Ieq Capital LLC Grows Stake in Unum Group (NYSE:UNM)

Ieq Capital LLC increased its holdings in Unum Group (NYSE:UNM) by 22.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,016 shares of the financial services provider’s stock after purchasing an additional 3,695 shares during the period. Ieq Capital LLC’s holdings in Unum Group were worth $1,462,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in UNM. Convergence Investment Partners LLC lifted its holdings in shares of Unum Group by 10.3% in the fourth quarter. Convergence Investment Partners LLC now owns 17,737 shares of the financial services provider’s stock worth $1,295,000 after buying an additional 1,661 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Unum Group in the 4th quarter valued at $675,000. Kestra Investment Management LLC purchased a new stake in Unum Group in the 4th quarter worth $38,000. Atria Wealth Solutions Inc. bought a new position in shares of Unum Group during the 4th quarter valued at about $230,000. Finally, Venturi Wealth Management LLC grew its position in shares of Unum Group by 30.0% during the fourth quarter. Venturi Wealth Management LLC now owns 1,206 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 278 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors.

Unum Group Stock Up 0.9 %

Shares of UNM opened at $74.74 on Tuesday. The firm has a fifty day moving average price of $74.30 and a 200-day moving average price of $67.10. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $13.65 billion, a P/E ratio of 7.89, a P/E/G ratio of 1.14 and a beta of 0.80. Unum Group has a 12-month low of $48.38 and a 12-month high of $79.43.

Unum Group (NYSE:UNM) last issued its earnings results 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 return on equity of 14.91% and a net margin of 13.81%. Equities research analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 24th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $67.00 to $84.00 in a research note on Thursday, November 14th. Wells Fargo & Company raised 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. Barclays upped their price target 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. JPMorgan Chase & Co. restated 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. Finally, Truist Financial increased their price target on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $81.17.

Insiders Place Their Bets

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now owns 54,827 shares in the company, valued at approximately $4,217,292.84. The trade was a 15.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.93% of the company’s stock.

Unum Group Company 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.