Jane Street Group LLC Invests $525,000 in Unum Group (UNM)
Jane Street Group LLC bought a new position in shares of Unum Group (NYSE:UNM) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 11,025 shares of the financial services provider’s stock, valued at approximately $525,000.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Unum Group by 1.6% in the 1st quarter. BlackRock Inc. now owns 16,998,343 shares of the financial services provider’s stock valued at $809,291,000 after buying an additional 262,169 shares in the last quarter. LSV Asset Management lifted its stake in Unum Group by 3.4% in the 1st quarter. LSV Asset Management now owns 5,307,845 shares of the financial services provider’s stock valued at $252,706,000 after buying an additional 175,429 shares in the last quarter. Geode Capital Management LLC lifted its stake in Unum Group by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,514,687 shares of the financial services provider’s stock valued at $137,746,000 after buying an additional 85,020 shares in the last quarter. AGF Investments Inc. lifted its stake in Unum Group by 1.5% in the 1st quarter. AGF Investments Inc. now owns 1,273,565 shares of the financial services provider’s stock valued at $60,634,000 after buying an additional 19,206 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Unum Group by 4.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,138,330 shares of the financial services provider’s stock valued at $54,196,000 after buying an additional 43,904 shares in the last quarter. 91.80% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on UNM. Deutsche Bank decreased their price target on shares of Unum Group from $58.00 to $53.00 and set a “hold” rating on the stock in a research note on Thursday, May 3rd. ValuEngine lowered shares of Unum Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Wells Fargo & Co reissued a “hold” rating and issued a $53.00 target price on shares of Unum Group in a research note on Wednesday, May 2nd. Zacks Investment Research raised shares of Unum Group from a “sell” rating to a “hold” rating in a research note on Monday. Finally, SunTrust Banks decreased their target price on shares of Unum Group to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 12th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.46.
Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, May 1st. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.25 by ($0.01). The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.89 billion. Unum Group had a return on equity of 10.73% and a net margin of 9.12%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.02 EPS. sell-side analysts forecast that Unum Group will post 5.1 EPS for the current fiscal year.
Unum Group announced that its Board of Directors has initiated a share 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 stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Michael Q. Simonds sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $48.94, for a total transaction of $244,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by company insiders.
Unum Group 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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