Unum Group (NYSE:UNM) Stake Cut by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt decreased its holdings in shares of Unum Group (NYSE:UNM) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,600 shares of the financial services provider’s stock after selling 5,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Unum Group were worth $2,700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of UNM. Ahrens Investment Partners LLC acquired a new position in Unum Group during the 1st quarter valued at about $44,000. Machina Capital S.A.S. acquired a new stake in Unum Group in the 1st quarter valued at approximately $63,000. Allworth Financial LP boosted its position in Unum Group by 197.6% during the 1st quarter. Allworth Financial LP now owns 1,860 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 1,235 shares during the period. Centaurus Financial Inc. acquired a new position in shares of Unum Group during the first quarter valued at $100,000. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in shares of Unum Group during the first quarter valued at about $103,000. 79.37% of the stock is owned by institutional investors and hedge funds.

Unum Group Stock Performance

UNM stock traded up $0.66 during midday trading on Thursday, hitting $48.88. 241,327 shares of the company traded hands, compared to its average volume of 1,369,668. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 6.69, a price-to-earnings-growth ratio of 0.84 and a beta of 1.09. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.37. Unum Group has a twelve month low of $36.27 and a twelve month high of $51.15. The business has a 50 day simple moving average of $48.82 and a 200-day simple moving average of $45.02.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.19. The business had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.07 billion. Unum Group had a net margin of 11.90% and a return on equity of 15.10%. As a group, equities research analysts predict that Unum Group will post 7.73 earnings per share for the current year.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Friday, July 28th were given a dividend of $0.365 per share. This is a positive change from Unum Group’s previous quarterly dividend of $0.33. This represents a $1.46 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Thursday, July 27th. Unum Group’s payout ratio is 20.25%.

Wall Street Analyst Weigh In

Several brokerages have commented on UNM. Jefferies Financial Group boosted their price target on shares of Unum Group from $55.00 to $59.00 in a research report on Thursday. Citigroup lifted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Morgan Stanley increased their target price on Unum Group from $52.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, August 18th. StockNews.com began coverage on Unum Group in a report on Thursday, August 17th. They set a “buy” rating on the stock. Finally, Truist Financial increased their price objective on Unum Group from $54.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.78.

Insider Activity at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 20,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the sale, the executive vice president now directly owns 72,061 shares of the company’s stock, valued at $3,603,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Unum Group news, EVP Timothy Gerald Arnold sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $50.00, for a total value of $1,000,000.00. Following the transaction, the executive vice president now directly owns 72,061 shares of the company’s stock, valued at $3,603,050. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christopher W. Pyne sold 3,750 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $49.02, for a total value of $183,825.00. Following the completion of the transaction, the executive vice president now owns 46,334 shares in the company, valued at $2,271,292.68. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.

About Unum Group

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block and Corporate 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.