CPC Advisors LLC Trims Holdings in Unum Group $UNM

CPC Advisors LLC reduced its position in shares of Unum Group (NYSE:UNM) by 26.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 55,571 shares of the financial services provider’s stock after selling 19,519 shares during the quarter. CPC Advisors LLC’s holdings in Unum Group were worth $4,322,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Unum Group during the second quarter worth approximately $1,113,353,000. Ensign Peak Advisors Inc boosted its holdings in shares of Unum Group by 762.9% during the second quarter. Ensign Peak Advisors Inc now owns 712,206 shares of the financial services provider’s stock worth $57,518,000 after purchasing an additional 629,665 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Unum Group in the second quarter valued at $27,601,000. Neuberger Berman Group LLC increased its stake in Unum Group by 66.4% in the second quarter. Neuberger Berman Group LLC now owns 760,765 shares of the financial services provider’s stock valued at $61,439,000 after purchasing an additional 303,500 shares during the last quarter. Finally, Lighthouse Investment Partners LLC lifted its position in Unum Group by 508.0% during the second quarter. Lighthouse Investment Partners LLC now owns 294,088 shares of the financial services provider’s stock worth $23,751,000 after buying an additional 245,718 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on UNM. Barclays restated an “overweight” rating on shares of Unum Group in a report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Evercore ISI increased their price target on shares of Unum Group from $96.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Jefferies Financial Group reissued a “buy” rating and set a $115.00 price objective on shares of Unum Group in a research note on Monday, January 5th. Finally, Morgan Stanley set a $85.00 target price on Unum Group in a research report on Monday, December 15th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $96.58.

Insider Transactions at Unum Group

In related news, EVP Christopher W. Pyne sold 4,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $78.04, for a total transaction of $312,160.00. Following the sale, the executive vice president directly owned 51,372 shares in the company, valued at approximately $4,009,070.88. This trade represents a 7.22% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Walter Lynn Rice, Jr. sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $73.50, for a total value of $66,150.00. Following the completion of the transaction, the chief accounting officer owned 8,940 shares of the company’s stock, valued at approximately $657,090. This represents a 9.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,400 shares of company stock valued at $951,160 over the last quarter. Company insiders own 0.93% of the company’s stock.

Unum Group Price Performance

UNM opened at $80.07 on Tuesday. Unum Group has a 52-week low of $66.81 and a 52-week high of $84.48. The company has a 50 day moving average of $77.05 and a two-hundred day moving average of $75.97. The company has a market cap of $13.40 billion, a P/E ratio of 15.61, a P/E/G ratio of 1.43 and a beta of 0.20. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share for the quarter, missing the consensus estimate of $2.15 by ($0.06). Unum Group had a net margin of 6.99% and a return on equity of 13.09%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the firm posted $2.13 EPS. The business’s revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its Board of Directors has authorized a stock repurchase plan on Thursday, December 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Unum Group

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.