Raymond James Financial Inc. Buys Shares of 268,612 Unum Group (NYSE:UNM)

Raymond James Financial Inc. bought a new stake in shares of Unum Group (NYSE:UNM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 268,612 shares of the financial services provider’s stock, valued at approximately $19,617,000.

Several other hedge funds and other institutional investors have also bought and sold shares of UNM. 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. Jacobs Levy Equity Management Inc. boosted its position in Unum Group by 151.7% during 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 in the last quarter. Victory Capital Management Inc. boosted its position in shares of Unum Group by 23.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock worth $106,837,000 after purchasing an additional 276,655 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Unum Group in the 4th quarter worth $11,456,000. Finally, Franklin Resources Inc. boosted its position in shares of Unum Group by 50.0% in the 3rd quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after purchasing an additional 156,380 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.

Unum Group Stock Performance

NYSE UNM opened at $78.99 on Monday. The stock has a 50-day simple moving average of $76.08 and a two-hundred day simple moving average of $69.55. The firm has a market capitalization of $13.96 billion, a P/E ratio of 8.34, a PEG ratio of 1.14 and a beta of 0.74. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $83.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29.

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 net margin of 13.81% and a return on equity of 14.91%. On average, equities analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

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

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid 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 dividend yield of 2.13%. Unum Group’s payout ratio is currently 17.74%.

Insider Buying and Selling at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $579,250.00. Following the sale, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. This trade represents a 18.28 % 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.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler raised their price objective on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. StockNews.com cut Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. 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 research report on Wednesday, February 19th. Finally, Morgan Stanley raised their price objective on Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.