Principal Financial Group Inc. Sells 10,862 Shares of Unum Group (NYSE:UNM)

Principal Financial Group Inc. decreased its position in shares of Unum Group (NYSE:UNM) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 386,430 shares of the financial services provider’s stock after selling 10,862 shares during the period. Principal Financial Group Inc. owned approximately 0.21% of Unum Group worth $28,221,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of UNM. Barrett & Company Inc. increased its position in Unum Group by 300.0% during the fourth 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. Capital Performance Advisors LLP bought a new position in Unum Group during the third quarter valued at $31,000. Quarry LP increased its position in Unum Group by 4,794.7% during the third 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. Versant Capital Management Inc increased its position in Unum Group by 26.4% during the fourth 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. Finally, Live Oak Investment Partners bought a new position in Unum Group during the third quarter valued at $58,000. Institutional investors own 86.57% of the company’s stock.

Insider Buying and Selling at Unum Group

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total transaction of $769,200.00. Following the transaction, the executive vice president now owns 54,827 shares in the company, valued at $4,217,292.84. This represents a 15.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Unum Group Stock Performance

UNM stock opened at $74.07 on Friday. The firm has a market cap of $13.53 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 1.14 and a beta of 0.80. The firm has a 50-day simple moving average of $74.28 and a two-hundred day simple moving average of $66.85. Unum Group has a one year low of $48.38 and a one year high of $79.43. 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 results 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 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 EPS for the current fiscal year.

Unum Group declared that its board has initiated a stock buyback plan 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 reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 2.27%. The ex-dividend date was Friday, January 24th. Unum Group’s payout ratio is 17.74%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UNM shares. StockNews.com raised shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Jefferies Financial Group boosted their target price on shares of Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wells Fargo & Company boosted their target price on shares of Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday. Piper Sandler boosted their target price on shares of Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley boosted their target price on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and an average price target of $81.17.

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.