Principal Financial Group Inc. Has $23.62 Million Stock Position in Unum Group (NYSE:UNM)

Principal Financial Group Inc. lessened its position in shares of Unum Group (NYSE:UNM) by 33.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 397,292 shares of the financial services provider’s stock after selling 197,056 shares during the quarter. Principal Financial Group Inc.’s holdings in Unum Group were worth $23,615,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UNM. BNP Paribas Financial Markets raised its stake in shares of Unum Group by 116.3% during the first quarter. BNP Paribas Financial Markets now owns 34,606 shares of the financial services provider’s stock worth $1,857,000 after buying an additional 18,604 shares during the last quarter. Sei Investments Co. raised its position in shares of Unum Group by 105.8% during the 1st quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider’s stock valued at $20,263,000 after acquiring an additional 194,125 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Unum Group by 3.1% in the 1st quarter. QRG Capital Management Inc. now owns 12,560 shares of the financial services provider’s stock valued at $674,000 after purchasing an additional 375 shares during the period. Bleakley Financial Group LLC boosted its position in shares of Unum Group by 5.3% in the 1st quarter. Bleakley Financial Group LLC now owns 5,645 shares of the financial services provider’s stock worth $303,000 after purchasing an additional 283 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in shares of Unum Group by 8.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 177,593 shares of the financial services provider’s stock worth $9,530,000 after purchasing an additional 13,171 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

Unum Group Trading Down 0.4 %

Shares of NYSE:UNM opened at $71.04 on Thursday. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 1.05 and a beta of 0.76. Unum Group has a 12 month low of $41.86 and a 12 month high of $71.44. The company’s fifty day simple moving average is $61.20 and its 200 day simple moving average is $55.62. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 EPS. As a group, research analysts forecast that Unum Group will post 8.52 EPS for the current fiscal year.

Unum Group announced that its board has initiated a share buyback plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Unum Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Friday, October 25th. Unum Group’s dividend payout ratio is presently 18.18%.

Insider Buying and Selling at Unum Group

In other news, EVP Christopher W. Pyne sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total transaction of $227,565.00. Following the completion of the transaction, the executive vice president now directly owns 50,762 shares of the company’s stock, valued at $3,554,355.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Christopher W. Pyne sold 3,250 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total transaction of $227,565.00. Following the completion of the transaction, the executive vice president now directly owns 50,762 shares in the company, valued at $3,554,355.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,545 shares of company stock worth $4,380,074. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Wells Fargo & Company increased their target price on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Citigroup increased their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. UBS Group raised shares of Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Morgan Stanley upped 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.09.

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.