Unum Group (NYSE:UNM) Holdings Cut by Foster & Motley Inc.

Foster & Motley Inc. trimmed its position in shares of Unum Group (NYSE:UNM) by 1.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 114,516 shares of the financial services provider’s stock after selling 1,566 shares during the period. Foster & Motley Inc.’s holdings in Unum Group were worth $6,807,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its holdings in shares of Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after buying an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new position in Unum Group in the second quarter worth about $26,000. 1620 Investment Advisors Inc. acquired a new position in Unum Group in the second quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Unum Group during the 3rd quarter worth approximately $37,000. Finally, Innealta Capital LLC acquired a new stake in Unum Group in the 2nd quarter valued at $40,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Stock Performance

Shares of Unum Group stock opened at $68.49 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a 50 day simple moving average of $59.40 and a 200 day simple moving average of $54.85. Unum Group has a fifty-two week low of $41.86 and a fifty-two week high of $68.49. The firm has a market cap of $12.51 billion, a P/E ratio of 7.02, a P/E/G ratio of 0.94 and a beta of 0.76.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.26 billion. During the same period last year, the firm earned $1.94 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts predict that Unum Group will post 8.52 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.45%. Unum Group’s dividend payout ratio is currently 18.18%.

Insider Buying and Selling at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 5,000 shares of Unum Group stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $64.16, for a total transaction of $320,800.00. Following the completion of the sale, the executive vice president now owns 58,741 shares in the company, valued at $3,768,822.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction on Thursday, September 5th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,795 shares of company stock worth $4,589,269. Company insiders own 0.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on UNM. Citigroup lifted their price objective on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI lifted their price target on shares of Unum Group from $59.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Finally, Truist Financial boosted their target price on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Unum Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.09.

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.