Flinton Capital Management LLC Has $5.84 Million Stake in Unum (UNM)
Flinton Capital Management LLC lifted its stake in Unum (NYSE:UNM) by 60.1% in the first quarter, HoldingsChannel.com reports. The fund owned 122,612 shares of the financial services provider’s stock after purchasing an additional 46,004 shares during the period. Flinton Capital Management LLC’s holdings in Unum were worth $5,837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently bought and sold shares of UNM. Investec Asset Management LTD boosted its holdings in shares of Unum by 128.2% in the fourth quarter. Investec Asset Management LTD now owns 4,316,708 shares of the financial services provider’s stock worth $236,944,000 after acquiring an additional 2,425,302 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Unum by 44.7% in the fourth quarter. APG Asset Management N.V. now owns 1,343,609 shares of the financial services provider’s stock worth $61,418,000 after acquiring an additional 415,200 shares during the period. Algebris UK Ltd bought a new position in shares of Unum in the first quarter worth $19,099,000. Allianz Asset Management GmbH boosted its holdings in shares of Unum by 39.0% in the fourth quarter. Allianz Asset Management GmbH now owns 1,209,637 shares of the financial services provider’s stock worth $66,397,000 after acquiring an additional 339,361 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Unum by 47.8% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,028,656 shares of the financial services provider’s stock worth $56,464,000 after acquiring an additional 332,496 shares during the period. 91.92% of the stock is owned by hedge funds and other institutional investors.
NYSE:UNM opened at $38.69 on Friday. The firm has a market cap of $8.52 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.46. Unum has a 52-week low of $37.57 and a 52-week high of $58.73. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.17 and a quick ratio of 0.17.
Unum announced that its Board of Directors has initiated a stock buyback program on Thursday, May 24th that permits the company to buyback $750.00 million in 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 usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Monday, April 30th were paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Friday, April 27th. Unum’s dividend payout ratio is 21.45%.
In other Unum news, SVP Daniel Jason Waxenberg sold 1,435 shares of Unum stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $52.36, for a total transaction of $75,136.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christopher J. Jerome sold 7,806 shares of Unum stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $50.90, for a total value of $397,325.40. The disclosure for this sale can be found here. Insiders have sold 14,241 shares of company stock valued at $717,162 in the last three months. 0.40% of the stock is owned by corporate insiders.
A number of equities analysts have recently commented on the company. Wells Fargo & Co reaffirmed a “hold” rating and issued a $53.00 price target on shares of Unum in a report on Wednesday, May 2nd. Royal Bank of Canada cut their price target on Unum to $44.00 and set a “sector perform” rating for the company in a report on Thursday, May 3rd. They noted that the move was a valuation call. Morgan Stanley cut their price target on Unum from $60.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, May 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $57.00 price target on shares of Unum in a report on Thursday, April 12th. Finally, ValuEngine lowered Unum from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $54.25.
Unum Company 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.
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