Thrivent Financial for Lutherans Sells 3,229 Shares of Unum Group (NYSE:UNM)

Thrivent Financial for Lutherans lessened its position in Unum Group (NYSE:UNM) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 59,018 shares of the financial services provider’s stock after selling 3,229 shares during the period. Thrivent Financial for Lutherans’ holdings in Unum Group were worth $3,016,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Unum Group by 7.1% in the 1st quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock valued at $165,000 after buying an additional 204 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Unum Group by 2.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 217 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Unum Group by 1.8% in the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 226 shares during the period. FinTrust Capital Advisors LLC increased its stake in Unum Group by 20.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 247 shares in the last quarter. Finally, Bank of Nova Scotia raised its holdings in Unum Group by 2.8% during the 4th quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock worth $416,000 after buying an additional 249 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Stock Performance

Shares of NYSE UNM opened at $58.65 on Monday. Unum Group has a 12 month low of $41.75 and a 12 month high of $59.01. The stock has a 50 day moving average of $54.90 and a 200-day moving average of $52.93. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $10.90 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.85 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.14. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.06 earnings per share. As a group, equities research analysts predict that Unum Group will post 8.48 EPS for the current year.

Unum Group announced that its board has initiated a stock repurchase program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Unum Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, July 26th. This is a boost from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s payout ratio is currently 24.96%.

Insider Activity

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

Wall Street Analyst Weigh In

Several research firms recently commented on UNM. Barclays started coverage on shares of Unum Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price objective on the stock. Wells Fargo & Company upped their price objective on Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Jefferies Financial Group lifted their target price on Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price target on Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Truist Financial lifted their price objective on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.80.

Unum Group 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.