Cambria Investment Management L.P. Sells 4,048 Shares of Unum Group (NYSE:UNM)

Cambria Investment Management L.P. decreased its holdings in shares of Unum Group (NYSE:UNM) by 19.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,296 shares of the financial services provider’s stock after selling 4,048 shares during the period. Cambria Investment Management L.P.’s holdings in Unum Group were worth $825,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Raleigh Capital Management Inc. bought a new stake in Unum Group during the second quarter valued at $27,000. Financial Management Professionals Inc. lifted its stake in Unum Group by 2,262.1% during the second quarter. Financial Management Professionals Inc. now owns 685 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 656 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in Unum Group by 228.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 743 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 517 shares during the last quarter. CVA Family Office LLC lifted its stake in Unum Group by 37.8% during the second quarter. CVA Family Office LLC now owns 1,075 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 295 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Unum Group by 64.7% during the second quarter. Global Retirement Partners LLC now owns 1,398 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 549 shares during the last quarter. Institutional investors own 79.37% of the company’s stock.

Unum Group Stock Performance

Shares of UNM opened at $42.56 on Thursday. The business’s 50 day moving average price is $47.99 and its 200-day moving average price is $47.36. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.36. Unum Group has a 52 week low of $36.27 and a 52 week high of $52.15. The stock has a market cap of $8.30 billion, a P/E ratio of 6.88, a P/E/G ratio of 0.81 and a beta of 1.07.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.92 by $0.02. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Unum Group had a return on equity of 15.54% and a net margin of 10.07%. Unum Group’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.51 earnings per share. Equities research analysts anticipate that Unum Group will post 7.72 earnings per share for the current fiscal year.

Unum Group announced that its board has approved a share repurchase plan on Tuesday, October 31st that permits the company to buyback $500.00 million in shares. This buyback authorization permits the financial services provider to reacquire up to 5.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Shareholders of record on Friday, October 27th will be paid a dividend of $0.365 per share. The ex-dividend date is Thursday, October 26th. This represents a $1.46 dividend on an annualized basis and a yield of 3.43%. Unum Group’s dividend payout ratio is presently 23.59%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Morgan Stanley dropped their price target on Unum Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday. StockNews.com upgraded Unum Group from a “hold” rating to a “buy” rating in a report on Monday. Jefferies Financial Group lifted their price objective on Unum Group from $55.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, September 14th. Truist Financial decreased their price objective on Unum Group from $59.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Finally, Wells Fargo & Company lifted their price objective on Unum Group from $62.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, August 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.50.

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.