buyback program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Unum Group Announces Dividend

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

Insiders Place Their Bets

In other Unum Group 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 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. This represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $2,588,751. The trade was a 18.28 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

UNM has been the subject of a number of recent research reports. StockNews.com downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Friday. BMO Capital Markets lifted 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. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Piper Sandler raised their price objective on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods raised 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. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus 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.