State Street Corp Cuts Stock Holdings in Unum Group (NYSE:UNM)

State Street Corp lessened its stake in shares of Unum Group (NYSE:UNM - Free Report) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,972,177 shares of the financial services provider's stock after selling 117,341 shares during the quarter. State Street Corp owned approximately 3.27% of Unum Group worth $354,986,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wedge Capital Management L L P NC boosted its position in Unum Group by 8.0% during the 2nd 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 acquiring an additional 64,661 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Unum Group in the 1st quarter worth $703,000. Van ECK Associates Corp acquired a new stake in shares of Unum Group in the 2nd quarter worth $3,945,000. My Legacy Advisors LLC acquired a new stake in shares of Unum Group in the 2nd quarter worth $473,000. Finally, CoreCap Advisors LLC acquired a new stake in shares of Unum Group in the 2nd quarter worth $2,007,000. Institutional investors own 86.57% of the company's stock.

Insider Buying and Selling

In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total transaction of $769,200.00. Following the completion of the sale, the executive vice president now owns 54,827 shares in the company, valued at approximately $4,217,292.84. This represents a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $64.16, for a total transaction of $320,800.00. Following the sale, the executive vice president now owns 58,741 shares of the company's stock, valued at $3,768,822.56. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 107,914 shares of company stock worth $7,998,745. Corporate insiders own 0.93% of the company's stock.

Analyst Ratings Changes

UNM has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Unum Group from $65.00 to $63.00 and set an "overweight" rating for the company in a research report on Thursday, October 3rd. Morgan Stanley raised their price objective on Unum Group from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Truist Financial raised their target price on Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Piper Sandler restated an "overweight" rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Finally, UBS Group upgraded Unum Group to a "hold" rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.64.

Unum Group Trading Down 1.6 %

UNM traded down $1.21 during trading hours on Tuesday, reaching $72.84. The company's stock had a trading volume of 1,376,880 shares, compared to its average volume of 1,253,726. Unum Group has a fifty-two week low of $43.04 and a fifty-two week high of $77.63. The stock has a market cap of $13.30 billion, a PE ratio of 7.89, a P/E/G ratio of 1.07 and a beta of 0.79. The business's 50-day moving average is $67.95 and its 200-day moving average is $58.52. 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 (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. 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 analyst estimates of $3.26 billion. During the same quarter in the previous year, the company earned $1.94 earnings per share. The firm's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.31%. Unum Group's payout ratio is currently 18.18%.

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.