Unum Group (NYSE:UNM) Stake Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of Unum Group (NYSE:UNM) by 14.1% during the fourth quarter, HoldingsChannel reports. The fund owned 711,866 shares of the financial services provider’s stock after acquiring an additional 88,142 shares during the quarter. JPMorgan Chase & Co.’s holdings in Unum Group were worth $51,988,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Barrett & Company Inc. lifted its position in shares of Unum Group by 300.0% during the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in Unum Group during the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC acquired a new position in shares of Unum Group in the 4th quarter worth approximately $45,000. Quarry LP increased its holdings 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 valued at $55,000 after acquiring an additional 911 shares during the last quarter. Finally, 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 valued at $56,000 after acquiring an additional 160 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. 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 Unum Group stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 980,637 shares in the company, valued at $80,402,427.63. This represents a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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 report on Friday, February 28th. Barclays lifted their price target on shares of Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, January 6th. UBS Group increased their price objective on shares of Unum Group from $75.00 to $91.00 and gave the stock a “neutral” rating in a research note on Wednesday. BMO Capital Markets lifted their target price on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. Finally, 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 report on Wednesday, February 19th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.86.

Unum Group Stock Performance

UNM stock opened at $71.14 on Friday. The company has a 50-day simple moving average of $78.19 and a 200 day simple moving average of $72.06. The company has a market capitalization of $12.58 billion, a P/E ratio of 7.51, a PEG ratio of 1.14 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48.

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 analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Sell-side analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

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

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

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.