Fifth Third Wealth Advisors LLC decreased its holdings in Unum Group (NYSE:UNM – Free Report) by 23.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,684 shares of the financial services provider’s stock after selling 1,696 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Unum Group were worth $338,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Unum Group during the 2nd quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in shares of Unum Group in the 3rd quarter worth $31,000. 1620 Investment Advisors Inc. acquired a new position in Unum Group in the second quarter valued at $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Unum Group during the third quarter valued at about $37,000. Institutional investors and hedge funds own 86.57% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently weighed in on UNM. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 price objective (up from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Wells Fargo & Company boosted their price objective on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. UBS Group raised shares of Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Bank of America lifted their target price on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays increased their price target on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.
Get Our Latest Stock Report on UNM
Insider Activity
In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the transaction, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. This trade represents a 15.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,844 shares of company stock worth $5,411,032. 0.93% of the stock is currently owned by corporate insiders.
Unum Group Trading Up 4.1 %
NYSE:UNM opened at $75.63 on Friday. Unum Group has a one year low of $41.97 and a one year high of $75.93. The business’s 50-day simple moving average is $63.02 and its 200 day simple moving average is $56.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 8.19, a price-to-earnings-growth ratio of 1.06 and a beta of 0.76.
Unum Group (NYSE:UNM – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.94 earnings per share. As a group, sell-side analysts predict that Unum Group will post 8.53 earnings per share for the current fiscal year.
Unum Group declared that its Board of Directors has approved a share buyback plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
Unum Group Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.22%. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.
Unum Group Profile
(Free Report)
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.
See Also
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