Burney Co. Lowers Stock Holdings in Unum Group $UNM

Burney Co. cut its holdings in Unum Group (NYSE:UNM) by 9.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,545 shares of the financial services provider’s stock after selling 8,040 shares during the quarter. Burney Co.’s holdings in Unum Group were worth $5,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. HBK Sorce Advisory LLC acquired a new position in Unum Group during the third quarter worth $298,000. Polianta Ltd acquired a new stake in Unum Group in the 3rd quarter worth about $1,547,000. CWM LLC increased its stake in Unum Group by 196.9% during the 3rd quarter. CWM LLC now owns 42,878 shares of the financial services provider’s stock worth $3,335,000 after buying an additional 28,436 shares in the last quarter. Pacer Advisors Inc. increased its stake in Unum Group by 216.6% during the 3rd quarter. Pacer Advisors Inc. now owns 29,933 shares of the financial services provider’s stock worth $2,328,000 after buying an additional 20,478 shares in the last quarter. Finally, Swedbank AB acquired a new position in shares of Unum Group during the third quarter valued at approximately $14,644,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Price Performance

Unum Group stock opened at $78.84 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average price of $76.27 and a 200 day moving average price of $76.00. Unum Group has a 12-month low of $66.81 and a 12-month high of $84.48. The stock has a market cap of $13.19 billion, a P/E ratio of 15.37, a PEG ratio of 1.55 and a beta of 0.20.

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 firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Unum Group had a net margin of 6.99% and a return on equity of 13.09%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $2.13 EPS. Sell-side analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

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

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, October 24th. Unum Group’s payout ratio is 35.87%.

Insiders Place Their Bets

In other Unum Group news, EVP Christopher W. Pyne sold 4,000 shares of Unum Group 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 completion of the sale, the executive vice president directly owned 51,372 shares in the company, valued at $4,009,070.88. This trade represents a 7.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 900 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $73.50, for a total transaction of $66,150.00. Following the completion of the sale, the chief accounting officer directly owned 8,940 shares in the company, valued at $657,090. This trade represents a 9.15% 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 over the last 90 days. 0.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UNM shares. Citigroup reaffirmed a “market perform” rating on shares of Unum Group in a research note on Thursday, December 18th. Evercore ISI raised their price target on shares of Unum Group from $96.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Wells Fargo & Company dropped their price objective on shares of Unum Group from $100.00 to $98.00 and set an “overweight” rating for the company in a research note on Wednesday, October 8th. JPMorgan Chase & Co. cut their price objective on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Finally, Morgan Stanley set a $85.00 target price on shares of Unum Group in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.91.

Unum Group Company Profile

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.