Caxton Associates LP Boosts Stake in Unum Group (NYSE:UNM)

Caxton Associates LP increased its holdings in shares of Unum Group (NYSE:UNM) by 280.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,382 shares of the financial services provider’s stock after acquiring an additional 13,544 shares during the quarter. Caxton Associates LP’s holdings in Unum Group were worth $940,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new position in Unum Group in the 1st quarter valued at approximately $1,130,000. Boone Capital Management LLC boosted its holdings in Unum Group by 10.8% in the fourth quarter. Boone Capital Management LLC now owns 961,661 shares of the financial services provider’s stock valued at $43,486,000 after purchasing an additional 94,096 shares during the period. Allianz Asset Management GmbH grew its stake in Unum Group by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 950,914 shares of the financial services provider’s stock worth $43,000,000 after purchasing an additional 33,454 shares in the last quarter. First Trust Advisors LP grew its position in shares of Unum Group by 43.0% during the fourth quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock worth $44,021,000 after buying an additional 292,917 shares in the last quarter. Finally, Tidal Investments LLC grew its stake in shares of Unum Group by 80.7% in the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock valued at $3,436,000 after purchasing an additional 28,580 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore ISI boosted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Truist Financial increased their price target on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays initiated coverage on shares of Unum Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price objective for the company. Wells Fargo & Company boosted their target price on Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Jefferies Financial Group increased their target price on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.90.

Unum Group Stock Up 1.1 %

Unum Group stock opened at $58.12 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $10.80 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.85 and a beta of 0.77. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $58.69. The stock’s fifty day moving average is $54.80 and its two-hundred day moving average is $52.85.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $2.02 by $0.14. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.06 EPS. Analysts predict that Unum Group will post 8.48 EPS for the current fiscal year.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date was Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a dividend yield of 2.89%. Unum Group’s dividend payout ratio is currently 24.96%.

Unum Group announced that its board has initiated a stock repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 10% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Unum Group 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.