Marshall Wace LLP Raises Stock Position in Unum Group $UNM

Marshall Wace LLP lifted its position in shares of Unum Group (NYSE:UNM) by 60.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 260,623 shares of the financial services provider’s stock after buying an additional 98,106 shares during the period. Marshall Wace LLP’s holdings in Unum Group were worth $21,048,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Unum Group during the fourth quarter worth $247,000. Chicago Partners Investment Group LLC increased its position in shares of Unum Group by 7.3% in the first quarter. Chicago Partners Investment Group LLC now owns 5,780 shares of the financial services provider’s stock valued at $465,000 after buying an additional 395 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Unum Group by 196.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider’s stock worth $39,000 after buying an additional 317 shares during the last quarter. Townsquare Capital LLC boosted its position in shares of Unum Group by 89.2% in the 1st quarter. Townsquare Capital LLC now owns 24,781 shares of the financial services provider’s stock worth $2,019,000 after buying an additional 11,681 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Unum Group in the 1st quarter valued at about $646,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Stock Performance

Shares of UNM opened at $72.78 on Tuesday. Unum Group has a 1 year low of $66.81 and a 1 year high of $84.48. The company’s 50 day simple moving average is $76.10 and its 200 day simple moving average is $76.28. The company has a market capitalization of $12.18 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 1.45 and a beta of 0.20. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.36 and a current ratio of 0.36.

Unum Group (NYSE:UNM) last released its earnings results on Monday, November 3rd. The financial services provider reported $2.09 EPS for the quarter, missing the consensus estimate of $2.15 by ($0.06). The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations 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 was up 5.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.13 earnings per share. On average, sell-side analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, October 24th. Unum Group’s dividend payout ratio is presently 35.87%.

Unum Group declared that its Board of Directors has approved a stock repurchase program on Thursday, December 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

UNM has been the subject of a number of research reports. Wolfe Research upgraded shares of Unum Group to a “strong-buy” rating in a research report on Tuesday, September 16th. Wells Fargo & Company cut their price objective on Unum Group from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Wednesday, October 8th. Evercore ISI upped their target price on Unum Group from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Barclays increased their target price on Unum Group from $92.00 to $95.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Unum Group in a report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Unum Group presently has a consensus rating of “Moderate Buy” and an average target price of $94.67.

Insider Activity

In other news, EVP Christopher W. Pyne sold 4,000 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $78.04, for a total transaction of $312,160.00. Following the transaction, the executive vice president directly owned 51,372 shares in the company, valued at $4,009,070.88. This represents a 7.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven Andrew Zabel sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was 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 $8,692,578.66. This represents a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.93% of the company’s stock.

Unum Group 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.