Summit Global Investments Reduces Position in Unum Group (NYSE:UNM)

Summit Global Investments lessened its holdings in shares of Unum Group (NYSE:UNM) by 6.6% in the 4th quarter, Holdings Channel reports. The fund owned 62,259 shares of the financial services provider’s stock after selling 4,374 shares during the quarter. Summit Global Investments’ holdings in Unum Group were worth $4,547,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Barrett & Company Inc. grew its stake in Unum Group by 300.0% during the 4th 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 in the last quarter. Kestra Investment Management LLC acquired a new position in Unum Group in the 4th quarter valued at about $38,000. Versant Capital Management Inc boosted its holdings in 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 purchasing an additional 160 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Unum Group by 28.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 179 shares during the last quarter. Finally, Duncker Streett & Co. Inc. acquired a new position in Unum Group in the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Price Performance

Unum Group stock opened at $81.54 on Friday. The firm has a market cap of $14.41 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. Unum Group has a 52-week low of $48.38 and a 52-week high of $83.96. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average is $76.93 and its two-hundred day moving average is $70.25.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio is presently 17.74%.

Unum Group declared that its board has approved a share buyback plan on Tuesday, February 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms have weighed in on UNM. 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 report 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 report on Wednesday, February 19th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $79.00 price objective (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Raymond James upgraded shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price objective on the stock in a report on Wednesday, March 5th. Finally, StockNews.com lowered shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.62.

Insider Buying and Selling at Unum Group

In related news, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total value of $4,099,500.00. Following the transaction, the chief executive officer now directly owns 980,637 shares of the company’s stock, valued at $80,402,427.63. This trade represents a 4.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

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.