Principal Street Partners LLC trimmed its position in shares of Unum Group (NYSE:UNM - Free Report) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 107,534 shares of the financial services provider's stock after selling 31,539 shares during the period. Unum Group comprises 1.0% of Principal Street Partners LLC's holdings, making the stock its 23rd biggest holding. Principal Street Partners LLC owned approximately 0.06% of Unum Group worth $6,363,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in shares of Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider's stock worth $26,000 after buying an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Unum Group during the second quarter valued at approximately $26,000. 1620 Investment Advisors Inc. acquired a new position in Unum Group during the second quarter worth about $29,000. Capital Performance Advisors LLP purchased a new position in Unum Group during the third quarter worth approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Unum Group during the 3rd quarter valued at about $37,000. Institutional investors own 86.57% of the company's stock.
Insider Buying and Selling at Unum Group
In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 completion of the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the firm's 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 completion of the sale, the chief accounting officer now owns 8,361 shares in the company, valued at $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,709 shares of company stock worth $10,956,914 over the last quarter. 0.93% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
UNM has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of 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. lowered their target price on shares of Unum Group from $65.00 to $63.00 and set an "overweight" rating for the company in a research note on Thursday, October 3rd. Barclays boosted their target price on Unum Group from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Piper Sandler reiterated an "overweight" rating and set a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Finally, Morgan Stanley increased their price target on shares of Unum Group from $62.00 to $64.00 and gave the company an "equal weight" 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 company's stock. According to data from MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and an average target price of $67.73.
Check Out Our Latest Research Report on Unum Group
Unum Group Stock Down 0.0 %
Unum Group stock traded down $0.01 during midday trading on Tuesday, hitting $76.20. 1,305,055 shares of the company were exchanged, compared to its average volume of 1,258,872. 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 fifty-two week low of $41.97 and a fifty-two week high of $76.72. The company's fifty day moving average price is $64.26 and its 200-day moving average price is $56.88. The company has a market cap of $13.92 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76.
Unum Group (NYSE:UNM - Get Free Report) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. Unum Group's quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.94 EPS. On average, research analysts predict that Unum Group will post 8.53 EPS for the current fiscal year.
Unum Group declared that its board has approved a stock repurchase 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 reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.
Unum Group Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Friday, October 25th. Unum Group's dividend payout ratio is currently 18.18%.
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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