The Manufacturers Life Insurance Company lessened its position in Unum Group (NYSE:UNM) by 11.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 205,670 shares of the financial services provider’s stock after selling 26,985 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Unum Group worth $9,792,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pinebridge Investments L.P. raised its holdings in Unum Group by 160.9% in the 4th quarter. Pinebridge Investments L.P. now owns 2,930 shares of the financial services provider’s stock worth $161,000 after acquiring an additional 1,807 shares during the period. Gotham Asset Management LLC bought a new position in Unum Group in the 4th quarter worth $218,000. Scotia Capital Inc. bought a new position in Unum Group in the 4th quarter worth $221,000. Quadrature Capital Ltd bought a new position in Unum Group in the 1st quarter worth $222,000. Finally, IBM Retirement Fund bought a new position in Unum Group in the 1st quarter worth $234,000. Hedge funds and other institutional investors own 91.80% of the company’s stock.
Unum Group opened at $36.99 on Friday, according to Marketbeat.com. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $8.10 billion, a price-to-earnings ratio of 8.62, a P/E/G ratio of 0.80 and a beta of 1.40. Unum Group has a 52-week low of $36.15 and a 52-week high of $58.73.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, May 1st. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.01). The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.89 billion. Unum Group had a return on equity of 10.73% and a net margin of 9.12%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 earnings per share. research analysts forecast that Unum Group will post 5.1 EPS for the current fiscal year.
Unum Group announced that its Board of Directors has authorized a stock repurchase plan on Thursday, May 24th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
In other Unum Group news, EVP Michael Q. Simonds sold 5,000 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $48.94, for a total value of $244,700.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.40% of the company’s stock.
Several research analysts recently commented on UNM shares. Zacks Investment Research downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Morgan Stanley dropped their target price on shares of Unum Group from $60.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 2nd. Citigroup set a $44.00 target price on shares of Unum Group and gave the stock a “hold” rating in a report on Tuesday, June 12th. Bank of America started coverage on shares of Unum Group in a report on Monday, March 26th. They issued an “underperform” rating and a $50.00 target price on the stock. Finally, UBS Group started coverage on shares of Unum Group in a report on Friday, March 2nd. They issued a “neutral” rating and a $57.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $53.46.
Unum Group 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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