State of New Jersey Common Pension Fund D Has $3.38 Million Holdings in Unum Group (NYSE:UNM)

State of New Jersey Common Pension Fund D lessened its position in Unum Group (NYSE:UNM - Free Report) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,820 shares of the financial services provider's stock after selling 9,074 shares during the period. State of New Jersey Common Pension Fund D's holdings in Unum Group were worth $3,377,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in UNM. ProShare Advisors LLC lifted its position in Unum Group by 89.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider's stock valued at $61,728,000 after acquiring an additional 571,436 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 worth $57,237,000 after buying an additional 432,240 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Unum Group by 105.8% in the first quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider's stock worth $20,263,000 after buying an additional 194,125 shares during the period. M&G Plc bought a new position in shares of Unum Group in the 1st quarter worth about $8,988,000. Finally, Neo Ivy Capital Management purchased a new stake in Unum Group during the 2nd quarter valued at $6,640,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Unum Group Trading Down 0.4 %

Shares of NYSE UNM traded down $0.27 during mid-day trading on Wednesday, reaching $71.04. The company had a trading volume of 882,848 shares, compared to its average volume of 1,248,758. The business's 50-day moving average is $61.20 and its 200-day moving average is $55.62. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 7.69, a price-to-earnings-growth ratio of 1.05 and a beta of 0.76. Unum Group has a 52 week low of $41.86 and a 52 week high of $71.44.

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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the previous year, the firm posted $1.94 earnings per share. The company's revenue was up 4.0% on a year-over-year basis. Equities analysts expect that Unum Group will post 8.52 earnings per share for the current year.

Unum Group announced that its Board of Directors has approved a share repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 10% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group's payout ratio is 18.18%.

Insider Buying and Selling

In related news, EVP Christopher W. Pyne sold 3,250 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total value of $227,565.00. Following the completion of the transaction, the executive vice president now directly owns 50,762 shares of the company's stock, valued at approximately $3,554,355.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total transaction of $104,340.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Christopher W. Pyne sold 3,250 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total transaction of $227,565.00. Following the transaction, the executive vice president now directly owns 50,762 shares in the company, valued at $3,554,355.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,545 shares of company stock worth $4,380,074. 0.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price target 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. Truist Financial upped their price target on Unum Group from $70.00 to $75.00 and gave the company a "buy" rating in a report on Friday, November 1st. Evercore ISI raised their target price on Unum Group from $59.00 to $66.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. UBS Group raised shares of Unum Group to a "hold" rating in a research note on Wednesday, October 9th. Finally, Bank of America boosted their price target on Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $66.09.

Unum Group 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.