Concentric Capital Strategies LP Invests $1.72 Million in Unum Group (NYSE:UNM)

Concentric Capital Strategies LP acquired a new stake in shares of Unum Group (NYSE:UNM) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 23,508 shares of the financial services provider’s stock, valued at approximately $1,717,000.

Other large investors have also added to or reduced their stakes in the company. Barrett & Company Inc. grew its stake 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 acquiring an additional 297 shares during the last quarter. Kestra Investment Management LLC bought a new position in Unum Group in the 4th quarter worth about $38,000. Millstone Evans Group LLC purchased a new stake in Unum Group during the 4th quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. increased 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Unum Group during the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Stock Performance

Shares of NYSE UNM opened at $80.55 on Thursday. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12-month low of $48.38 and a 12-month high of $84.48. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 8.51, a price-to-earnings-growth ratio of 1.14 and a beta of 0.38. The firm has a 50 day moving average of $78.37 and a 200 day moving average of $74.83.

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

Unum Group declared that its board has authorized a stock buyback program on Tuesday, February 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 16th. Stockholders of record on Friday, April 25th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, April 25th. Unum Group’s dividend payout ratio (DPR) is currently 19.79%.

Insider Activity

In other news, CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the transaction, the chief executive officer now owns 980,637 shares of the company’s stock, valued at $80,402,427.63. This represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $82.75, for a total value of $579,250.00. Following the sale, the executive vice president now owns 31,284 shares of the company’s stock, valued at $2,588,751. This represents a 18.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Morgan Stanley increased their price target on shares of Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Raymond James upgraded Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods decreased their price target on Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Barclays increased their price objective on Unum Group from $85.00 to $89.00 and gave the company an “overweight” rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company boosted their target price on Unum Group from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.50.

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.