Northwest & Ethical Investments L.P. Purchases Shares of 2,900 Unum Group (NYSE:UNM)

Northwest & Ethical Investments L.P. acquired a new position in Unum Group (NYSE:UNM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 2,900 shares of the financial services provider’s stock, valued at approximately $212,000.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of Unum Group by 26.4% in the fourth quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 160 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Unum Group by 28.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after purchasing an additional 179 shares in the last quarter. QRG Capital Management Inc. lifted its position in Unum Group by 1.4% in the fourth quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 189 shares during the period. Brooklyn Investment Group boosted its stake in Unum Group by 3.1% during the 3rd quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock valued at $392,000 after purchasing an additional 197 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Unum Group by 0.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider’s stock valued at $2,568,000 after purchasing an additional 202 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the business’s stock in a transaction dated 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 owns 31,284 shares in the company, valued at $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the transaction, the chief executive officer now directly owns 980,637 shares in the company, 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 currently owned by corporate insiders.

Unum Group Stock Up 0.6 %

NYSE:UNM opened at $81.54 on Friday. The business’s fifty day moving average price is $76.93 and its 200 day moving average price is $70.36. The firm has a market capitalization of $14.41 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 1.14 and a beta of 0.74. 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 1-year low of $48.38 and a 1-year high of $83.96.

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

Unum Group announced that its board has authorized a share buyback plan on Tuesday, February 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7.4% 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were paid a dividend of $0.42 per share. 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 (DPR) is currently 17.74%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UNM. Jefferies Financial Group upped their price objective on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley raised their price objective on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 target price (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. StockNews.com cut shares of Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Piper Sandler upped 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. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $86.62.

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.