Unum Group (NYSE:UNM) Director Sells $1,030,957.90 in Stock

Unum Group (NYSE:UNM) Director Hanley Ronald P. O sold 14,299 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $72.10, for a total transaction of $1,030,957.90. Following the sale, the director now directly owns 38,819 shares of the company’s stock, valued at $2,798,849.90. The trade was a 26.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Unum Group Stock Up 1.3 %

UNM stock opened at $73.19 on Friday. Unum Group has a 52 week low of $41.86 and a 52 week high of $73.24. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $61.92 and a 200-day simple moving average of $55.92. The stock has a market capitalization of $13.37 billion, a P/E ratio of 7.92, a P/E/G ratio of 1.04 and a beta of 0.76.

Unum Group (NYSE:UNM) last posted its quarterly earnings data 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 firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company earned $1.94 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group announced that its board has initiated a share repurchase 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 a sign that the company’s board of directors believes its shares are undervalued.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were issued a $0.42 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.30%. Unum Group’s payout ratio is 18.18%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on UNM shares. UBS Group raised Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Citigroup increased their price objective on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Piper Sandler reissued an “overweight” rating and set a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Bank of America raised their price target on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Finally, Truist Financial boosted their price objective on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Institutional Investors Weigh In On Unum Group

Several hedge funds and other institutional investors have recently made changes to their positions in UNM. QRG Capital Management Inc. raised its holdings in shares of Unum Group by 3.1% during the 1st quarter. QRG Capital Management Inc. now owns 12,560 shares of the financial services provider’s stock worth $674,000 after acquiring an additional 375 shares during the period. Bleakley Financial Group LLC boosted its holdings in Unum Group by 5.3% in the 1st quarter. Bleakley Financial Group LLC now owns 5,645 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 283 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of Unum Group by 8.0% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 177,593 shares of the financial services provider’s stock worth $9,530,000 after buying an additional 13,171 shares during the last quarter. M&G Plc purchased a new stake in shares of Unum Group during the 1st quarter valued at approximately $8,988,000. Finally, Councilmark Asset Management LLC acquired a new position in Unum Group in the first quarter valued at approximately $1,170,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

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.