Cubist Systematic Strategies LLC Has $5.74 Million Position in Unum Group (UNM)
Cubist Systematic Strategies LLC boosted its holdings in Unum Group (NYSE:UNM) by 106.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,450 shares of the financial services provider’s stock after purchasing an additional 62,114 shares during the period. Cubist Systematic Strategies LLC owned about 0.05% of Unum Group worth $5,735,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Pinebridge Investments L.P. grew its position in Unum Group by 160.9% in the fourth quarter. Pinebridge Investments L.P. now owns 2,930 shares of the financial services provider’s stock valued at $161,000 after purchasing an additional 1,807 shares in the last quarter. First City Capital Management Inc. bought a new position in Unum Group in the fourth quarter valued at $207,000. Gotham Asset Management LLC bought a new position in Unum Group in the fourth quarter valued at $218,000. Scotia Capital Inc. bought a new position in Unum Group in the fourth quarter valued at $221,000. Finally, Sciencast Management LP bought a new position in Unum Group in the fourth quarter valued at $245,000. 91.82% of the stock is owned by institutional investors and hedge funds.
Unum Group opened at $39.13 on Wednesday, according to Marketbeat. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.29. The stock has a market cap of $8.70 billion, a PE ratio of 9.12, a P/E/G ratio of 1.10 and a beta of 1.40. Unum Group has a 52-week low of $36.91 and a 52-week high of $58.73.
The business also recently announced a quarterly dividend, which was paid on Friday, May 18th. Stockholders of record on Monday, April 30th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date of this dividend was Friday, April 27th. Unum Group’s dividend payout ratio is presently 21.45%.
Unum Group announced that its board has initiated a share repurchase program on Thursday, May 24th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
UNM has been the subject of a number of analyst reports. B. Riley raised shares of Unum Group from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, February 13th. SunTrust Banks decreased their price objective on shares of Unum Group to $62.00 and set a “buy” rating for the company in a research report on Thursday, April 12th. Zacks Investment Research raised shares of Unum Group from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Friday, April 6th. Morgan Stanley decreased their price objective on shares of Unum Group from $60.00 to $59.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 2nd. Finally, Wells Fargo & Co reissued a “hold” rating and issued a $53.00 price objective on shares of Unum Group in a research report on Wednesday, May 2nd. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Unum Group has a consensus rating of “Hold” and an average target price of $53.46.
In other news, EVP Michael Q. Simonds sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $48.94, for a total transaction of $244,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.40% of the company’s stock.
About Unum Group
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.
Receive News & Ratings for Unum Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unum Group and related companies with MarketBeat.com's FREE daily email newsletter.