Sumitomo Mitsui Trust Group Inc. Boosts Stock Holdings in Unum Group (NYSE:UNM)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Unum Group (NYSE:UNM) by 435.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 33,208 shares of the financial services provider’s stock after purchasing an additional 27,008 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Unum Group were worth $1,974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its holdings in Unum Group by 1.0% during the third quarter. GSA Capital Partners LLP now owns 27,090 shares of the financial services provider’s stock worth $1,610,000 after purchasing an additional 265 shares in the last quarter. Entropy Technologies LP acquired a new position in Unum Group during the third quarter worth about $340,000. Apollon Wealth Management LLC acquired a new position in Unum Group during the third quarter worth about $235,000. Los Angeles Capital Management LLC acquired a new position in Unum Group during the third quarter worth about $548,000. Finally, Crossmark Global Holdings Inc. grew its position in shares of Unum Group by 5.3% in the third quarter. Crossmark Global Holdings Inc. now owns 31,706 shares of the financial services provider’s stock valued at $1,885,000 after purchasing an additional 1,600 shares during the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Price Performance

Shares of UNM stock opened at $72.58 on Tuesday. The firm has a market cap of $13.25 billion, a P/E ratio of 7.85, a P/E/G ratio of 1.07 and a beta of 0.76. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a 1-year low of $41.97 and a 1-year high of $73.62. The firm has a fifty day moving average of $61.92 and a two-hundred day moving average of $55.95.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business posted $1.94 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts anticipate that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group announced that its board has approved a share repurchase program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 10% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.31%. Unum Group’s dividend payout ratio is presently 18.18%.

Insider Activity at Unum Group

In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total transaction of $104,340.00. Following the sale, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. The trade was a 15.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction dated 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 owns 1,065,868 shares in the company, valued at $58,601,422.64. This trade represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,844 shares of company stock worth $5,411,032 in the last ninety days. 0.93% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on UNM. Bank of America increased their price target on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Morgan Stanley increased their price target on shares of Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Truist Financial raised 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, Wells Fargo & Company raised their price target on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

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.