Unum Group (NYSE:UNM) Holdings Raised by Convergence Investment Partners LLC

Convergence Investment Partners LLC increased its stake in Unum Group (NYSE:UNM) by 10.3% during the fourth quarter, HoldingsChannel reports. The firm owned 17,737 shares of the financial services provider’s stock after acquiring an additional 1,661 shares during the period. Convergence Investment Partners LLC’s holdings in Unum Group were worth $1,295,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of UNM. Barrett & Company Inc. boosted its holdings in shares of Unum Group by 300.0% in the fourth 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 period. Capital Performance Advisors LLP purchased a new stake in shares of Unum Group in the 3rd quarter valued at approximately $31,000. Kestra Investment Management LLC acquired a new position in Unum Group in the 4th quarter worth approximately $38,000. Quarry LP grew 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 raised its stake in Unum Group by 26.4% during 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 period. Institutional investors and hedge funds own 86.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UNM. Morgan Stanley raised their target price on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. BMO Capital Markets started coverage on Unum Group in a research report on Thursday, January 23rd. They set an “outperform” rating and a $91.00 price objective for the company. Truist Financial upped their target price on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $81.17.

Insider Buying and Selling

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the transaction, the executive vice president now directly owns 54,827 shares of the company’s stock, valued at $4,217,292.84. This trade represents a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.93% of the stock is owned by company insiders.

Unum Group Trading Up 1.3 %

Shares of NYSE:UNM opened at $74.99 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The stock’s 50-day moving average is $74.25 and its 200-day moving average is $66.55. The company has a market cap of $13.69 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.13 and a beta of 0.80. Unum Group has a 52-week low of $48.38 and a 52-week high of $79.43.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. Equities research analysts predict that Unum Group will post 9.15 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s payout ratio is presently 17.74%.

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

Unum Group Company 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.