Bank of Montreal Can Sells 4,084 Shares of Unum Group (NYSE:UNM)

Bank of Montreal Can lowered its stake in shares of Unum Group (NYSE:UNM) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,080 shares of the financial services provider’s stock after selling 4,084 shares during the period. Bank of Montreal Can’s holdings in Unum Group were worth $2,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC boosted its holdings 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 during the last quarter. Cetera Advisors LLC bought a new position in shares of Unum Group during the 1st quarter valued at about $703,000. Van ECK Associates Corp bought a new position in shares of Unum Group during the 2nd quarter valued at about $3,945,000. My Legacy Advisors LLC bought a new position in shares of Unum Group during the 2nd quarter valued at about $473,000. Finally, CoreCap Advisors LLC bought a new position in shares of Unum Group during the 2nd quarter valued at about $2,007,000. Institutional investors own 86.57% of the company’s stock.

Unum Group Stock Up 0.5 %

NYSE:UNM opened at $76.08 on Friday. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 8.23, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79. Unum Group has a twelve month low of $42.09 and a twelve month high of $77.63. The stock’s 50 day moving average price is $67.33 and its two-hundred day moving average price is $58.13. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.94 EPS. Equities research analysts expect that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is 18.18%.

Wall Street Analyst Weigh In

UNM has been the topic of several recent analyst reports. Barclays lifted their price objective on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial lifted their price objective on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler reiterated an “overweight” rating and set a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Morgan Stanley lifted their price objective on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $67.00 to $84.00 in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Insiders Place Their Bets

In related news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total transaction of $104,340.00. Following the transaction, the chief accounting officer now directly owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. The trade was a 15.21 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the business’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 value of $769,200.00. Following the transaction, the executive vice president now directly owns 54,827 shares in the company, valued at $4,217,292.84. The trade was a 15.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 107,914 shares of company stock valued at $7,998,745 in the last 90 days. 0.93% of the stock is currently owned by insiders.

Unum Group Company 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.