American International Group Inc. Sells 11,423 Shares of Unum Group (NYSE:UNM)

American International Group Inc. cut its holdings in shares of Unum Group (NYSE:UNM) by 4.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 247,763 shares of the financial services provider’s stock after selling 11,423 shares during the quarter. American International Group Inc. owned approximately 0.13% of Unum Group worth $11,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Beacon Financial Group bought a new stake in Unum Group during the 4th quarter worth about $277,000. Boone Capital Management LLC increased its stake in shares of Unum Group by 10.8% during the 4th quarter. Boone Capital Management LLC now owns 961,661 shares of the financial services provider’s stock worth $43,486,000 after purchasing an additional 94,096 shares during the last quarter. Pinebridge Investments L.P. increased its stake in shares of Unum Group by 56.6% during the 4th quarter. Pinebridge Investments L.P. now owns 83,449 shares of the financial services provider’s stock worth $3,774,000 after purchasing an additional 30,169 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Unum Group by 15.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 33,661 shares of the financial services provider’s stock worth $1,522,000 after purchasing an additional 4,556 shares during the last quarter. Finally, Eisler Capital UK Ltd. acquired a new position in shares of Unum Group during the 4th quarter worth about $1,056,000. 86.57% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on UNM shares. JPMorgan Chase & Co. boosted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Wells Fargo & Company boosted their price objective on shares of Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Morgan Stanley boosted their price objective on shares of Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Monday, April 15th. Finally, Truist Financial upped their price target on shares of Unum Group from $57.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.38.

Unum Group Stock Performance

Shares of NYSE:UNM opened at $49.21 on Tuesday. The company’s 50 day moving average price is $51.70 and its two-hundred day moving average price is $49.31. Unum Group has a 12-month low of $41.75 and a 12-month high of $54.57. The firm has a market cap of $9.32 billion, a PE ratio of 7.31, a PEG ratio of 1.03 and a beta of 0.83. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.34.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the prior year, the business posted $1.87 EPS. The business’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that Unum Group will post 8.24 earnings per share for the current year.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Friday, April 26th were given a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.97%. Unum Group’s payout ratio is presently 21.69%.

Insiders Place Their Bets

In other Unum Group news, EVP Christopher W. Pyne sold 4,500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total transaction of $236,115.00. Following the transaction, the executive vice president now owns 56,262 shares in the company, valued at approximately $2,952,067.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Timothy F. Keaney sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the sale, the director now owns 37,505 shares of the company’s stock, valued at approximately $1,973,138.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christopher W. Pyne sold 4,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.47, for a total transaction of $236,115.00. Following the sale, the executive vice president now directly owns 56,262 shares of the company’s stock, valued at approximately $2,952,067.14. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

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.