Sentry Investment Management LLC reduced its holdings in shares of Unum Group (NYSE:UNM) by 10.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,830 shares of the financial services provider’s stock after selling 1,776 shares during the quarter. Sentry Investment Management LLC’s holdings in Unum Group were worth $549,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of UNM. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Unum Group by 1.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 714,008 shares of the financial services provider’s stock valued at $33,994,000 after purchasing an additional 9,109 shares during the period. SG Americas Securities LLC boosted its stake in Unum Group by 52.1% in the 1st quarter. SG Americas Securities LLC now owns 87,415 shares of the financial services provider’s stock valued at $4,162,000 after purchasing an additional 29,961 shares during the period. Mackay Shields LLC bought a new stake in Unum Group in the 1st quarter valued at $7,438,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Unum Group by 13.9% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 174,328 shares of the financial services provider’s stock valued at $8,300,000 after purchasing an additional 21,216 shares during the period. Finally, Stephens Inc. AR boosted its stake in Unum Group by 6.8% in the 1st quarter. Stephens Inc. AR now owns 20,510 shares of the financial services provider’s stock valued at $976,000 after purchasing an additional 1,314 shares during the period. Institutional investors own 91.17% of the company’s stock.
Shares of NYSE UNM opened at $37.06 on Wednesday. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 8.64, a P/E/G ratio of 0.80 and a beta of 1.38. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.32. Unum Group has a fifty-two week low of $34.57 and a fifty-two week high of $58.73.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Monday, July 30th. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Unum Group had a return on equity of 11.19% and a net margin of 9.42%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the firm earned $1.05 EPS. Unum Group’s revenue was up 2.8% on a year-over-year basis. equities research analysts forecast that Unum Group will post 5.1 EPS for the current fiscal year.
Unum Group declared that its board has approved a share repurchase program on Thursday, May 24th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Monday, July 30th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, July 27th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.81%. This is a boost from Unum Group’s previous quarterly dividend of $0.23. Unum Group’s payout ratio is 24.24%.
In other news, EVP Breege A. Farrell sold 7,500 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by insiders.
Several analysts recently issued reports on UNM shares. Zacks Investment Research downgraded Unum Group from a “hold” rating to a “sell” rating in a research note on Monday, June 4th. ValuEngine downgraded Unum Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Barclays reduced their price target on Unum Group from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, July 9th. Wells Fargo & Co set a $53.00 price objective on Unum Group and gave the company a “hold” rating in a report on Thursday, May 24th. Finally, Citigroup set a $44.00 price objective on Unum Group and gave the company a “hold” rating in a report on Tuesday, June 12th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $53.31.
About Unum Group
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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