New York State Common Retirement Fund lessened its stake in shares of Unum Group (NYSE:UNM – Free Report) by 12.2% in the third quarter, Holdings Channel reports. The institutional investor owned 207,705 shares of the financial services provider’s stock after selling 28,961 shares during the quarter. New York State Common Retirement Fund’s holdings in Unum Group were worth $10,217,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. SummerHaven Investment Management LLC purchased a new position in shares of Unum Group during the third quarter worth about $744,000. NewSquare Capital LLC grew its holdings in shares of Unum Group by 4.9% during the second quarter. NewSquare Capital LLC now owns 211,184 shares of the financial services provider’s stock worth $10,073,000 after purchasing an additional 9,932 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of Unum Group by 45.6% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 108,882 shares of the financial services provider’s stock worth $5,194,000 after purchasing an additional 34,111 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Unum Group during the second quarter worth about $365,000. Finally, Bessemer Group Inc. grew its holdings in shares of Unum Group by 12.1% during the second quarter. Bessemer Group Inc. now owns 11,545 shares of the financial services provider’s stock worth $551,000 after purchasing an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 79.37% of the company’s stock.
Unum Group Stock Performance
Shares of UNM stock opened at $47.27 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.29 and a current ratio of 0.27. Unum Group has a fifty-two week low of $36.27 and a fifty-two week high of $52.15. The stock has a 50 day moving average price of $45.40 and a two-hundred day moving average price of $46.92. The company has a market capitalization of $9.22 billion, a P/E ratio of 7.28, a PEG ratio of 0.72 and a beta of 0.87.
Unum Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Friday, January 26th will be given a $0.365 dividend. The ex-dividend date is Thursday, January 25th. This represents a $1.46 annualized dividend and a yield of 3.09%. Unum Group’s payout ratio is currently 22.50%.
Unum Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 31st that allows the company to buyback $500.00 million in shares. This buyback authorization allows the financial services provider to buy up to 5.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research analysts have recently commented on UNM shares. Truist Financial cut their price objective on Unum Group from $59.00 to $54.00 and set a “buy” rating for the company in a report on Friday, November 3rd. The Goldman Sachs Group upped their target price on Unum Group from $47.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised Unum Group from a “neutral” rating to an “overweight” rating and set a $55.00 target price for the company in a research note on Wednesday, January 3rd. StockNews.com raised Unum Group from a “hold” rating to a “buy” rating in a research note on Wednesday, January 31st. Finally, Morgan Stanley cut their target price on Unum Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and a consensus target price of $55.44.
Insider Buying and Selling at Unum Group
In related news, EVP Puneet Bhasin sold 8,188 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $42.39, for a total transaction of $347,089.32. Following the completion of the transaction, the executive vice president now owns 54,318 shares in the company, valued at $2,302,540.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.94% of the company’s stock.
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.
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