Convergence Investment Partners LLC Sells 3,817 Shares of Unum Group (NYSE:UNM)

Convergence Investment Partners LLC trimmed its stake in Unum Group (NYSE:UNM) by 14.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,837 shares of the financial services provider’s stock after selling 3,817 shares during the period. Convergence Investment Partners LLC’s holdings in Unum Group were worth $1,033,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Silver Oak Securities Incorporated purchased a new position in shares of Unum Group in the 3rd quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new stake in Unum Group during the 4th quarter worth about $25,000. Bangor Savings Bank lifted its position in Unum Group by 100.0% during the 3rd quarter. Bangor Savings Bank now owns 664 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 332 shares during the period. Neo Ivy Capital Management acquired a new stake in Unum Group during the 3rd quarter worth about $36,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Unum Group during the 4th quarter worth about $36,000. 86.57% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group lifted their price target on Unum Group from $47.00 to $52.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley boosted their price objective on Unum Group from $50.00 to $52.00 and gave the company an “equal weight” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on Unum Group from $56.00 to $58.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company boosted their price objective on Unum Group from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.38.

Unum Group Trading Down 1.2 %

UNM stock traded down $0.61 during midday trading on Friday, hitting $50.75. The stock had a trading volume of 1,016,680 shares, compared to its average volume of 1,050,215. The firm has a market cap of $9.74 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 1.02 and a beta of 0.87. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.27 and a quick ratio of 0.27. Unum Group has a 12-month low of $40.04 and a 12-month high of $54.57. The company’s 50-day moving average price is $51.34 and its 200 day moving average price is $47.67.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, January 30th. The financial services provider reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.07). Unum Group had a net margin of 10.36% and a return on equity of 16.03%. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.14 billion. During the same quarter last year, the business earned $1.43 EPS. Unum Group’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, equities research analysts predict that Unum Group will post 8.18 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, April 26th will be issued a $0.365 dividend. This represents a $1.46 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, April 25th. Unum Group’s payout ratio is 22.50%.

Insider Activity

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the completion of the sale, the executive vice president now owns 55,450 shares of the company’s stock, valued at $2,772,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Richard P. Mckenney sold 50,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the sale, the chief executive officer now owns 1,076,753 shares of the company’s stock, valued at approximately $52,922,409.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $50.00, for a total value of $250,000.00. Following the sale, the executive vice president now directly owns 55,450 shares in the company, valued at approximately $2,772,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,000 shares of company stock worth $4,018,100. 0.93% of the stock is owned by corporate insiders.

About Unum Group

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.