Principal Financial Group Inc. reduced its stake in shares of Unum Group (NYSE:UNM - Free Report) by 33.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 397,292 shares of the financial services provider's stock after selling 197,056 shares during the quarter. Principal Financial Group Inc. owned 0.21% of Unum Group worth $23,615,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc boosted its position in Unum Group by 361.5% during the 2nd 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 position in shares of Unum Group during the second quarter valued at $26,000. 1620 Investment Advisors Inc. bought a new position in shares of Unum Group in the second quarter worth approximately $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Unum Group during the 3rd quarter valued at $37,000. Finally, Innealta Capital LLC purchased a new position in Unum Group in the 2nd quarter worth about $40,000. 86.57% of the stock is currently owned by institutional investors.
Unum Group Price Performance
NYSE UNM traded up $1.28 on Thursday, reaching $72.30. The company had a trading volume of 789,432 shares, compared to its average volume of 1,246,679. Unum Group has a 12 month low of $41.86 and a 12 month high of $72.96. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average price is $61.20 and its 200 day moving average price is $55.62. The stock has a market capitalization of $13.20 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76.
Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.22 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the prior year, the firm earned $1.94 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts predict that Unum Group will post 8.52 earnings per share for the current year.
Unum Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, October 25th. Unum Group's payout ratio is 18.18%.
Unum Group declared that its Board of Directors has approved a stock repurchase plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Wells Fargo & Company upped their price objective on Unum Group from $69.00 to $71.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on shares of Unum Group from $65.00 to $63.00 and set an "overweight" rating for the company in a report on Thursday, October 3rd. Bank of America lifted their price target on shares of Unum Group from $54.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Truist Financial raised their target price on Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Barclays boosted their price target on Unum Group from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $67.73.
Read Our Latest Report on Unum Group
Insider Buying and Selling
In related news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the sale, the chief accounting officer now directly owns 8,361 shares of the company's stock, valued at $581,591.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,065,868 shares of the company's stock, valued at $58,601,422.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the sale, the chief accounting officer now directly owns 8,361 shares of the company's stock, valued at approximately $581,591.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,545 shares of company stock worth $4,380,074. Corporate insiders own 0.93% of the company's stock.
About Unum Group
(
Free Report)
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.
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