Assetmark Inc. Reduces Stock Holdings in Unum Group (NYSE:UNM)

Assetmark Inc. lessened its stake in Unum Group (NYSE:UNM) by 97.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,541 shares of the financial services provider’s stock after selling 622,267 shares during the quarter. Assetmark Inc.’s holdings in Unum Group were worth $1,208,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Barrett & Company Inc. lifted its stake in 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 position in shares of Unum Group in the 4th quarter worth about $38,000. Capital Performance Advisors LLP bought a new position in shares of Unum Group in the 3rd quarter worth about $31,000. Versant Capital Management Inc boosted its holdings in shares of 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 buying an additional 160 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in shares of 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 buying an additional 179 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Buying and Selling

In other news, EVP Lisa G. Iglesias sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total transaction of $579,250.00. Following the transaction, the executive vice president now directly owns 31,284 shares of the company’s stock, valued at approximately $2,588,751. This trade represents a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction 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 completion of the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Stock Up 1.8 %

Shares of NYSE:UNM opened at $78.69 on Wednesday. The company has a market capitalization of $13.91 billion, a PE ratio of 8.31, a P/E/G ratio of 1.14 and a beta of 0.74. The company’s fifty day moving average is $75.67 and its 200-day moving average is $68.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. Unum Group has a 52 week low of $48.38 and a 52 week high of $83.96.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 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%. Equities research analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group announced that its board has authorized a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a $0.42 dividend. 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 2.14%. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

Wall Street Analysts Forecast Growth

UNM has been the topic of several recent research reports. Raymond James raised Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target on the stock in a report on Wednesday, March 5th. BMO Capital Markets boosted their price target on shares of Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a report on Monday, March 3rd. Barclays upped their price target on shares of Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 price objective (up from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. Finally, Piper Sandler upped their target price on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.62.

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.