Charles Schwab Investment Management Inc. increased its position in shares of Unum Group (NYSE:UNM – Free Report) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,500,508 shares of the financial services provider’s stock after acquiring an additional 55,014 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Unum Group were worth $326,950,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of UNM. ProShare Advisors LLC increased its stake in Unum Group by 89.8% during the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock worth $61,728,000 after purchasing an additional 571,436 shares during the period. Victory Capital Management Inc. increased its stake in Unum Group by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,186,262 shares of the financial services provider’s stock worth $70,511,000 after buying an additional 66,392 shares during the period. Wedge Capital Management L L P NC lifted its holdings in Unum Group by 8.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock worth $44,609,000 after buying an additional 64,661 shares in the last quarter. Sei Investments Co. boosted its position in Unum Group by 9.5% in the 2nd quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider’s stock valued at $21,127,000 after buying an additional 35,723 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Unum Group by 20.5% in the first quarter. Lazard Asset Management LLC now owns 411,467 shares of the financial services provider’s stock worth $22,078,000 after acquiring an additional 69,928 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
UNM has been the topic of several analyst reports. Truist Financial increased their price objective on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Morgan Stanley lifted their price objective on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America upped their target price on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. UBS Group upgraded shares of Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price objective on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.73.
Unum Group Stock Up 0.5 %
Unum Group stock opened at $75.83 on Friday. The stock has a 50-day simple moving average of $63.45 and a 200-day simple moving average of $56.49. The company has a market capitalization of $13.85 billion, a P/E ratio of 8.21, a PEG ratio of 1.11 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a fifty-two week low of $41.97 and a fifty-two week high of $76.31.
Unum Group (NYSE:UNM – Get Free Report) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.94 EPS. Equities research analysts expect that Unum Group will post 8.53 earnings per share for the current year.
Unum Group declared that its Board of Directors has authorized a share buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 10% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Unum Group Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. Unum Group’s dividend payout ratio (DPR) is 18.18%.
Insider Buying and Selling
In other Unum Group news, CEO Richard P. Mckenney sold 58,865 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $75.39, for a total value of $4,437,832.35. Following the transaction, the chief executive officer now directly owns 1,007,003 shares of the company’s stock, valued at approximately $75,917,956.17. The trade was a 5.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total transaction of $104,340.00. Following the completion of the sale, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. The trade was a 15.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,709 shares of company stock valued at $10,956,914 over the last quarter. 0.93% of the stock is currently owned by 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.
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