Chartwell Investment Partners LLC grew its position in Unum Group (NYSE:UNM) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,040 shares of the financial services provider’s stock after acquiring an additional 4,965 shares during the period. Chartwell Investment Partners LLC’s holdings in Unum Group were worth $1,777,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Cerebellum GP LLC purchased a new stake in shares of Unum Group in the second quarter valued at approximately $176,000. Quadrature Capital Ltd purchased a new stake in shares of Unum Group during the 1st quarter worth $222,000. IBM Retirement Fund purchased a new stake in shares of Unum Group during the 1st quarter worth $234,000. Investors Asset Management of Georgia Inc. GA ADV purchased a new stake in shares of Unum Group during the 2nd quarter worth $270,000. Finally, Jacobi Capital Management LLC boosted its position in shares of Unum Group by 29.0% during the 1st quarter. Jacobi Capital Management LLC now owns 5,871 shares of the financial services provider’s stock worth $274,000 after purchasing an additional 1,320 shares in the last quarter. 91.17% of the stock is currently owned by institutional investors and hedge funds.
Unum Group stock opened at $36.76 on Friday. Unum Group has a 52 week low of $34.57 and a 52 week high of $58.73. The stock has a market capitalization of $7.92 billion, a P/E ratio of 8.57, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.18 and a current ratio of 0.18.
Unum Group (NYSE:UNM) last announced its quarterly earnings results on Monday, July 30th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.03. Unum Group had a net margin of 9.42% and a return on equity of 11.19%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. analysts forecast that Unum Group will post 5.1 EPS for the current fiscal year.
Unum Group announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 24th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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 represents a $1.04 dividend on an annualized basis and a yield of 2.83%. This is a positive change from Unum Group’s previous quarterly dividend of $0.23. Unum Group’s dividend payout ratio is presently 24.24%.
In related news, EVP Breege A. Farrell sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $40.66, for a total value of $304,950.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.
UNM has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Unum Group from a “hold” rating to a “sell” rating in a report on Monday, June 4th. Deutsche Bank decreased their price objective on shares of Unum Group from $58.00 to $53.00 and set a “hold” rating on the stock in a report on Thursday, May 3rd. ValuEngine lowered Unum Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Barclays decreased their price target on Unum Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Finally, Wells Fargo & Co set a $53.00 price target on Unum Group and gave the stock a “hold” rating in a research note on Thursday, May 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $53.31.
Unum Group Company 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.
Further Reading: Book Value Per Share in Stock Trading
Want to see what other hedge funds are holding UNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unum Group (NYSE:UNM).
Receive News & Ratings for Unum Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Unum Group and related companies with MarketBeat.com's FREE daily email newsletter.