Arrowstreet Capital Limited Partnership Acquires 110,342 Shares of Unum Group $UNM

Arrowstreet Capital Limited Partnership raised its stake in shares of Unum Group (NYSE:UNM) by 21.2% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 631,694 shares of the financial services provider’s stock after purchasing an additional 110,342 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.40% of Unum Group worth $46,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UNM. Norges Bank bought a new position in shares of Unum Group in the fourth quarter valued at approximately $1,108,919,000. Zurich Insurance Group Ltd FI bought a new stake in Unum Group during the fourth quarter worth $58,860,000. Alyeska Investment Group L.P. raised its position in Unum Group by 365.3% in the 4th quarter. Alyeska Investment Group L.P. now owns 930,534 shares of the financial services provider’s stock valued at $72,116,000 after buying an additional 730,534 shares during the last quarter. AQR Capital Management LLC raised its position in Unum Group by 35.1% in the 3rd quarter. AQR Capital Management LLC now owns 2,339,289 shares of the financial services provider’s stock valued at $181,622,000 after buying an additional 607,684 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Unum Group by 127.3% during the 3rd quarter. Two Sigma Investments LP now owns 864,485 shares of the financial services provider’s stock valued at $67,240,000 after acquiring an additional 484,107 shares in the last quarter. 86.57% of the stock is owned by institutional investors.

Unum Group Price Performance

NYSE UNM opened at $86.33 on Tuesday. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.35. The company has a market cap of $13.79 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 0.86 and a beta of 0.25. Unum Group has a 52 week low of $68.28 and a 52 week high of $93.21. The firm’s 50-day simple moving average is $87.95 and its two-hundred day simple moving average is $80.13.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.07. Unum Group had a net margin of 5.86% and a return on equity of 12.60%. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter last year, the company earned $2.04 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Research analysts predict that Unum Group will post 8.75 earnings per share for the current year.

Unum Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be issued a dividend of $0.505 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Unum Group’s previous quarterly dividend of $0.46. Unum Group’s payout ratio is 43.91%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on UNM. Bank of America cut their price objective on shares of Unum Group from $83.00 to $77.00 and set a “neutral” rating on the stock in a report on Tuesday, April 14th. Morgan Stanley increased their target price on shares of Unum Group from $80.00 to $87.00 and gave the company an “equal weight” rating in a report on Thursday, May 21st. JPMorgan Chase & Co. raised their price target on shares of Unum Group from $90.00 to $101.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Wells Fargo & Company upped their price objective on shares of Unum Group from $100.00 to $101.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Finally, Atlantic Securities set a $88.00 price objective on shares of Unum Group in a research report on Wednesday, July 15th. Eight equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $98.17.

Insider Buying and Selling at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $80.14, for a total value of $961,680.00. Following the completion of the sale, the executive vice president owned 42,587 shares in the company, valued at $3,412,922.18. The trade was a 21.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.00% of the company’s stock.

Unum Group Profile

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.