First Trust Advisors LP lifted its holdings in shares of Unum Group (NYSE:UNM) by 14.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 482,034 shares of the financial services provider’s stock after buying an additional 62,569 shares during the period. First Trust Advisors LP owned approximately 0.22% of Unum Group worth $17,830,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in UNM. Bank of Montreal Can acquired a new stake in shares of Unum Group during the second quarter worth about $152,694,000. Hexavest Inc. acquired a new stake in shares of Unum Group during the second quarter worth about $32,895,000. Millennium Management LLC boosted its stake in shares of Unum Group by 90.9% during the first quarter. Millennium Management LLC now owns 1,550,354 shares of the financial services provider’s stock worth $73,812,000 after buying an additional 738,146 shares during the period. Lord Abbett & CO. LLC acquired a new stake in shares of Unum Group during the first quarter worth about $25,214,000. Finally, James Investment Research Inc. acquired a new stake in shares of Unum Group during the second quarter worth about $18,046,000. Institutional investors and hedge funds own 92.38% of the company’s stock.
In other Unum Group news, EVP Breege A. Farrell sold 7,500 shares of the stock in a transaction dated Tuesday, July 31st. The shares were sold at an average price of $40.66, for a total value of $304,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.40% of the company’s stock.
NYSE UNM opened at $36.00 on Friday. The stock has a market cap of $7.69 billion, a P/E ratio of 8.39, a PEG ratio of 0.77 and a beta of 1.44. Unum Group has a 52-week low of $34.57 and a 52-week high of $58.73. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.18 and a quick ratio of 0.18.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Monday, July 30th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Unum Group had a net margin of 9.42% and a return on equity of 11.19%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. sell-side analysts predict that Unum Group will post 5.1 EPS for the current fiscal year.
Unum Group declared that its Board of Directors has initiated a share buyback plan on Thursday, May 24th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, July 30th were issued a $0.26 dividend. The ex-dividend date was Friday, July 27th. This is a boost from Unum Group’s previous quarterly dividend of $0.23. This represents a $1.04 dividend on an annualized basis and a yield of 2.89%. Unum Group’s dividend payout ratio (DPR) is 24.24%.
Several brokerages have recently weighed in on UNM. Wells Fargo & Co reiterated a “hold” rating and set a $53.00 target price on shares of Unum Group in a research note on Wednesday, May 2nd. Morgan Stanley decreased their target price on shares of Unum Group from $60.00 to $59.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 2nd. Royal Bank of Canada decreased their target price on shares of Unum Group to $44.00 and set a “sector perform” rating for the company in a research note on Thursday, May 3rd. They noted that the move was a valuation call. ValuEngine cut shares of Unum Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, Deutsche Bank cut their price target on shares of Unum Group from $58.00 to $53.00 and set a “hold” rating for the company in a report on Thursday, May 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.31.
Unum Group Profile
Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.
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