Invesco Ltd. Grows Stake in Unum Group (NYSE:UNM)

Invesco Ltd. lifted its stake in Unum Group (NYSE:UNM) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 891,334 shares of the financial services provider’s stock after buying an additional 78,833 shares during the period. Invesco Ltd. owned approximately 0.49% of Unum Group worth $65,094,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Bank of Montreal Can boosted its holdings in Unum Group by 3.6% in the 4th quarter. Bank of Montreal Can now owns 45,648 shares of the financial services provider’s stock worth $3,334,000 after acquiring an additional 1,568 shares during the period. Cerity Partners LLC lifted its position in shares of Unum Group by 10.1% during the fourth quarter. Cerity Partners LLC now owns 78,886 shares of the financial services provider’s stock worth $5,461,000 after purchasing an additional 7,219 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Unum Group by 7.7% in the fourth quarter. Russell Investments Group Ltd. now owns 234,916 shares of the financial services provider’s stock valued at $17,157,000 after purchasing an additional 16,863 shares during the period. Envestnet Asset Management Inc. grew its holdings in Unum Group by 9.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 79,133 shares of the financial services provider’s stock valued at $5,779,000 after purchasing an additional 6,555 shares in the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in Unum Group during the 4th quarter worth $390,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UNM. Barclays raised their target price on Unum Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday. StockNews.com downgraded Unum Group from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Keefe, Bruyette & Woods reduced their target price on Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Raymond James upgraded shares of Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target for the company in a research note on Wednesday, March 5th. Finally, Morgan Stanley increased 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 note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.36.

Insider Transactions at Unum Group

In other Unum Group news, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This represents a 18.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now owns 980,637 shares in the company, valued at $80,402,427.63. The trade was a 4.85 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Unum Group Price Performance

UNM opened at $76.84 on Tuesday. 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 company’s 50-day moving average price is $77.78 and its 200 day moving average price is $73.08. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48. The firm has a market cap of $13.58 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.14 and a beta of 0.46.

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

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, April 25th. Unum Group’s dividend payout ratio (DPR) is 17.74%.

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

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.