Amalgamated Bank Sells 31,400 Shares of Unum Group (NYSE:UNM)

Amalgamated Bank decreased its position in Unum Group (NYSE:UNM - Free Report) by 27.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 82,427 shares of the financial services provider's stock after selling 31,400 shares during the quarter. Amalgamated Bank's holdings in Unum Group were worth $4,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ProShare Advisors LLC grew its position in shares of Unum Group by 89.8% in the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider's stock valued at $61,728,000 after purchasing an additional 571,436 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Unum Group by 62.9% in the second quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider's stock valued at $57,237,000 after purchasing an additional 432,240 shares during the last quarter. Wedge Capital Management L L P NC grew its position in shares of Unum Group by 8.0% in the second quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider's stock valued at $44,609,000 after purchasing an additional 64,661 shares during the last quarter. Sei Investments Co. grew its position in shares of Unum Group by 9.5% in the second quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider's stock valued at $21,127,000 after purchasing an additional 35,723 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in Unum Group by 20.5% during the first quarter. Lazard Asset Management LLC now owns 411,467 shares of the financial services provider's stock worth $22,078,000 after buying an additional 69,928 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

Insiders Place Their Bets

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction of $541,100.00. Following the transaction, the executive vice president now directly owns 64,821 shares of the company's stock, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated 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 transaction, the executive vice president now directly owns 64,821 shares of the company's stock, valued at approximately $3,507,464.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,065,868 shares of the company's stock, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,795 shares of company stock valued at $4,589,269. 0.93% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on UNM shares. JPMorgan Chase & Co. lowered their price objective on Unum Group from $65.00 to $63.00 and set an "overweight" rating on the stock in a research note on Thursday, October 3rd. Evercore ISI raised their price objective on Unum Group from $59.00 to $66.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their price objective on Unum Group from $69.00 to $71.00 and gave the stock an "overweight" rating in a research note on Thursday, October 10th. Barclays raised their price objective on Unum Group from $72.00 to $74.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price objective on Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.09.

Unum Group Price Performance

Shares of NYSE UNM traded up $0.06 during mid-day trading on Friday, hitting $69.42. 159,724 shares of the stock traded hands, compared to its average volume of 1,246,108. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a twelve month low of $41.86 and a twelve month high of $70.40. The company has a market cap of $12.68 billion, a PE ratio of 7.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.76. The firm has a 50 day simple moving average of $59.98 and a two-hundred day simple moving average of $55.06.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter last year, the business posted $1.94 EPS. Unum Group's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that Unum Group will post 8.52 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has approved a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group's dividend payout ratio (DPR) is 18.18%.

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.