QRG Capital Management Inc. Has $820,000 Stock Position in Unum Group $UNM

QRG Capital Management Inc. lessened its holdings in shares of Unum Group (NYSE:UNM) by 47.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,537 shares of the financial services provider’s stock after selling 9,378 shares during the quarter. QRG Capital Management Inc.’s holdings in Unum Group were worth $820,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in shares of Unum Group during the fourth quarter worth about $247,000. Wealth Enhancement Advisory Services LLC increased its stake in Unum Group by 22.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 48,074 shares of the financial services provider’s stock worth $3,948,000 after purchasing an additional 8,933 shares in the last quarter. U.S. Capital Wealth Advisors LLC acquired a new stake in Unum Group during the 2nd quarter worth approximately $2,015,000. GAMMA Investing LLC lifted its stake in Unum Group by 2.5% in the second quarter. GAMMA Investing LLC now owns 9,057 shares of the financial services provider’s stock valued at $731,000 after buying an additional 223 shares in the last quarter. Finally, Signet Financial Management LLC boosted its holdings in shares of Unum Group by 8.2% in the second quarter. Signet Financial Management LLC now owns 12,221 shares of the financial services provider’s stock valued at $987,000 after buying an additional 931 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Walter Lynn Rice, Jr. sold 900 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $73.50, for a total transaction of $66,150.00. Following the transaction, the chief accounting officer directly owned 8,940 shares in the company, valued at $657,090. The trade was a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Steven Andrew Zabel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $76.38, for a total transaction of $572,850.00. Following the completion of the sale, the executive vice president directly owned 113,807 shares in the company, valued at approximately $8,692,578.66. The trade was a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 12,400 shares of company stock valued at $951,160 in the last quarter. Company insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Unum Group from $98.00 to $104.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Morgan Stanley set a $85.00 target price on Unum Group in a report on Monday, December 15th. Jefferies Financial Group restated a “buy” rating and issued a $115.00 price target on shares of Unum Group in a report on Monday, January 5th. Citigroup reaffirmed a “market perform” rating on shares of Unum Group in a research report on Thursday, December 18th. Finally, Barclays reissued an “overweight” rating on shares of Unum Group in a research report on Thursday, January 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.08.

Unum Group Stock Performance

Shares of NYSE UNM opened at $76.70 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50 day moving average price of $77.05 and a 200 day moving average price of $75.81. The stock has a market capitalization of $12.83 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.35 and a beta of 0.20. Unum Group has a 52 week low of $66.81 and a 52 week high of $84.48.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.06). The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.31 billion. Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $2.13 EPS. 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 share repurchase plan on Thursday, December 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Friday, January 30th will be paid a $0.46 dividend. The ex-dividend date is Friday, January 30th. This represents a $1.84 dividend on an annualized basis and a yield of 2.4%. Unum Group’s dividend payout ratio (DPR) is currently 35.87%.

About Unum Group

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.