Federated Hermes Inc. Has $1.10 Million Stake in Unum Group (NYSE:UNM)

Federated Hermes Inc. reduced its holdings in Unum Group (NYSE:UNM) by 28.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,512 shares of the financial services provider’s stock after selling 8,363 shares during the quarter. Federated Hermes Inc.’s holdings in Unum Group were worth $1,099,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of UNM. Versant Capital Management Inc lifted its position in shares of Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Unum Group in the 2nd quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in Unum Group during the 1st quarter worth $28,000. 1620 Investment Advisors Inc. bought a new position in Unum Group in the 2nd quarter valued at $29,000. Finally, MCF Advisors LLC acquired a new stake in shares of Unum Group in the 1st quarter valued at $35,000. 86.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the 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 owns 64,821 shares in the company, valued at approximately $3,507,464.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction on Wednesday, August 14th. The shares were 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 owns 64,821 shares in the company, valued at $3,507,464.31. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on UNM. Citigroup upped their price target on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Piper Sandler started coverage on shares of Unum Group in a research note on Thursday, July 11th. They issued an “overweight” rating and a $57.00 target price on the stock. Jefferies Financial Group boosted their price target on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Truist Financial raised their price objective on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Company upped their target price on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Three equities research 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, Unum Group currently has a consensus rating of “Moderate Buy” and an average price target of $62.90.

Unum Group Stock Performance

Shares of Unum Group stock opened at $57.35 on Friday. Unum Group has a 12 month low of $41.75 and a 12 month high of $58.17. 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 $10.86 billion, a PE ratio of 8.52, a PEG ratio of 0.83 and a beta of 0.77. The stock’s fifty day simple moving average is $54.46 and its 200 day simple moving average is $52.67.

Unum Group (NYSE:UNM) last released 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. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the previous year, the business posted $2.06 EPS. Unum Group’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, research analysts predict that Unum Group will post 8.5 EPS for the current year.

Unum Group announced that its board has initiated 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 buy up to 10% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were given a dividend of $0.42 per share. This is an increase from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a dividend yield of 2.93%. Unum Group’s dividend payout ratio is currently 24.96%.

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.