Abich Financial Wealth Management LLC Buys Shares of 1,313 Unum Group (NYSE:UNM)

Abich Financial Wealth Management LLC purchased a new position in shares of Unum Group (NYSE:UNM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,313 shares of the financial services provider’s stock, valued at approximately $67,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UNM. Quadrature Capital Ltd bought a new position in Unum Group in the first quarter valued at $1,130,000. Boone Capital Management LLC boosted its position in Unum Group by 10.8% during the fourth quarter. Boone Capital Management LLC now owns 961,661 shares of the financial services provider’s stock valued at $43,486,000 after purchasing an additional 94,096 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Unum Group by 3.6% during the fourth quarter. Allianz Asset Management GmbH now owns 950,914 shares of the financial services provider’s stock valued at $43,000,000 after purchasing an additional 33,454 shares during the last quarter. First Trust Advisors LP grew its stake in Unum Group by 43.0% in the fourth 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. Finally, Tidal Investments LLC increased its position in shares of Unum Group by 80.7% during the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock worth $3,436,000 after purchasing an additional 28,580 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Unum Group

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

Unum Group Trading Down 1.4 %

Shares of UNM stock opened at $57.41 on Wednesday. Unum Group has a 12-month low of $41.75 and a 12-month high of $58.69. The company has a market capitalization of $10.67 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.86 and a beta of 0.77. The firm has a 50 day moving average price of $54.64 and a two-hundred day moving average price of $52.78. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33.

Unum Group (NYSE:UNM) last released its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period last year, the firm posted $2.06 EPS. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, analysts predict that Unum Group will post 8.48 earnings per share for the current year.

Unum Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, July 26th. This is an increase 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 24.96%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on UNM shares. Wells Fargo & Company raised their target price on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. 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 research report on Thursday, August 1st. Barclays began coverage on shares of Unum Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 target price on the stock. Piper Sandler assumed coverage on Unum Group in a report on Thursday, July 11th. They set an “overweight” rating and a $57.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $62.90.

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.