Convergence Investment Partners LLC Boosts Stake in Unum Group (NYSE:UNM)

Convergence Investment Partners LLC lifted its holdings in shares of Unum Group (NYSE:UNM) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,737 shares of the financial services provider’s stock after acquiring an additional 1,661 shares during the quarter. Convergence Investment Partners LLC’s holdings in Unum Group were worth $1,295,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of UNM. Bleakley Financial Group LLC increased its stake in shares of Unum Group by 8.0% in the third quarter. Bleakley Financial Group LLC now owns 6,809 shares of the financial services provider’s stock worth $405,000 after buying an additional 502 shares during the last quarter. Eastern Bank bought a new stake in shares of Unum Group in the 3rd quarter worth about $226,000. International Assets Investment Management LLC raised its stake in shares of Unum Group by 5,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider’s stock valued at $6,006,000 after purchasing an additional 99,348 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Unum Group by 24.5% during the third quarter. Assenagon Asset Management S.A. now owns 325,796 shares of the financial services provider’s stock worth $19,365,000 after purchasing an additional 64,062 shares during the last quarter. Finally, Ballentine Partners LLC grew its stake in Unum Group by 7.1% in the third quarter. Ballentine Partners LLC now owns 6,806 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 452 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Price Performance

NYSE UNM opened at $74.99 on Thursday. The company has a 50-day moving average price of $74.25 and a two-hundred day moving average price of $66.55. The stock has a market cap of $13.69 billion, a price-to-earnings ratio of 7.92, a price-to-earnings-growth ratio of 1.13 and a beta of 0.80. 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 52 week low of $48.38 and a 52 week high of $79.43.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Analysts forecast that Unum Group will post 9.15 EPS for the current year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio is currently 17.74%.

Unum Group announced that its board has approved a share buyback program on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

UNM has been the topic of several research reports. StockNews.com upgraded Unum Group from a “hold” rating to a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. restated a “neutral” rating and set a $79.00 price objective (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of Unum Group from $76.00 to $85.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price target on shares of Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, BMO Capital Markets began coverage on shares of Unum Group in a research report on Thursday, January 23rd. They set an “outperform” rating and a $91.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.17.

Insider Buying and Selling

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total transaction of $769,200.00. Following the sale, the executive vice president now owns 54,827 shares of the company’s stock, valued at $4,217,292.84. The trade was a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.93% of the company’s stock.

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.