Unum Group (NYSE:UNM) Shares Sold by Amalgamated Bank

Amalgamated Bank decreased its stake in shares of Unum Group (NYSE:UNM) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 113,827 shares of the financial services provider’s stock after selling 12,652 shares during the period. Amalgamated Bank owned 0.06% of Unum Group worth $5,818,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Unum Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock worth $931,109,000 after buying an additional 300,840 shares during the last quarter. Nordea Investment Management AB grew its position in Unum Group by 51.7% during the first quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock valued at $158,590,000 after acquiring an additional 1,008,776 shares during the period. Goldman Sachs Group Inc. increased its stake in Unum Group by 16.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,017,367 shares of the financial services provider’s stock worth $91,225,000 after acquiring an additional 291,757 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Unum Group by 62.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after purchasing an additional 432,240 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Unum Group by 43.0% in the 4th quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock valued at $44,021,000 after purchasing an additional 292,917 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Trading Up 0.8 %

UNM opened at $57.34 on Friday. Unum Group has a 12-month low of $41.75 and a 12-month high of $58.17. 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 stock has a market capitalization of $10.65 billion, a PE ratio of 8.52, a P/E/G ratio of 0.83 and a beta of 0.77. The firm’s fifty day moving average price is $54.46 and its 200 day moving average price is $52.65.

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, beating analysts’ consensus estimates of $2.02 by $0.14. The business 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 for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.06 EPS. As a group, research analysts expect that Unum Group will post 8.5 EPS for the current fiscal year.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were given a $0.42 dividend. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 2.93%. Unum Group’s dividend payout ratio (DPR) is presently 24.96%.

Unum Group announced that its Board of Directors has authorized a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on UNM. Barclays began coverage on shares of Unum Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price target on the stock. Evercore ISI increased their target price on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research note on Wednesday, June 26th. Wells Fargo & Company raised their target price on Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Jefferies Financial Group upped their price target on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Unum Group presently has an average rating of “Moderate Buy” and a consensus price target of $62.90.

Insider Activity

In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

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.