Mutual of America Capital Management LLC Sells 6,394 Shares of Unum Group (NYSE:UNM)

Mutual of America Capital Management LLC lowered its stake in Unum Group (NYSE:UNM) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,926 shares of the financial services provider’s stock after selling 6,394 shares during the quarter. Mutual of America Capital Management LLC owned 0.05% of Unum Group worth $5,209,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Versant Capital Management Inc increased its stake in 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 purchasing an additional 394 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Unum Group in the 2nd quarter valued at about $26,000. Salomon & Ludwin LLC bought a new stake in Unum Group in the 1st quarter valued at about $28,000. 1620 Investment Advisors Inc. acquired a new position in Unum Group during the 2nd quarter worth approximately $29,000. Finally, MCF Advisors LLC bought a new position in Unum Group in the first quarter worth approximately $35,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on UNM. Piper Sandler initiated coverage on Unum Group in a research report on Thursday, July 11th. They set an “overweight” rating and a $57.00 target price on the stock. Jefferies Financial Group raised their price objective on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Evercore ISI boosted their target price on shares of Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. 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 target on the stock. Finally, Truist Financial boosted their price objective on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Unum Group has an average rating of “Moderate Buy” and a consensus price target of $62.90.

Unum Group Price Performance

Shares of NYSE UNM opened at $57.35 on Friday. 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 company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average price is $54.46 and its 200-day moving average price is $52.67. Unum Group has a twelve month low of $41.75 and a twelve month high of $58.17.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.14. The business had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.06 earnings per share. On average, equities analysts anticipate that Unum Group will post 8.5 EPS for the current year.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were paid 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 payout ratio is presently 24.96%.

Unum Group announced that its Board of Directors has initiated a share 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 buy up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The stock was 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 owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction that occurred 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 of the company’s stock, valued at $58,601,422.64. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

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.