Public Employees Retirement Association of Colorado Trims Holdings in Unum Group (NYSE:UNM)

Public Employees Retirement Association of Colorado lessened its stake in Unum Group (NYSE:UNM) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,212 shares of the financial services provider’s stock after selling 1,348 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Unum Group were worth $1,033,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of Unum Group by 2.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after purchasing an additional 217 shares in the last quarter. Intech Investment Management LLC raised its stake in Unum Group by 468.5% during the second quarter. Intech Investment Management LLC now owns 28,605 shares of the financial services provider’s stock valued at $1,462,000 after buying an additional 23,573 shares in the last quarter. MQS Management LLC bought a new position in Unum Group during the 2nd quarter worth approximately $310,000. Hsbc Holdings PLC lifted its holdings in Unum Group by 106.4% during the 2nd quarter. Hsbc Holdings PLC now owns 233,881 shares of the financial services provider’s stock worth $11,915,000 after buying an additional 120,559 shares during the last quarter. Finally, Blair William & Co. IL acquired a new position in shares of Unum Group in the 2nd quarter worth approximately $210,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Unum Group

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on UNM. Evercore ISI lifted their price objective 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. Truist Financial lifted their price target on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler started coverage on shares of Unum Group in a research note on Thursday, July 11th. They set an “overweight” rating and a $57.00 price objective on the stock. Wells Fargo & Company lifted their target price on Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, Jefferies Financial Group increased their price target on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Unum Group presently has a consensus rating of “Moderate Buy” and an average price target of $62.90.

Unum Group Price Performance

Shares of NYSE UNM opened at $57.41 on Wednesday. The firm’s 50-day simple moving average is $54.64 and its 200 day simple moving average is $52.78. The stock has a market cap of $10.87 billion, a P/E ratio of 8.53, a P/E/G 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. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $58.69.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. 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 earnings per share. The business’s revenue was up 3.9% on a year-over-year basis. Equities analysts expect that Unum Group will post 8.5 EPS for the current year.

Unum Group announced that its board has approved a share repurchase plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Unum Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were issued 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 is 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.