Donald Smith & CO. Inc. Reduces Stock Holdings in Unum Group (NYSE:UNM)

Donald Smith & CO. Inc. lessened its stake in Unum Group (NYSE:UNM - Free Report) by 6.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,921,010 shares of the financial services provider's stock after selling 187,291 shares during the quarter. Unum Group comprises 4.1% of Donald Smith & CO. Inc.'s investment portfolio, making the stock its 5th biggest position. Donald Smith & CO. Inc. owned 1.54% of Unum Group worth $173,625,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Versant Capital Management Inc increased its stake in shares of Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 394 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Unum Group in the second quarter valued at about $26,000. Salomon & Ludwin LLC acquired a new position in Unum Group during the first quarter worth about $28,000. 1620 Investment Advisors Inc. bought a new position in shares of Unum Group in the second quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Unum Group in the 3rd quarter valued at approximately $37,000. Institutional investors own 86.57% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on UNM. UBS Group upgraded shares of Unum Group to a "hold" rating in a research report on Wednesday, October 9th. Piper Sandler reiterated an "overweight" rating and set a $66.00 price target (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Citigroup raised their price objective on Unum Group from $62.00 to $69.00 and gave the company a "buy" rating in a report on Tuesday, July 23rd. Wells Fargo & Company increased their target price on Unum Group from $69.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price target on Unum Group from $65.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $65.64.

Insider Activity at Unum Group

In other news, CEO Richard P. Mckenney sold 67,795 shares of the firm's 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 sale, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the sale, the chief executive officer now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 64,821 shares in the company, valued at $3,507,464.31. This trade represents 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 owned by corporate insiders.

Unum Group Trading Up 4.4 %

Shares of UNM traded up $2.74 during trading hours on Wednesday, hitting $64.37. 3,448,906 shares of the stock were exchanged, compared to its average volume of 1,241,901. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $64.91. The business has a 50-day moving average of $58.40 and a 200-day moving average of $54.37. The firm has a market capitalization of $12.19 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping analysts' consensus estimates of $2.09 by $0.04. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business's revenue was up 4.0% compared to the same quarter last year. During the same period last year, the business posted $1.94 EPS. On average, research analysts expect that Unum Group will post 8.49 EPS for the current year.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.61%. Unum Group's dividend payout ratio is currently 24.96%.

Unum Group announced that its Board of Directors has initiated a stock buyback program on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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.