BidaskClub downgraded shares of Unum Group (NYSE:UNM) from a buy rating to a hold rating in a research note released on Wednesday morning.
Several other brokerages also recently issued reports on UNM. Royal Bank Of Canada reissued a hold rating on shares of Unum Group in a research note on Wednesday, July 12th. Zacks Investment Research downgraded Unum Group from a hold rating to a sell rating in a research note on Thursday, July 13th. Finally, Deutsche Bank AG lifted their target price on Unum Group from $46.00 to $48.00 and gave the company a hold rating in a research note on Wednesday, April 19th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Unum Group presently has a consensus rating of Hold and an average price target of $45.10.
Shares of Unum Group (UNM) traded down 0.48% during midday trading on Wednesday, hitting $47.91. The stock had a trading volume of 361,895 shares. The stock’s 50 day moving average price is $46.54 and its 200 day moving average price is $46.51. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of 11.76 and a beta of 1.55. Unum Group has a 12 month low of $32.05 and a 12 month high of $50.27.
Unum Group (NYSE:UNM) last issued its earnings results on Wednesday, April 26th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.84 billion. Unum Group had a return on equity of 10.23% and a net margin of 8.54%. The firm’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. On average, equities analysts forecast that Unum Group will post $4.10 EPS for the current fiscal year.
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Unum Group announced that its board has initiated a share buyback program on Thursday, May 25th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be paid a $0.23 dividend. This is an increase from Unum Group’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, July 27th. This represents a $0.92 dividend on an annualized basis and a yield of 1.91%. Unum Group’s payout ratio is presently 19.61%.
In other news, EVP Breege A. Farrell sold 15,000 shares of Unum Group stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total value of $682,050.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Q. Simonds sold 5,000 shares of Unum Group stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $46.61, for a total value of $233,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,260 shares of company stock worth $927,174. Corporate insiders own 0.53% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its position in shares of Unum Group by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,434 shares of the financial services provider’s stock worth $114,000 after buying an additional 29 shares during the period. Crestwood Advisors Group LLC bought a new position in shares of Unum Group during the first quarter worth approximately $150,000. First Manhattan Co. boosted its position in shares of Unum Group by 23.0% in the first quarter. First Manhattan Co. now owns 5,350 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,000 shares during the period. Federated Investors Inc. PA boosted its position in shares of Unum Group by 217,300.0% in the fourth quarter. Federated Investors Inc. PA now owns 4,348 shares of the financial services provider’s stock worth $191,000 after buying an additional 4,346 shares during the period. Finally, Coastline Trust Co bought a new position in shares of Unum Group during the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 93.02% of the company’s stock.
About Unum Group
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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