Amalgamated Bank Trims Stock Holdings in Unum Group (NYSE:UNM)

Amalgamated Bank cut its stake in Unum Group (NYSE:UNM) by 3.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 136,519 shares of the financial services provider’s stock after selling 5,113 shares during the quarter. Amalgamated Bank owned about 0.07% of Unum Group worth $6,173,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Silver Oak Securities Incorporated bought a new stake in shares of Unum Group during the third quarter valued at about $25,000. Contravisory Investment Management Inc. purchased a new stake in shares of Unum Group in the 4th quarter valued at about $25,000. Neo Ivy Capital Management purchased a new position in shares of Unum Group during the third quarter worth about $36,000. Daiwa Securities Group Inc. bought a new position in shares of Unum Group in the fourth quarter worth approximately $36,000. Finally, CVA Family Office LLC purchased a new stake in Unum Group in the fourth quarter valued at approximately $49,000. 86.57% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Steven Andrew Zabel sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $51.06, for a total value of $510,600.00. Following the completion of the transaction, the chief financial officer now owns 122,246 shares of the company’s stock, valued at approximately $6,241,880.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Steven Andrew Zabel sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $51.06, for a total transaction of $510,600.00. Following the sale, the chief financial officer now owns 122,246 shares in the company, valued at $6,241,880.76. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $49.15, for a total transaction of $2,457,500.00. Following the completion of the transaction, the chief executive officer now owns 1,076,753 shares of the company’s stock, valued at $52,922,409.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,000 shares of company stock valued at $4,018,100. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Price Performance

Shares of NYSE UNM opened at $51.62 on Monday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a 1 year low of $41.75 and a 1 year high of $54.57. The company’s 50-day moving average is $51.55 and its 200 day moving average is $47.67. The stock has a market capitalization of $9.78 billion, a P/E ratio of 7.67, a P/E/G ratio of 1.28 and a beta of 0.87.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, April 30th. The financial services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.97 by $0.15. Unum Group had a net margin of 10.52% and a return on equity of 16.02%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the firm posted $1.87 earnings per share. Unum Group’s quarterly revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts expect that Unum Group will post 8.19 earnings per share for the current year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.365 per share. This represents a $1.46 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, April 25th. Unum Group’s payout ratio is 21.69%.

Wall Street Analyst Weigh In

UNM has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on shares of Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a report on Monday, April 15th. StockNews.com upgraded Unum Group from a “hold” rating to a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company upped their target price on Unum Group from $64.00 to $66.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Truist Financial lifted their price target on shares of Unum Group from $57.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Unum Group from $47.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and an average price target of $57.38.

Unum Group Profile

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 segment. 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.