HighTower Advisors LLC Sells 20,722 Shares of Unum Group (NYSE:UNM)

HighTower Advisors LLC reduced its position in Unum Group (NYSE:UNM) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 60,169 shares of the financial services provider’s stock after selling 20,722 shares during the quarter. HighTower Advisors LLC’s holdings in Unum Group were worth $4,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc raised its stake 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 acquiring an additional 160 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Unum Group by 28.8% in the fourth 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. CIBC Asset Management Inc boosted its holdings in Unum Group by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock worth $330,000 after buying an additional 180 shares during the period. QRG Capital Management Inc. grew its stake in Unum Group by 1.4% in the 4th quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock valued at $974,000 after buying an additional 189 shares in the last quarter. Finally, Brooklyn Investment Group raised its holdings in Unum Group by 3.1% during the 3rd quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock valued at $392,000 after acquiring an additional 197 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Unum Group Stock Performance

Shares of NYSE UNM opened at $81.51 on Thursday. The stock’s 50-day moving average is $76.40 and its 200 day moving average is $69.91. The stock has a market cap of $14.41 billion, a price-to-earnings ratio of 8.61, a P/E/G ratio of 1.14 and a beta of 0.74. Unum Group has a 1-year low of $48.38 and a 1-year high of $83.96. 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 (NYSE:UNM) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. On average, sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.06%. Unum Group’s dividend payout ratio (DPR) is currently 17.74%.

Unum Group declared that its Board of Directors has approved a stock 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 purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. StockNews.com cut Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Jefferies Financial Group upped their price target on Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company raised their price objective on shares of Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Morgan Stanley upped their target price on shares of Unum Group from $80.00 to $84.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Unum Group from $90.00 to $103.00 and gave the company an “outperform” rating in a report on Friday, February 28th. Five research 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. Based on data from MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and a consensus price target of $86.62.

Insider Transactions at Unum Group

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