Cambridge Investment Research Advisors Inc. reduced its stake in Unum Group (NYSE:UNM) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,999 shares of the financial services provider’s stock after selling 545 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Unum Group were worth $326,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Keybank National Association OH raised its holdings in Unum Group by 4.6% in the 1st quarter. Keybank National Association OH now owns 24,107 shares of the financial services provider’s stock worth $1,130,000 after acquiring an additional 1,067 shares during the last quarter. Achmea Investment Management B.V. purchased a new position in Unum Group in the 1st quarter worth approximately $3,930,000. State of Tennessee Treasury Department raised its holdings in Unum Group by 64.0% in the 1st quarter. State of Tennessee Treasury Department now owns 175,796 shares of the financial services provider’s stock worth $8,244,000 after acquiring an additional 68,624 shares during the last quarter. Aviva PLC raised its holdings in Unum Group by 0.5% in the 2nd quarter. Aviva PLC now owns 144,311 shares of the financial services provider’s stock worth $6,731,000 after acquiring an additional 690 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in Unum Group by 30.5% in the 2nd quarter. Prudential Financial Inc. now owns 3,109,206 shares of the financial services provider’s stock worth $144,982,000 after acquiring an additional 727,487 shares during the last quarter. 92.37% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on UNM. BidaskClub upgraded shares of Unum Group from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered shares of Unum Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Barclays PLC boosted their price objective on shares of Unum Group from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Wells Fargo & Company restated a “hold” rating on shares of Unum Group in a report on Sunday, July 30th. Finally, ValuEngine upgraded shares of Unum Group from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $46.56.
Shares of Unum Group (NYSE:UNM) opened at 48.43 on Friday. Unum Group has a 52 week low of $33.98 and a 52 week high of $51.43. The firm’s 50-day moving average is $48.87 and its 200-day moving average is $47.23. The stock has a market capitalization of $10.93 billion, a price-to-earnings ratio of 11.66 and a beta of 1.57.
Unum Group (NYSE:UNM) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. Analysts forecast that Unum Group will post $4.17 earnings per share for the current fiscal year.
Unum Group announced that its board has approved a stock buyback program on Thursday, May 25th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the financial services provider to purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, July 31st were paid a dividend of $0.23 per share. This is an increase from Unum Group’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, July 27th. Unum Group’s payout ratio is presently 22.17%.
In other news, EVP Breege A. Farrell sold 15,000 shares of Unum Group stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $45.47, for a total transaction of $682,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gloria C. Larson sold 2,460 shares of Unum Group stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $50.23, for a total transaction of $123,565.80. The disclosure for this sale can be found here. Insiders have sold 19,960 shares of company stock valued at $932,391 over the last quarter. Insiders own 0.53% of the company’s stock.
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Unum Group Profile
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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