Unum Group (NYSE:UNM) CEO Richard P. Mckenney Sells 58,865 Shares

Unum Group (NYSE:UNM) CEO Richard P. Mckenney sold 58,865 shares of Unum Group stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $75.39, for a total transaction of $4,437,832.35. Following the completion of the transaction, the chief executive officer now owns 1,007,003 shares in the company, valued at $75,917,956.17. This trade represents a 5.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Unum Group Stock Up 0.5 %

UNM opened at $75.84 on Monday. The company has a market capitalization of $13.85 billion, a P/E ratio of 8.21, a P/E/G ratio of 1.11 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. The firm’s fifty day moving average price is $63.86 and its two-hundred day moving average price is $56.71. Unum Group has a fifty-two week low of $41.97 and a fifty-two week high of $76.31.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share 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 for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $1.94 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, analysts anticipate that Unum Group will post 8.53 EPS for the current year.

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

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were given a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on UNM shares. UBS Group raised Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley raised their target price on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price target on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, Truist Financial upped 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. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.73.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of UNM. CIBC Asset Management Inc grew its holdings in shares of Unum Group by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 180 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Unum Group by 38.2% during the third quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock worth $42,000 after buying an additional 194 shares during the last quarter. Brooklyn Investment Group grew its stake in Unum Group by 3.1% during the third quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock worth $392,000 after buying an additional 197 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Unum Group by 2.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock worth $518,000 after buying an additional 217 shares in the last quarter. Finally, Caprock Group LLC raised its stake in shares of Unum Group by 1.8% in the third quarter. Caprock Group LLC now owns 12,308 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 221 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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.