Citigroup Inc. Increases Holdings in Unum Group (NYSE:UNM)

Citigroup Inc. increased its stake in Unum Group (NYSE:UNM) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 62,491 shares of the financial services provider’s stock after purchasing an additional 8,186 shares during the quarter. Citigroup Inc.’s holdings in Unum Group were worth $3,714,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in UNM. Charles Schwab Investment Management Inc. grew its position in Unum Group by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock worth $326,950,000 after buying an additional 55,014 shares in the last quarter. ProShare Advisors LLC grew its position in Unum Group by 89.8% during the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock worth $61,728,000 after buying an additional 571,436 shares in the last quarter. Victory Capital Management Inc. grew its position in Unum Group by 5.9% during the third quarter. Victory Capital Management Inc. now owns 1,186,262 shares of the financial services provider’s stock worth $70,511,000 after buying an additional 66,392 shares in the last quarter. Wedge Capital Management L L P NC grew its position in Unum Group by 8.0% during the second quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock worth $44,609,000 after buying an additional 64,661 shares in the last quarter. Finally, Sei Investments Co. grew its position in Unum Group by 9.5% during the second quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider’s stock worth $21,127,000 after buying an additional 35,723 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total transaction of $769,200.00. Following the completion of the transaction, the executive vice president now owns 54,827 shares of the company’s stock, valued at $4,217,292.84. This represents a 15.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard P. Mckenney sold 58,865 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $75.39, for a total value of $4,437,832.35. Following the transaction, the chief executive officer now directly owns 1,007,003 shares of the company’s stock, valued at $75,917,956.17. The trade was a 5.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,914 shares of company stock valued at $7,998,745 in the last 90 days. Insiders own 0.93% of the company’s stock.

Unum Group Trading Down 0.5 %

NYSE UNM opened at $75.67 on Thursday. Unum Group has a 1-year low of $42.09 and a 1-year high of $77.63. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $66.97 and a 200-day moving average of $58.01. The firm has a market cap of $13.82 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the company posted $1.94 EPS. Unum Group’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Unum Group will post 8.53 EPS for the current year.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date was Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Truist Financial boosted their target price on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler restated an “overweight” rating and set a $66.00 target price (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Bank of America boosted their target price on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Finally, Morgan Stanley lifted their price target on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

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.