Unum Group (NYSE:UNM) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in Unum Group (NYSE:UNM) by 22.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,213 shares of the financial services provider’s stock after acquiring an additional 1,346 shares during the quarter. GAMMA Investing LLC’s holdings in Unum Group were worth $429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc lifted its holdings in shares of 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 buying an additional 394 shares during the period. V Square Quantitative Management LLC bought a new stake in Unum Group during the second quarter worth approximately $26,000. Salomon & Ludwin LLC acquired a new position in Unum Group in the first quarter worth approximately $28,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Unum Group during the 2nd quarter valued at $29,000. Finally, MCF Advisors LLC bought a new stake in shares of Unum Group during the 1st quarter worth $35,000. 86.57% of the stock is currently owned by institutional investors.

Unum Group Stock Up 2.0 %

Shares of NYSE UNM opened at $61.65 on Thursday. The business has a fifty day moving average of $55.88 and a two-hundred day moving average of $53.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a 52-week low of $41.75 and a 52-week high of $61.83. The stock has a market cap of $11.68 billion, a PE ratio of 9.16, a PEG ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued 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. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts expect that Unum Group will post 8.48 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were given a $0.42 dividend. This is an increase from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 2.73%. Unum Group’s payout ratio is presently 24.96%.

Unum Group announced that its Board of Directors has approved a share buyback program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on UNM shares. Truist Financial lifted their price target on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and set a $66.00 price objective (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Jefferies Financial Group increased their price objective on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company lifted 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. Finally, Citigroup upped their target price on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.50.

Insiders Place Their Bets

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction on 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 directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the 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 of the company’s stock, valued at $3,507,464.31. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s 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 sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. 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.