Envestnet Portfolio Solutions Inc. Raises Holdings in Unum Group (NYSE:UNM)

Envestnet Portfolio Solutions Inc. increased its position in Unum Group (NYSE:UNM) by 18.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,486 shares of the financial services provider’s stock after purchasing an additional 860 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Unum Group were worth $401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barrett & Company Inc. boosted its position in shares of Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 297 shares during the last quarter. Kestra Investment Management LLC bought a new position in Unum Group during the fourth quarter valued at $38,000. Quarry LP grew its stake in shares of Unum Group by 4,794.7% in the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after buying an additional 911 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Unum Group by 26.4% in the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after buying an additional 160 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Unum Group during the 3rd quarter valued at about $58,000. 86.57% of the stock is owned by institutional investors.

Unum Group Stock Performance

Shares of NYSE:UNM opened at $82.34 on Thursday. The firm’s 50 day simple moving average is $77.35 and its 200-day simple moving average is $70.86. 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 has a one year low of $48.38 and a one year high of $84.48. The firm has a market cap of $14.56 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74.

Unum Group (NYSE:UNM) last released its quarterly earnings data 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 return on equity of 14.91% and a net margin of 13.81%. As a group, equities analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Insiders Place Their Bets

In related news, 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 completion of the sale, the executive vice president now directly owns 31,284 shares in the company, valued at $2,588,751. This represents a 18.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $81.99, for a total value 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 $80,402,427.63. This trade 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 company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on UNM shares. StockNews.com cut Unum Group from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Jefferies Financial Group boosted their target price on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price target on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a research note on Wednesday, March 5th. Finally, 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. Five investment 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, Unum Group has an average rating of “Moderate Buy” and an average target price of $86.62.

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.