Franklin Resources Inc. Raises Position in Unum Group (NYSE:UNM)

Franklin Resources Inc. boosted its position in shares of Unum Group (NYSE:UNM) by 30.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 610,529 shares of the financial services provider’s stock after buying an additional 141,187 shares during the period. Franklin Resources Inc. owned 0.33% of Unum Group worth $44,587,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Benjamin Edwards Inc. acquired a new position in Unum Group in the 3rd quarter valued at $608,000. Centiva Capital LP raised its position in shares of Unum Group by 79.5% in the third quarter. Centiva Capital LP now owns 8,290 shares of the financial services provider’s stock valued at $493,000 after buying an additional 3,671 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Unum Group by 3.9% in the third quarter. HighTower Advisors LLC now owns 80,891 shares of the financial services provider’s stock worth $4,811,000 after buying an additional 3,030 shares in the last quarter. Janus Henderson Group PLC boosted its position in Unum Group by 9.2% during the third quarter. Janus Henderson Group PLC now owns 134,134 shares of the financial services provider’s stock worth $7,972,000 after acquiring an additional 11,331 shares during the last quarter. Finally, IHT Wealth Management LLC grew its stake in Unum Group by 4.8% during the 3rd quarter. IHT Wealth Management LLC now owns 5,906 shares of the financial services provider’s stock valued at $351,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lisa G. Iglesias sold 7,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $82.75, for a total value of $579,250.00. Following the completion of the transaction, the executive vice president now owns 31,284 shares in the company, valued at $2,588,751. The trade was a 18.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now directly owns 980,637 shares in the company, valued at approximately $80,402,427.63. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Unum Group Stock Down 10.2 %

NYSE:UNM opened at $71.14 on Friday. Unum Group has a 52 week low of $48.38 and a 52 week high of $84.48. The stock’s fifty day moving average is $78.19 and its two-hundred day moving average is $72.06. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 7.51, a price-to-earnings-growth ratio of 1.14 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a return on equity of 14.91% and a net margin of 13.81%. Research analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group declared that its board has approved a stock repurchase plan on Tuesday, February 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is currently 17.74%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UNM. Raymond James upgraded Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 target price on the stock in a report on Wednesday, March 5th. BMO Capital Markets lifted their price objective on Unum Group from $95.00 to $102.00 and gave the stock an “outperform” rating in a research report on Monday, March 3rd. Morgan Stanley upped their target price on Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price target on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Finally, UBS Group upped their price objective on shares of Unum Group from $75.00 to $91.00 and gave the company a “neutral” rating in a report on Wednesday. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Unum Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.86.

Unum Group Company 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.