Assenagon Asset Management S.A. Buys 64,062 Shares of Unum Group (NYSE:UNM)

Assenagon Asset Management S.A. raised its stake in Unum Group (NYSE:UNM) by 24.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 325,796 shares of the financial services provider’s stock after purchasing an additional 64,062 shares during the quarter. Assenagon Asset Management S.A. owned 0.18% of Unum Group worth $19,365,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after buying an additional 394 shares during the period. V Square Quantitative Management LLC purchased a new position in Unum Group during the 2nd quarter valued at about $26,000. Salomon & Ludwin LLC bought a new position in Unum Group during the 1st quarter valued at approximately $28,000. 1620 Investment Advisors Inc. bought a new position in Unum Group during the 2nd quarter valued at approximately $29,000. Finally, MCF Advisors LLC purchased a new stake in Unum Group in the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Price Performance

Shares of NYSE:UNM opened at $61.67 on Friday. The business has a fifty day moving average price of $58.10 and a 200-day moving average price of $54.19. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $11.68 billion, a PE ratio of 9.16, a PEG ratio of 0.93 and a beta of 0.77. Unum Group has a 1-year low of $41.75 and a 1-year high of $64.52.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the previous year, the company earned $2.06 earnings per share. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts expect that Unum Group will post 8.49 EPS for the current fiscal year.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.72%. Unum Group’s dividend payout ratio is 24.96%.

Unum Group announced that its board has approved a stock buyback plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 10% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on UNM. UBS Group raised Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Truist Financial upped their price objective on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays cut their target price on shares of Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Bank of America increased their price target on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. cut their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.64.

Insiders Place Their Bets

In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the sale, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

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.