The New York State Common Retirement Fund Reduces Stake in Unum Group (UNM)

The New York State Common Retirement Fund Reduces Stake in Unum Group (UNM)

New York State Common Retirement Fund cut its position in Unum Group (NYSE:UNM) by 12.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 783,760 shares of the company’s stock after selling 109,800 shares during the period. New York State Common Retirement Fund’s holdings in Unum Group were worth $27,675,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. increased its position in shares of Unum Group by 100.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,876 shares of the company’s stock worth $123,000 after buying an additional 1,945 shares during the last quarter. Johnson Financial Group Inc. increased its position in shares of Unum Group by 514.2% in the second quarter. Johnson Financial Group Inc. now owns 3,906 shares of the company’s stock worth $124,000 after buying an additional 3,270 shares during the last quarter. Bellwether Investment Group LLC acquired a new position in shares of Unum Group during the second quarter worth about $133,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of Unum Group during the second quarter worth about $134,000. Finally, Pacer Advisors Inc. increased its position in shares of Unum Group by 9.8% in the second quarter. Pacer Advisors Inc. now owns 4,288 shares of the company’s stock worth $136,000 after buying an additional 384 shares during the last quarter. 92.43% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group (NYSE:UNM) traded down 0.16% on Friday, reaching $44.46. The company had a trading volume of 235,275 shares. Unum Group has a 1-year low of $23.99 and a 1-year high of $45.01. The stock’s 50 day moving average is $42.03 and its 200-day moving average is $36.23. The stock has a market capitalization of $10.32 billion, a P/E ratio of 11.67 and a beta of 1.56.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.04. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.74 billion. Unum Group had a return on equity of 10.24% and a net margin of 8.29%. The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.83 earnings per share. On average, equities analysts predict that Unum Group will post $3.90 EPS for the current fiscal year.

A number of research firms have weighed in on UNM. Zacks Investment Research downgraded Unum Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 15th. Credit Suisse Group AG began coverage on Unum Group in a report on Friday, October 7th. They issued a “neutral” rating and a $42.00 target price on the stock. Goldman Sachs Group Inc. increased their target price on Unum Group from $30.00 to $33.00 and gave the company a “sell” rating in a report on Friday, September 23rd. Royal Bank Of Canada increased their target price on Unum Group from $36.00 to $43.00 and gave the company an “outperform” rating in a report on Tuesday, November 15th. Finally, Compass Point downgraded Unum Group from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a report on Monday, November 28th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Unum Group presently has a consensus rating of “Hold” and a consensus target price of $38.77.

In other news, CFO John F. Mcgarry sold 12,000 shares of the stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $41.44, for a total value of $497,280.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas R. Watjen sold 178,927 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.56, for a total value of $6,362,644.12. The disclosure for this sale can be found here. 0.62% of the stock is owned by insiders.

About Unum Group

Unum Group is a provider of disability insurance products in the United States and the United Kingdom. The Company provides a portfolio of other insurance products, including employer and employee paid group benefits, life insurance and other related services. Its segments are Unum US, Unum UK, Colonial Life, Closed Block and Corporate.

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