Rhumbline Advisers decreased its holdings in shares of Unum Group (NYSE:UNM) by 2.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 420,882 shares of the financial services provider’s stock after selling 9,064 shares during the period. Rhumbline Advisers owned approximately 0.19% of Unum Group worth $15,568,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of UNM. Bank of Montreal Can bought a new stake in shares of Unum Group during the 2nd quarter valued at $152,694,000. Victory Capital Management Inc. grew its holdings in shares of Unum Group by 1,402.8% in the 2nd quarter. Victory Capital Management Inc. now owns 1,032,795 shares of the financial services provider’s stock valued at $38,203,000 after buying an additional 964,068 shares during the period. Hexavest Inc. acquired a new position in shares of Unum Group in the 2nd quarter valued at $32,895,000. Millennium Management LLC grew its holdings in shares of Unum Group by 90.9% in the 1st quarter. Millennium Management LLC now owns 1,550,354 shares of the financial services provider’s stock valued at $73,812,000 after buying an additional 738,146 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Unum Group in the 1st quarter valued at $25,214,000. Institutional investors own 92.38% of the company’s stock.
UNM has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Unum Group from $60.00 to $59.00 and set an “equal weight” rating for the company in a report on Wednesday, May 2nd. Wells Fargo & Co reissued a “hold” rating and issued a $53.00 price target on shares of Unum Group in a report on Wednesday, May 2nd. Zacks Investment Research lowered shares of Unum Group from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Deutsche Bank decreased 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. Finally, Citigroup set a $44.00 price target on shares of Unum Group and gave the company a “hold” rating in a report on Tuesday, June 12th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Unum Group presently has an average rating of “Hold” and an average price target of $53.31.
Shares of NYSE UNM opened at $35.96 on Tuesday. The firm has a market capitalization of $7.69 billion, a P/E ratio of 8.38, a P/E/G ratio of 0.77 and a beta of 1.44. 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 has a 1-year low of $34.57 and a 1-year high of $58.73.
Unum Group (NYSE:UNM) last announced its earnings results on Monday, July 30th. The financial services provider reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 net margin of 9.42% and a return on equity of 11.19%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.05 EPS. sell-side analysts expect that Unum Group will post 5.1 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Monday, July 30th were paid a $0.26 dividend. The ex-dividend date was Friday, July 27th. 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%. Unum Group’s dividend payout ratio is presently 24.24%.
Unum Group declared that its Board of Directors has authorized a share buyback program on Thursday, May 24th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the financial services provider to purchase up to 8.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In related news, EVP Breege A. Farrell sold 7,500 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.
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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