BTC Capital Management Inc. Boosts Holdings in Unum Group (NYSE:UNM)

BTC Capital Management Inc. raised its holdings in shares of Unum Group (NYSE:UNM) by 20.0% in the 1st quarter, Holdings Channel reports. The firm owned 68,437 shares of the financial services provider’s stock after purchasing an additional 11,416 shares during the quarter. BTC Capital Management Inc.’s holdings in Unum Group were worth $5,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in UNM. Barrett & Company Inc. lifted its position in shares of Unum Group by 300.0% during the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 297 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Unum Group during the fourth quarter worth $38,000. Millstone Evans Group LLC bought a new stake in shares of Unum Group during the fourth quarter worth $45,000. Duncker Streett & Co. Inc. bought a new stake in shares of Unum Group during the fourth quarter worth $58,000. Finally, V Square Quantitative Management LLC lifted its position in shares of Unum Group by 36.5% during the fourth quarter. V Square Quantitative Management LLC now owns 958 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 256 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total transaction of $800,000.00. Following the transaction, the executive vice president now owns 51,170 shares in the company, valued at $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa G. Iglesias sold 7,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the transaction, the executive vice president now owns 31,284 shares in the company, valued at approximately $2,588,751. This trade represents a 18.28% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,000 shares of company stock worth $5,478,750. 0.93% of the stock is owned by corporate insiders.

Unum Group Stock Performance

Shares of Unum Group stock opened at $81.73 on Friday. The company has a market capitalization of $14.25 billion, a PE ratio of 8.63, a P/E/G ratio of 1.14 and a beta of 0.38. 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 company has a 50-day simple moving average of $78.61 and a two-hundred day simple moving average of $76.65. Unum Group has a one year low of $48.38 and a one year high of $84.48.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.15). The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.34 billion. Unum Group had a return on equity of 14.91% and a net margin of 13.81%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 earnings per share. Research analysts expect that Unum Group will post 9.14 EPS for the current fiscal year.

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

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were issued a $0.42 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.06%. Unum Group’s dividend payout ratio is presently 19.79%.

Analysts Set New Price Targets

UNM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Unum Group from $81.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Wall Street Zen downgraded Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price objective on Unum Group from $76.00 to $83.00 and gave the company an “equal weight” rating in a report on Monday, May 19th. Barclays lifted their price objective on Unum Group from $85.00 to $89.00 and gave the company an “overweight” rating in a report on Friday, April 11th. Finally, Keefe, Bruyette & Woods decreased their price objective on Unum Group from $103.00 to $102.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Unum Group presently has a consensus rating of “Moderate Buy” and an average price target of $88.29.

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.