State of Alaska Department of Revenue Raises Stock Position in Unum Group $UNM

State of Alaska Department of Revenue grew its stake in shares of Unum Group (NYSE:UNM) by 53.5% in the third quarter, Holdings Channel.com reports. The fund owned 69,128 shares of the financial services provider’s stock after purchasing an additional 24,101 shares during the period. State of Alaska Department of Revenue’s holdings in Unum Group were worth $5,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of UNM. Brighton Jones LLC acquired a new position in Unum Group during the fourth quarter worth $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Unum Group by 12.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,580 shares of the financial services provider’s stock worth $3,061,000 after buying an additional 4,233 shares during the last quarter. Great Lakes Advisors LLC boosted its position in shares of Unum Group by 22.9% in the 1st quarter. Great Lakes Advisors LLC now owns 6,331 shares of the financial services provider’s stock worth $516,000 after buying an additional 1,181 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Unum Group by 12.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 746,267 shares of the financial services provider’s stock valued at $60,791,000 after acquiring an additional 83,069 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Unum Group by 15.8% during the first quarter. Geneos Wealth Management Inc. now owns 3,500 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 477 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Price Performance

UNM stock opened at $80.29 on Friday. The stock has a market capitalization of $13.44 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.43 and a beta of 0.20. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. Unum Group has a 52-week low of $66.81 and a 52-week high of $84.48. The stock’s fifty day simple moving average is $76.91 and its 200-day simple moving average is $75.98.

Unum Group (NYSE:UNM) last released its 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). Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the company posted $2.13 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts expect that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its board has approved a share repurchase program on Thursday, December 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI increased their price target on shares of Unum Group from $96.00 to $99.00 and gave the company an “outperform” rating in a research report on Wednesday, November 5th. Citigroup reiterated a “market perform” rating on shares of Unum Group in a report on Thursday, December 18th. Wolfe Research raised Unum Group to a “strong-buy” rating in a report on Tuesday, September 16th. Barclays reaffirmed an “overweight” rating on shares of Unum Group in a research note on Thursday. Finally, Morgan Stanley set a $85.00 target price on shares of Unum Group in a research note on Monday, December 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and an average price target of $96.58.

Insider Transactions at Unum Group

In related news, EVP Steven Andrew Zabel sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $76.38, for a total value of $572,850.00. Following the sale, the executive vice president directly owned 113,807 shares of the company’s stock, valued at approximately $8,692,578.66. This trade represents a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christopher W. Pyne sold 4,000 shares of the business’s stock in a transaction that occurred on 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 owned 51,372 shares of the company’s stock, valued at approximately $4,009,070.88. The trade was a 7.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,400 shares of company stock worth $951,160 in the last three months. Company insiders own 0.92% of the company’s stock.

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.