Commonwealth Equity Services LLC Acquires 2,311 Shares of Unum Group (NYSE:UNM)

Commonwealth Equity Services LLC grew its holdings in shares of Unum Group (NYSE:UNM) by 5.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,802 shares of the financial services provider’s stock after acquiring an additional 2,311 shares during the period. Commonwealth Equity Services LLC’s holdings in Unum Group were worth $3,199,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Vestcor Inc raised its position in shares of Unum Group by 4.0% during the fourth quarter. Vestcor Inc now owns 92,314 shares of the financial services provider’s stock worth $6,742,000 after acquiring an additional 3,586 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in shares of Unum Group by 3.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 9,226 shares of the financial services provider’s stock worth $674,000 after purchasing an additional 324 shares during the period. Moran Wealth Management LLC lifted its position in shares of Unum Group by 25.9% in the 4th quarter. Moran Wealth Management LLC now owns 16,259 shares of the financial services provider’s stock worth $1,187,000 after purchasing an additional 3,349 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Unum Group by 8.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,267 shares of the financial services provider’s stock worth $3,306,000 after buying an additional 3,554 shares during the period. Finally, Taika Capital LP bought a new position in Unum Group during the fourth quarter worth $369,000. Institutional investors own 86.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price target on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their target price on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Piper Sandler increased their price target on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Finally, BMO Capital Markets boosted their target price on shares of Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and a consensus price target of $86.62.

Unum Group Stock Performance

UNM opened at $83.03 on Wednesday. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 1.14 and a beta of 0.74. The company’s fifty day moving average price is $77.15 and its two-hundred day moving average price is $70.66. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last announced 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 net margin of 13.81% and a return on equity of 14.91%. On average, analysts expect that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.02%. Unum Group’s dividend payout ratio (DPR) is currently 17.74%.

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

Insider Activity at Unum Group

In other news, CEO Richard P. Mckenney sold 50,000 shares of the business’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 transaction, the chief executive officer now owns 980,637 shares in the company, valued at $80,402,427.63. The trade was a 4.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction that occurred on 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 directly owns 31,284 shares of the company’s stock, valued at $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Unum Group Company Profile

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.