CIBC World Markets Inc. increased its stake in Unum Group (NYSE:UNM) by 343.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,645 shares of the financial services provider’s stock after buying an additional 35,358 shares during the quarter. CIBC World Markets Inc.’s holdings in Unum Group were worth $2,173,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in shares of Unum Group in the 1st quarter valued at approximately $348,000. Sentinel Trust Co. LBA lifted its holdings in Unum Group by 103.2% during the 1st quarter. Sentinel Trust Co. LBA now owns 65,782 shares of the financial services provider’s stock valued at $3,132,000 after purchasing an additional 33,405 shares during the last quarter. Millennium Management LLC lifted its holdings in Unum Group by 90.9% during the 1st quarter. Millennium Management LLC now owns 1,550,354 shares of the financial services provider’s stock valued at $73,812,000 after purchasing an additional 738,146 shares during the last quarter. Assetmark Inc. lifted its holdings in Unum Group by 78.3% during the 1st quarter. Assetmark Inc. now owns 10,082 shares of the financial services provider’s stock valued at $480,000 after purchasing an additional 4,427 shares during the last quarter. Finally, Banco de Sabadell S.A acquired a new stake in Unum Group during the 1st quarter valued at $839,000. 91.68% of the stock is owned by institutional investors.
UNM opened at $38.11 on Tuesday. Unum Group has a fifty-two week low of $36.91 and a fifty-two week high of $58.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.17 and a quick ratio of 0.17. The firm has a market cap of $8.40 billion, a PE ratio of 8.88, a PEG ratio of 1.06 and a beta of 1.40.
Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, May 1st. The financial services provider reported $1.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.01). Unum Group had a return on equity of 10.73% and a net margin of 9.12%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.89 billion. During the same period in the prior year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. sell-side analysts predict that Unum Group will post 5.11 EPS for the current year.
Unum Group declared that its Board of Directors has approved a share buyback program on Thursday, May 24th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 8.7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In other news, EVP Michael Q. Simonds sold 5,000 shares of Unum Group stock in a transaction on Monday, April 30th. The stock was sold at an average price of $48.94, for a total transaction of $244,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is currently owned by company insiders.
Several equities research analysts have issued reports on the company. Citigroup set a $44.00 price target on Unum Group and gave the company a “hold” rating in a report on Tuesday, June 12th. Wells Fargo & Co reaffirmed a “hold” rating and set a $53.00 price target on shares of Unum Group in a report on Wednesday, May 2nd. Royal Bank of Canada cut their price target on Unum Group to $44.00 and set a “sector perform” rating for the company in a report on Thursday, May 3rd. They noted that the move was a valuation call. Morgan Stanley cut their price target on Unum Group from $60.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, May 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $57.00 price target on shares of Unum Group in a report on Thursday, April 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $53.46.
Unum Group Company Profile
Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.
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