CIBC Asset Management Inc Has $330,000 Stock Holdings in Unum Group (NYSE:UNM)

CIBC Asset Management Inc grew its position in shares of Unum Group (NYSE:UNM) by 3.4% during the third quarter, HoldingsChannel.com reports. The firm owned 5,551 shares of the financial services provider’s stock after purchasing an additional 180 shares during the period. CIBC Asset Management Inc’s holdings in Unum Group were worth $330,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in UNM. Versant Capital Management Inc lifted its stake in shares of Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Unum Group in the second quarter worth approximately $26,000. 1620 Investment Advisors Inc. acquired a new position in shares of Unum Group in the second quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new position in Unum Group in the third quarter valued at approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Unum Group in the third quarter valued at approximately $37,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total value of $320,800.00. Following the completion of the transaction, the executive vice president now owns 58,741 shares in the company, valued at $3,768,822.56. This trade represents a 7.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,844 shares of company stock worth $5,411,032 in the last ninety days. 0.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on UNM shares. Bank of America boosted their price target on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. UBS Group raised Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $67.00 to $84.00 in a report on Thursday, November 14th. JPMorgan Chase & Co. decreased their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Finally, Truist Financial boosted their price objective on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and an average price target of $67.73.

Unum Group Price Performance

Shares of Unum Group stock opened at $75.63 on Friday. The stock has a 50 day moving average of $63.02 and a 200 day moving average of $56.36. Unum Group has a 12 month low of $41.97 and a 12 month high of $75.93. The firm has a market cap of $13.81 billion, a PE ratio of 8.19, a PEG ratio of 1.06 and a beta of 0.76. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business posted $1.94 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, research analysts expect that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group declared that its board has approved a share repurchase plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.22%. Unum Group’s payout ratio is currently 18.18%.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. 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.