Unum Group (NYSE:UNM) Director Sells $1,030,957.90 in Stock

Unum Group (NYSE:UNM) Director Hanley Ronald P. O sold 14,299 shares of Unum Group stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $72.10, for a total value of $1,030,957.90. Following the completion of the transaction, the director now owns 38,819 shares in the company, valued at $2,798,849.90. This represents a 26.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Unum Group Stock Performance

Shares of UNM traded up $0.95 during mid-day trading on Friday, reaching $73.20. The company had a trading volume of 1,523,675 shares, compared to its average volume of 1,250,770. The stock has a market capitalization of $13.37 billion, a P/E ratio of 7.82, a PEG ratio of 1.04 and a beta of 0.76. Unum Group has a 52-week low of $41.86 and a 52-week high of $73.24. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $61.20 and a two-hundred day moving average of $55.62.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. Unum Group’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.94 EPS. On average, analysts expect that Unum Group will post 8.53 earnings per share for the current year.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be given a $0.42 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.30%. Unum Group’s payout ratio is 18.18%.

Unum Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC grew its position in Unum Group by 94.5% in the third quarter. Orion Portfolio Solutions LLC now owns 9,109 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 4,425 shares during the period. National Bank of Canada FI boosted its position in shares of Unum Group by 14.2% during the third quarter. National Bank of Canada FI now owns 133,928 shares of the financial services provider’s stock worth $7,961,000 after buying an additional 16,702 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Unum Group during the third quarter worth $237,000. Kovitz Investment Group Partners LLC purchased a new position in shares of Unum Group during the third quarter worth $1,074,000. Finally, Weiss Asset Management LP purchased a new position in shares of Unum Group during the third quarter worth $1,051,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Citigroup raised their price objective on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Barclays lifted their price target on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $67.00 to $84.00 in a research report on Thursday. Finally, Truist Financial lifted their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.73.

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 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.