AMP Capital Investors Ltd Grows Holdings in Unum Group (UNM)

AMP Capital Investors Ltd grew its position in shares of Unum Group (NYSE:UNM) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 218,921 shares of the financial services provider’s stock after purchasing an additional 4,029 shares during the period. AMP Capital Investors Ltd owned approximately 0.10% of Unum Group worth $8,096,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Flinton Capital Management LLC raised its stake in shares of Unum Group by 57.4% in the second quarter. Flinton Capital Management LLC now owns 192,948 shares of the financial services provider’s stock valued at $7,137,000 after acquiring an additional 70,336 shares in the last quarter. Twin Capital Management Inc. raised its stake in shares of Unum Group by 57.5% in the second quarter. Twin Capital Management Inc. now owns 47,591 shares of the financial services provider’s stock valued at $1,760,000 after acquiring an additional 17,381 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in shares of Unum Group by 57.4% in the second quarter. Glen Harbor Capital Management LLC now owns 110,256 shares of the financial services provider’s stock valued at $4,078,000 after acquiring an additional 40,192 shares in the last quarter. OppenheimerFunds Inc. raised its stake in shares of Unum Group by 19.4% in the second quarter. OppenheimerFunds Inc. now owns 34,690 shares of the financial services provider’s stock valued at $1,283,000 after acquiring an additional 5,632 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund acquired a new stake in shares of Unum Group in the second quarter valued at $2,248,000. Institutional investors own 91.17% of the company’s stock.

UNM has been the topic of several analyst reports. Zacks Investment Research cut Unum Group from a “hold” rating to a “sell” rating in a research note on Monday, June 4th. ValuEngine cut Unum Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Barclays dropped their target price on Unum Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Wells Fargo & Co set a $53.00 target price on Unum Group and gave the company a “hold” rating in a report on Thursday, May 24th. Finally, Citigroup set a $44.00 target price on Unum Group and gave the company a “hold” rating in a report on Tuesday, June 12th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.31.

In related news, EVP Breege A. Farrell sold 7,500 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $40.66, for a total value of $304,950.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.40% of the company’s stock.

NYSE:UNM opened at $36.05 on Friday. The firm has a market capitalization of $7.84 billion, a P/E ratio of 8.40, a price-to-earnings-growth ratio of 0.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.18 and a current ratio of 0.18. Unum Group has a 12 month low of $34.57 and a 12 month high of $58.73.

Unum Group (NYSE:UNM) last posted its earnings results on Monday, July 30th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.27 by $0.03. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.90 billion. Unum Group had a return on equity of 11.19% and a net margin of 9.42%. Unum Group’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 earnings per share. analysts predict that Unum Group will post 5.1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Monday, July 30th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.88%. The ex-dividend date was Friday, July 27th. This is a positive change from Unum Group’s previous quarterly dividend of $0.23. Unum Group’s dividend payout ratio is 24.24%.

Unum Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 24th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 8.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Unum Group Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.

Further Reading: Book Value Per Share – BVPS

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Institutional Ownership by Quarter for Unum Group (NYSE:UNM)

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