Man Group plc Has $13.64 Million Position in Unum Group (NYSE:UNM)

Man Group plc reduced its holdings in Unum Group (NYSE:UNM) by 54.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 186,832 shares of the financial services provider’s stock after selling 223,738 shares during the quarter. Man Group plc owned about 0.10% of Unum Group worth $13,644,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Nomura Holdings Inc. acquired a new stake in shares of Unum Group in the fourth quarter valued at about $3,810,000. NorthRock Partners LLC grew its position in Unum Group by 38.3% during the fourth quarter. NorthRock Partners LLC now owns 7,284 shares of the financial services provider’s stock worth $532,000 after buying an additional 2,018 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Unum Group by 2.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,221,569 shares of the financial services provider’s stock valued at $89,211,000 after acquiring an additional 24,461 shares during the period. Mubadala Investment Co PJSC bought a new position in Unum Group during the fourth quarter valued at about $2,463,000. Finally, NDVR Inc. increased its stake in Unum Group by 4.9% during the fourth quarter. NDVR Inc. now owns 4,548 shares of the financial services provider’s stock valued at $332,000 after acquiring an additional 213 shares during the period. 86.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 completion of the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares of the company’s stock, valued at $2,588,751. This trade represents a 18.28% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,000 shares of company stock worth $5,478,750. Insiders own 0.92% of the company’s stock.

Unum Group Stock Up 1.6%

NYSE UNM opened at $82.07 on Friday. 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 stock’s 50 day moving average is $78.56 and its two-hundred day moving average is $75.78. The company has a market capitalization of $14.31 billion, a price-to-earnings ratio of 8.67, a PEG ratio of 1.14 and a beta of 0.38. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.15). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. Equities analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group declared that its board has initiated a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Unum Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend was Friday, April 25th. Unum Group’s dividend payout ratio (DPR) is currently 19.79%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on UNM. JPMorgan Chase & Co. boosted their price target on Unum Group from $81.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, April 2nd. Barclays boosted their price target on Unum Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research note on Friday, April 11th. Morgan Stanley boosted their price target on Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Wells Fargo & Company boosted their price target on Unum Group from $95.00 to $97.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Finally, Piper Sandler boosted their price target on Unum Group from $87.00 to $92.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.50.

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.