Boothbay Fund Management LLC Makes New $514,000 Investment in Unum Group (NYSE:UNM)

Boothbay Fund Management LLC bought a new stake in shares of Unum Group (NYSE:UNM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 7,042 shares of the financial services provider’s stock, valued at approximately $514,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UNM. Barrett & Company Inc. grew its stake in Unum Group by 300.0% during the 4th 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 last quarter. Kestra Investment Management LLC bought a new position in shares of Unum Group during the fourth quarter worth about $38,000. Millstone Evans Group LLC acquired a new stake in shares of Unum Group in the 4th quarter worth about $45,000. Versant Capital Management Inc lifted its position in Unum Group by 26.4% in 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in Unum Group by 28.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock valued at $58,000 after purchasing an additional 179 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Stock Performance

Shares of UNM opened at $77.64 on Thursday. Unum Group has a one year low of $48.38 and a one year high of $84.48. The company has a 50-day moving average of $78.30 and a two-hundred day moving average of $74.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The stock has a market cap of $13.68 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.14 and a beta of 0.46.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.15). The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.34 billion. Unum Group had a return on equity of 14.91% and a net margin of 13.81%. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. On average, equities research analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group announced that its board has initiated a share repurchase plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Investors of record on Friday, April 25th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.16%. The ex-dividend date is Friday, April 25th. Unum Group’s dividend payout ratio is currently 17.74%.

Insiders Place Their Bets

In related news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the completion of the sale, the executive vice president now directly owns 31,284 shares in the company, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the transaction, the chief executive officer now directly owns 980,637 shares in the company, valued at $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on UNM. Morgan Stanley raised their price target on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. BMO Capital Markets lifted their target price on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday, March 3rd. StockNews.com cut Unum Group from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Keefe, Bruyette & Woods cut their price objective on shares of Unum Group from $103.00 to $102.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Unum Group from $81.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, April 2nd. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $88.36.

About Unum Group

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.