State Board of Administration of Florida Retirement System Sells 4,385 Shares of Unum Group (NYSE:UNM)

State Board of Administration of Florida Retirement System decreased its position in Unum Group (NYSE:UNM) by 1.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 224,186 shares of the financial services provider’s stock after selling 4,385 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Unum Group were worth $5,618,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clearstead Advisors LLC bought a new stake in Unum Group in the 2nd quarter valued at approximately $27,000. Founders Capital Management lifted its stake in Unum Group by 53.5% in the 3rd quarter. Founders Capital Management now owns 1,758 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 613 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its stake in Unum Group by 33.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 1,967 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 495 shares in the last quarter. West Branch Capital LLC acquired a new position in shares of Unum Group during the 2nd quarter worth approximately $77,000. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Unum Group during the 3rd quarter worth approximately $111,000. Hedge funds and other institutional investors own 83.09% of the company’s stock.

UNM stock opened at $28.10 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $5.75 billion, a PE ratio of 7.21, a PEG ratio of 0.68 and a beta of 1.67. Unum Group has a 1-year low of $22.25 and a 1-year high of $31.98. The business’s 50 day simple moving average is $25.11 and its 200 day simple moving average is $26.15.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, November 2nd. The financial services provider reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.13). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.96 billion. Unum Group had a return on equity of 8.68% and a net margin of 6.01%. During the same period in the previous year, the firm posted $1.21 earnings per share. As a group, sell-side analysts predict that Unum Group will post 4.3 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 18th. Investors of record on Friday, January 28th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.27%. Unum Group’s payout ratio is presently 30.77%.

Unum Group declared that its board has authorized a share repurchase program on Monday, October 25th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 4.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Several research analysts have weighed in on UNM shares. Barclays lowered their price target on Unum Group from $28.00 to $25.00 and set an “underweight” rating on the stock in a research report on Tuesday. The Goldman Sachs Group started coverage on Unum Group in a research report on Thursday, December 2nd. They set a “buy” rating and a $32.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Unum Group currently has an average rating of “Hold” and an average target price of $29.00.

Unum Group Company Profile

Unum Group is engaged in providing financial protection benefits. It operates through the following segments: Unum US, Unum International, Colonial Life, Closed Block and Corporate. The Unum US segment comprises of group long-term and short-term disability insurance, group life and accidental death and dismemberment products, and supplemental and voluntary lines of business.

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Institutional Ownership by Quarter for Unum Group (NYSE:UNM)

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