Flputnam Investment Management Co. Lowers Stock Position in Unum Group $UNM

Flputnam Investment Management Co. cut its holdings in shares of Unum Group (NYSE:UNM) by 29.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,250 shares of the financial services provider’s stock after selling 18,515 shares during the period. Flputnam Investment Management Co.’s holdings in Unum Group were worth $3,442,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in Unum Group during the 2nd quarter valued at $1,113,353,000. Geode Capital Management LLC lifted its stake in shares of Unum Group by 7.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,341,589 shares of the financial services provider’s stock worth $271,862,000 after purchasing an additional 219,076 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Unum Group by 11.5% during the second quarter. Allianz Asset Management GmbH now owns 1,537,189 shares of the financial services provider’s stock valued at $124,143,000 after purchasing an additional 159,084 shares in the last quarter. Nordea Investment Management AB grew its stake in Unum Group by 3.6% in the second quarter. Nordea Investment Management AB now owns 1,482,096 shares of the financial services provider’s stock valued at $119,235,000 after purchasing an additional 51,750 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Unum Group by 0.5% in the first quarter. Royal Bank of Canada now owns 1,416,124 shares of the financial services provider’s stock worth $115,358,000 after purchasing an additional 6,648 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on UNM. Weiss Ratings restated a “buy (b-)” rating on shares of Unum Group in a report on Monday, December 15th. Evercore ISI increased their target price on shares of Unum Group from $96.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. cut their price target on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, November 4th. Morgan Stanley set a $85.00 price target on Unum Group in a research report on Monday, December 15th. Finally, Barclays increased their price objective on Unum Group from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.91.

Insider Transactions at Unum Group

In related news, EVP Steven Andrew Zabel sold 7,500 shares of Unum Group stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $76.38, for a total transaction of $572,850.00. Following the completion of the sale, the executive vice president owned 113,807 shares of the company’s stock, valued at $8,692,578.66. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Christopher W. Pyne sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $78.04, for a total value of $312,160.00. Following the completion of the sale, the executive vice president owned 51,372 shares in the company, valued at approximately $4,009,070.88. This represents a 7.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,400 shares of company stock worth $951,160 over the last three months. 0.93% of the stock is currently owned by insiders.

Unum Group Trading Down 0.4%

Shares of Unum Group stock opened at $79.11 on Monday. The firm’s 50 day simple moving average is $75.90 and its two-hundred day simple moving average is $76.01. The firm has a market capitalization of $13.24 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.55 and a beta of 0.20. Unum Group has a 12-month low of $66.81 and a 12-month high of $84.48. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Monday, November 3rd. The financial services provider reported $2.09 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.06). Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the firm posted $2.13 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were issued a $0.46 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.3%. Unum Group’s dividend payout ratio is currently 35.87%.

Unum Group declared that its Board of Directors has initiated a stock buyback program on Thursday, December 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

About Unum Group

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.