Glenmede Trust Co. NA Reduces Stake in Unum Group (NYSE:UNM)

Glenmede Trust Co. NA lowered its stake in shares of Unum Group (NYSE:UNM) by 35.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,918 shares of the financial services provider’s stock after selling 94,323 shares during the period. Glenmede Trust Co. NA owned 0.09% of Unum Group worth $10,278,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of UNM. Wedge Capital Management L L P NC increased its position in 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 last quarter. Cetera Advisors LLC bought a new stake in Unum Group in the 1st quarter valued at about $703,000. Van ECK Associates Corp purchased a new stake in Unum Group during the second quarter valued at about $3,945,000. My Legacy Advisors LLC bought a new position in Unum Group during the second quarter worth about $473,000. Finally, CoreCap Advisors LLC purchased a new position in shares of Unum Group in the second quarter worth about $2,007,000. Institutional investors own 86.57% of the company’s stock.

Unum Group Stock Down 0.2 %

Shares of NYSE UNM opened at $76.90 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The business has a 50-day moving average of $65.87 and a 200-day moving average of $57.49. The firm has a market capitalization of $14.04 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.10 and a beta of 0.76. Unum Group has a 12 month low of $42.09 and a 12 month high of $77.63.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS 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 analysts’ expectations 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 in the previous year, the company earned $1.94 EPS. Sell-side analysts expect 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. Shareholders of record on Friday, October 25th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend was Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is currently 18.18%.

Insider Transactions at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 58,741 shares in the company, valued at $3,768,822.56. The trade was a 7.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total transaction of $104,340.00. Following the transaction, the chief accounting officer now owns 8,361 shares in the company, valued at $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 165,709 shares of company stock worth $10,956,914. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

UNM has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. UBS Group upgraded Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $67.00 to $84.00 in a research note on Thursday, November 14th. Barclays raised their target price on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price target on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

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.