California State Teachers Retirement System Cuts Stock Holdings in Unum Group (NYSE:UNM)

California State Teachers Retirement System lessened its position in Unum Group (NYSE:UNMFree Report) by 9.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 220,209 shares of the financial services provider’s stock after selling 21,937 shares during the quarter. California State Teachers Retirement System owned about 0.11% of Unum Group worth $10,832,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Unum Group in the fourth quarter valued at about $426,463,000. Royal Bank of Canada increased its holdings in shares of Unum Group by 401.2% during the 2nd quarter. Royal Bank of Canada now owns 1,639,336 shares of the financial services provider’s stock worth $78,196,000 after buying an additional 1,312,286 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Unum Group by 63.6% during the 4th quarter. AQR Capital Management LLC now owns 2,504,307 shares of the financial services provider’s stock valued at $102,752,000 after buying an additional 973,311 shares during the period. Balyasny Asset Management L.P. acquired a new position in Unum Group in the first quarter valued at approximately $34,014,000. Finally, BlackRock Inc. grew its position in Unum Group by 3.7% in the first quarter. BlackRock Inc. now owns 23,681,485 shares of the financial services provider’s stock worth $746,204,000 after acquiring an additional 836,407 shares during the period. 79.37% of the stock is owned by institutional investors and hedge funds.

Unum Group Price Performance

UNM stock opened at $49.63 on Tuesday. The company has a market cap of $9.50 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 0.75 and a beta of 0.86. Unum Group has a 12-month low of $36.27 and a 12-month high of $52.15. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $47.18 and a two-hundred day moving average price of $46.87.

Unum Group (NYSE:UNMGet Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.86 by ($0.07). The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.14 billion. Unum Group had a net margin of 10.36% and a return on equity of 16.03%. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. As a group, research analysts predict that Unum Group will post 8.19 EPS for the current year.

Unum Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Friday, January 26th were issued a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date was Thursday, January 25th. Unum Group’s dividend payout ratio is presently 22.50%.

Wall Street Analysts Forecast Growth

UNM has been the topic of a number of research analyst reports. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised Unum Group from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research report on Wednesday, January 3rd. Morgan Stanley reduced their price target on shares of Unum Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 15th. The Goldman Sachs Group lifted their price objective on shares of Unum Group from $47.00 to $52.00 and gave the company a “neutral” rating in a report on Wednesday, January 31st. Finally, Wells Fargo & Company raised their price target on shares of Unum Group from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $55.44.

View Our Latest Stock Report on Unum Group

Insider Transactions at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $50.00, for a total transaction of $250,000.00. Following the completion of the transaction, the executive vice president now directly owns 55,450 shares in the company, valued at approximately $2,772,500. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.77% of the company’s stock.

Unum Group Company Profile

(Free Report)

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 and Corporate 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.

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

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