Hancock Whitney Corp Has $1.70 Million Holdings in Unum Group (NYSE:UNM)

Hancock Whitney Corp lessened its stake in Unum Group (NYSE:UNM) by 14.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,251 shares of the financial services provider’s stock after selling 5,520 shares during the quarter. Hancock Whitney Corp’s holdings in Unum Group were worth $1,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in UNM. Versant Capital Management Inc boosted its holdings in shares of Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after buying an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new position in Unum Group during the second quarter worth $26,000. Salomon & Ludwin LLC acquired a new position in Unum Group during the first quarter worth $28,000. 1620 Investment Advisors Inc. acquired a new position in Unum Group during the second quarter worth $29,000. Finally, MCF Advisors LLC acquired a new position in Unum Group during the first quarter worth $35,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Activity

In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The transaction was disclosed in a legal filing 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 transaction, the executive vice president now directly owns 64,821 shares in the company, valued at $3,507,464.31. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on UNM shares. JPMorgan Chase & Co. increased their target price on shares of Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Evercore ISI increased their target price on shares of Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a report on Wednesday, June 26th. Barclays assumed coverage on shares of Unum Group in a report on Wednesday, September 4th. They set an “overweight” rating and a $73.00 target price for the company. Truist Financial increased their price target 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, Citigroup increased their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.90.

Unum Group Price Performance

Shares of UNM opened at $57.35 on Friday. The firm 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 company’s 50-day moving average is $54.46 and its 200-day moving average is $52.67. Unum Group has a fifty-two week low of $41.75 and a fifty-two week 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.

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. Equities analysts forecast that Unum Group will post 8.5 EPS for the current year.

Unum Group declared that its board has approved a share repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares buyback programs 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 $0.42 dividend. The ex-dividend date was Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a dividend yield of 2.93%. Unum Group’s dividend payout ratio is presently 24.96%.

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.