Amundi Sells 553,829 Shares of Unum Group (NYSE:UNM)

Amundi reduced its stake in Unum Group (NYSE:UNM) by 60.6% during the 4th quarter, Holdings Channel reports. The firm owned 360,819 shares of the financial services provider’s stock after selling 553,829 shares during the period. Amundi’s holdings in Unum Group were worth $26,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allianz Asset Management GmbH lifted its holdings in Unum Group by 44.9% during the fourth quarter. Allianz Asset Management GmbH now owns 1,264,994 shares of the financial services provider’s stock worth $92,383,000 after acquiring an additional 392,191 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in Unum Group by 151.7% during the third quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after acquiring an additional 307,175 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Unum Group by 23.3% during the fourth quarter. Victory Capital Management Inc. now owns 1,462,917 shares of the financial services provider’s stock worth $106,837,000 after acquiring an additional 276,655 shares in the last quarter. Raymond James Financial Inc. bought a new position in Unum Group during the fourth quarter worth about $19,617,000. Finally, Proficio Capital Partners LLC bought a new position in Unum Group during the fourth quarter worth about $11,456,000. 86.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on UNM shares. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $79.00 target price (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. BMO Capital Markets lifted their target price on Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a report on Monday, March 3rd. Piper Sandler boosted their price target on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price target on Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $86.62.

Unum Group Price Performance

NYSE:UNM opened at $76.98 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The stock’s 50-day simple moving average is $75.88 and its 200 day simple moving average is $69.12. The company has a market cap of $13.61 billion, a P/E ratio of 8.13, a P/E/G 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.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (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%. As a group, sell-side analysts forecast that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors 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 2.18%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio is currently 17.74%.

Unum Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Unum Group

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

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.