Rhumbline Advisers Sells 5,737 Shares of Unum Group (NYSE:UNM)

Rhumbline Advisers reduced its position in Unum Group (NYSE:UNM) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 527,986 shares of the financial services provider’s stock after selling 5,737 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Unum Group worth $38,559,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Unum Group by 151.7% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after acquiring an additional 307,175 shares during the period. Franklin Resources Inc. lifted its stake in Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after purchasing an additional 156,380 shares during the period. International Assets Investment Management LLC boosted its holdings in Unum Group by 5,844.0% during the third quarter. International Assets Investment Management LLC now owns 101,048 shares of the financial services provider’s stock valued at $6,006,000 after purchasing an additional 99,348 shares in the last quarter. Algert Global LLC grew its stake in shares of Unum Group by 69.5% in the 3rd quarter. Algert Global LLC now owns 236,264 shares of the financial services provider’s stock valued at $14,044,000 after purchasing an additional 96,916 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Unum Group during the 3rd quarter worth approximately $5,021,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Transactions at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total transaction of $769,200.00. Following the transaction, the executive vice president now owns 54,827 shares in the company, valued at approximately $4,217,292.84. This trade represents a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 58,865 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $75.39, for a total value of $4,437,832.35. Following the transaction, the chief executive officer now owns 1,007,003 shares of the company’s stock, valued at $75,917,956.17. The trade was a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,865 shares of company stock worth $5,952,032 in the last three months. Insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on UNM. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $67.00 to $84.00 in a research report on Thursday, November 14th. BMO Capital Markets assumed coverage on shares of Unum Group in a report on Thursday, January 23rd. They set an “outperform” rating and a $91.00 price target for the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $79.00 price objective (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Truist Financial lifted their target price on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group increased their price target on Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and an average target price of $80.33.

Unum Group Trading Down 0.5 %

Shares of UNM opened at $73.98 on Wednesday. The stock’s fifty day simple moving average is $74.19 and its 200-day simple moving average is $66.35. The firm has a market capitalization of $13.51 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 1.17 and a beta of 0.80. Unum Group has a 12-month low of $48.38 and a 12-month high of $79.43. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. As a group, research analysts predict that Unum Group will post 9.12 earnings per share for the current year.

Unum Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is currently 17.74%.

Unum Group Company 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.