Glenmede Trust Co. NA Sells 94,323 Shares of Unum Group (NYSE:UNM)

Glenmede Trust Co. NA reduced its stake in Unum Group (NYSE:UNM) by 35.3% during the third quarter, Holdings Channel.com reports. The firm owned 172,918 shares of the financial services provider’s stock after selling 94,323 shares during the period. Glenmede Trust Co. NA’s holdings in Unum Group were worth $10,278,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in UNM. Wedge Capital Management L L P NC increased its stake in shares of Unum Group by 8.0% in the second 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 during the period. Cetera Advisors LLC purchased a new position in shares of Unum Group in the first quarter valued at about $703,000. Van ECK Associates Corp bought a new position in shares of Unum Group during the second quarter valued at about $3,945,000. My Legacy Advisors LLC purchased a new stake in shares of Unum Group during the second quarter worth about $473,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of Unum Group during the second quarter worth about $2,007,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley upped their price target on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. dropped their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company boosted 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. Barclays raised their target price on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their price target on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Unum Group Price Performance

Shares of UNM opened at $76.90 on Friday. Unum Group has a fifty-two week low of $42.09 and a fifty-two week high of $77.63. The firm’s 50-day simple moving average is $65.87 and its two-hundred day simple moving average is $57.49. The stock has a market cap of $14.04 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.10 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 (NYSE:UNM) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share 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 company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the company earned $1.94 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts anticipate that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Friday, October 25th. Unum Group’s payout ratio is 18.18%.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 5.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the sale, the chief accounting officer now owns 8,361 shares in the company, valued at approximately $581,591.16. This represents a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 165,709 shares of company stock valued at $10,956,914. 0.93% of the stock is 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.