Mitsubishi UFJ Trust & Banking Corp Sells 11,598 Shares of Unum Group (NYSE:UNM)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in Unum Group (NYSE:UNM) by 4.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 230,090 shares of the financial services provider’s stock after selling 11,598 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Unum Group were worth $16,803,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Unum Group by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider’s stock valued at $1,496,939,000 after purchasing an additional 1,596,078 shares during the period. LPL Financial LLC grew its position in Unum Group by 5.3% during the fourth quarter. LPL Financial LLC now owns 297,229 shares of the financial services provider’s stock valued at $21,707,000 after buying an additional 14,890 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Unum Group during the fourth quarter worth about $4,542,000. Hillsdale Investment Management Inc. raised its position in Unum Group by 3.1% in the fourth quarter. Hillsdale Investment Management Inc. now owns 13,250 shares of the financial services provider’s stock worth $968,000 after acquiring an additional 400 shares during the period. Finally, Sei Investments Co. boosted its stake in Unum Group by 7.9% in the fourth quarter. Sei Investments Co. now owns 397,302 shares of the financial services provider’s stock valued at $29,015,000 after acquiring an additional 29,148 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Trading Down 2.4 %

Shares of UNM stock opened at $79.95 on Friday. The company has a market capitalization of $14.13 billion, a PE ratio of 8.44, 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 $84.48. The business’s fifty day moving average is $77.78 and its 200 day moving average is $71.20. 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 earnings per share 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 research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group announced that its board has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date was Friday, January 24th. Unum Group’s payout ratio is 17.74%.

Insider Activity

In related news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s 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 transaction, the chief executive officer now directly owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. This trade represents a 4.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UNM. BMO Capital Markets lifted their price target on shares of Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Wells Fargo & Company boosted their target price on Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Piper Sandler increased their price target on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Barclays boosted their price objective on Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Five 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.62.

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.