Corebridge Financial Inc. Sells 12,018 Shares of Unum Group (NYSE:UNM)

Corebridge Financial Inc. trimmed its holdings in shares of Unum Group (NYSE:UNM) by 5.9% during the 4th quarter, Holdings Channel reports. The fund owned 190,194 shares of the financial services provider’s stock after selling 12,018 shares during the period. Corebridge Financial Inc.’s holdings in Unum Group were worth $13,890,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of Unum Group by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider’s stock worth $1,496,939,000 after purchasing an additional 1,596,078 shares during the period. Charles Schwab Investment Management Inc. raised its stake in 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 buying an additional 51,744 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Unum Group by 23.3% during 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 buying an additional 276,655 shares during the period. Allianz Asset Management GmbH boosted its position in Unum Group by 44.9% during the 4th quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock valued at $92,383,000 after acquiring an additional 392,191 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Unum Group by 151.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock valued at $30,297,000 after acquiring an additional 307,175 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Analyst Ratings Changes

UNM has been the topic of a number of recent research reports. StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Wells Fargo & Company raised their price target on shares of Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. 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 report on Friday, February 28th. Morgan Stanley increased their target price on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $79.00 price target (up from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and a consensus target price of $86.62.

Unum Group Stock Down 0.4 %

Shares of UNM stock opened at $83.03 on Wednesday. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48. The firm has a market capitalization of $14.68 billion, a PE ratio of 8.77, a P/E/G ratio of 1.14 and a beta of 0.74. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The stock’s 50-day simple moving average is $77.15 and its 200-day simple moving average is $70.66.

Unum Group (NYSE:UNM) last issued its quarterly 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 return on equity of 14.91% and a net margin of 13.81%. Equities analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were given a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a yield of 2.02%. Unum Group’s dividend payout ratio is presently 17.74%.

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

Insider Buying and Selling at Unum Group

In related news, 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the sale, 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 disclosure for this sale can be found here. 0.93% of the stock is owned by corporate 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.