Mitsubishi UFJ Trust & Banking Corp Has $16.80 Million Stock Position in Unum Group (NYSE:UNM)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Unum Group (NYSE:UNM) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,090 shares of the financial services provider’s stock after selling 11,598 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.13% of Unum Group worth $16,803,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of UNM. Barrett & Company Inc. lifted its position in shares of Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after buying an additional 297 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Unum Group in the fourth quarter worth about $38,000. Millstone Evans Group LLC acquired a new stake in shares of Unum Group in the 4th quarter valued at approximately $45,000. Quarry LP increased its position in Unum Group by 4,794.7% during the 3rd quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 911 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake 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. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Stock Down 2.4 %

Shares of NYSE UNM opened at $79.95 on Friday. 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 firm has a market cap of $14.13 billion, a PE ratio of 8.44, a P/E/G ratio of 1.14 and a beta of 0.74. The company’s fifty day simple moving average is $77.78 and its 200 day simple moving average is $71.20. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48.

Unum Group (NYSE:UNM) last released its quarterly earnings data 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 return on equity of 14.91% and a net margin of 13.81%. As a group, sell-side analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders 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 dividend yield of 2.10%. The ex-dividend date was Friday, January 24th. Unum Group’s payout ratio is 17.74%.

Unum Group declared that its board has initiated a share buyback program on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on UNM. StockNews.com cut shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. BMO Capital Markets increased their target price on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research report on Monday, March 3rd. Wells Fargo & Company boosted their price target on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Barclays raised their price objective on shares of Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Finally, Morgan Stanley boosted their target price on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Five investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.62.

Insider Buying and Selling

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the 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 $2,588,751. This represents 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 this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction that occurred 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 in the company, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

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.