Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Unum Group (NYSE:UNM)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Unum Group (NYSE:UNM) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,267 shares of the financial services provider’s stock after buying an additional 3,554 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Unum Group were worth $3,306,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Taika Capital LP purchased a new position in Unum Group in the 4th quarter worth approximately $369,000. Sowell Financial Services LLC grew its stake in Unum Group by 2.8% in the 4th quarter. Sowell Financial Services LLC now owns 24,934 shares of the financial services provider’s stock worth $1,821,000 after buying an additional 689 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Unum Group by 7.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 30,176 shares of the financial services provider’s stock worth $2,204,000 after buying an additional 2,072 shares in the last quarter. Aviance Capital Partners LLC grew its stake in Unum Group by 10.3% in the 4th quarter. Aviance Capital Partners LLC now owns 41,351 shares of the financial services provider’s stock worth $3,020,000 after buying an additional 3,870 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in Unum Group in the 4th quarter worth approximately $9,636,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Raymond James raised shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price objective for the company in a research note on Wednesday, March 5th. Wells Fargo & Company upped their price objective on shares of Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $79.00 price objective (up previously from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Jefferies Financial Group upped their price objective 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. Finally, Barclays upped their price objective on shares of Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Five equities research 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 company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.62.

Unum Group Stock Up 2.4 %

Shares of NYSE UNM opened at $78.99 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12 month low of $48.38 and a 12 month high of $83.96. The firm has a market capitalization of $13.96 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. The firm has a fifty day simple moving average of $76.08 and a two-hundred day simple moving average of $69.45.

Unum Group (NYSE:UNM) last issued 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%. Equities analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.13%. Unum Group’s payout ratio is 17.74%.

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

Insider Buying and Selling

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the 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 transaction, the executive vice president now directly owns 31,284 shares in the company, valued at $2,588,751. This trade represents a 18.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction dated 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 owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

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.