Private Advisor Group LLC Sells 412 Shares of Unum Group (NYSE:UNM)

Private Advisor Group LLC lessened its stake in shares of Unum Group (NYSE:UNM) by 1.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,069 shares of the financial services provider’s stock after selling 412 shares during the quarter. Private Advisor Group LLC’s holdings in Unum Group were worth $1,728,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of UNM. Nordea Investment Management AB lifted its holdings in shares of Unum Group by 51.7% during the first quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after purchasing an additional 1,008,776 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Unum Group by 6,498.1% during the first quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock worth $34,145,000 after purchasing an additional 626,676 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Unum Group by 62.9% during the second quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after purchasing an additional 432,240 shares during the period. Sei Investments Co. lifted its holdings in shares of Unum Group by 105.8% during the first quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider’s stock worth $20,263,000 after purchasing an additional 194,125 shares during the period. Finally, M&G Plc acquired a new position in shares of Unum Group during the first quarter worth $8,988,000. Institutional investors own 86.57% of the company’s stock.

Insider Transactions at Unum Group

In other 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 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 $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’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 completion of the sale, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Analyst Ratings Changes

UNM has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Citigroup boosted their target price on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Piper Sandler restated an “overweight” rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Barclays boosted their target price on shares of Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Evercore ISI boosted their target price on shares of Unum Group from $59.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Unum Group has a consensus rating of “Moderate Buy” and a consensus price target of $65.64.

Unum Group Price Performance

Shares of NYSE UNM opened at $64.37 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. The firm’s 50-day moving average price is $58.40 and its 200-day moving average price is $54.37. The firm has a market capitalization of $12.19 billion, a P/E ratio of 9.55, a P/E/G ratio of 0.91 and a beta of 0.77. Unum Group has a 1-year low of $41.75 and a 1-year high of $64.91.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.09 by $0.04. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. Equities research analysts anticipate that Unum Group will post 8.49 earnings per share for the current fiscal year.

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

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, October 25th. Unum Group’s payout ratio is presently 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.