Nomura Asset Management Co. Ltd. lifted its stake in shares of Unum Group (NYSE:UNM) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,750 shares of the financial services provider’s stock after purchasing an additional 2,300 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Unum Group were worth $1,433,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. AGF Investments Inc. grew its holdings in Unum Group by 1.5% in the 1st quarter. AGF Investments Inc. now owns 1,273,565 shares of the financial services provider’s stock worth $60,634,000 after buying an additional 19,206 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Unum Group by 4.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,138,330 shares of the financial services provider’s stock worth $54,196,000 after buying an additional 43,904 shares in the last quarter. Atwood & Palmer Inc. grew its holdings in Unum Group by 11.4% in the 2nd quarter. Atwood & Palmer Inc. now owns 165,025 shares of the financial services provider’s stock worth $6,104,000 after buying an additional 16,928 shares in the last quarter. James Investment Research Inc. bought a new position in Unum Group in the 2nd quarter worth approximately $18,046,000. Finally, Flinton Capital Management LLC grew its holdings in Unum Group by 60.1% in the 1st quarter. Flinton Capital Management LLC now owns 122,612 shares of the financial services provider’s stock worth $5,837,000 after buying an additional 46,004 shares in the last quarter. Institutional investors and hedge funds own 92.38% of the company’s stock.
Shares of NYSE UNM opened at $35.96 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 8.38, a PEG ratio of 0.77 and a beta of 1.44. Unum Group has a 1 year low of $34.57 and a 1 year high of $58.73.
Unum Group (NYSE:UNM) last issued its quarterly earnings results on Monday, July 30th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.90 billion. Unum Group had a return on equity of 11.19% and a net margin of 9.42%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. equities research analysts forecast that Unum Group will post 5.1 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, July 30th were paid a dividend of $0.26 per share. This is a positive change 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%. The ex-dividend date of this dividend was Friday, July 27th. Unum Group’s dividend payout ratio (DPR) is presently 24.24%.
Unum Group declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 24th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
A number of brokerages recently issued reports on UNM. Deutsche Bank decreased their price objective on Unum Group from $58.00 to $53.00 and set a “hold” rating for the company in a report on Thursday, May 3rd. ValuEngine lowered Unum Group from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Unum Group from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Wells Fargo & Co reissued a “hold” rating and issued a $53.00 price objective on shares of Unum Group in a report on Wednesday, May 2nd. Finally, Barclays decreased their price objective on Unum Group from $65.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, July 9th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $53.31.
In other Unum Group news, EVP Breege A. Farrell sold 7,500 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $40.66, for a total transaction of $304,950.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.
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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