Unum Group (NYSE:UNM) CEO Sells $4,099,500.00 in Stock

Unum Group (NYSE:UNM - Get Free Report) CEO Richard P. Mckenney sold 50,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the sale, the chief executive officer now directly owns 980,637 shares of the company's stock, valued at approximately $80,402,427.63. This trade represents a 4.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Unum Group Price Performance

Unum Group stock traded down $0.41 during trading on Friday, reaching $79.05. The company had a trading volume of 1,274,457 shares, compared to its average volume of 1,147,109. The firm's 50-day simple moving average is $75.47 and its 200 day simple moving average is $68.35. Unum Group has a 1-year low of $48.38 and a 1-year high of $83.96. The firm has a market capitalization of $14.44 billion, a PE ratio of 8.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. As a group, equities research analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

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Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were paid a $0.42 dividend. The ex-dividend date was Friday, January 24th. This represents a $1.68 dividend on an annualized basis and a yield of 2.13%. Unum Group's dividend payout ratio is currently 17.74%.

Unum Group declared that its Board of Directors has authorized a share repurchase plan on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on UNM shares. Jefferies Financial Group increased their price target on shares of Unum Group from $91.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $79.00 price target (up from $74.00) on shares of Unum Group in a research report on Tuesday, January 7th. BMO Capital Markets increased their price target on shares of Unum Group from $95.00 to $102.00 and gave the company an "outperform" rating in a research report on Monday, March 3rd. Wells Fargo & Company increased their price target on shares of Unum Group from $81.00 to $91.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Finally, Barclays increased their price objective on shares of Unum Group from $76.00 to $85.00 and gave the company an "overweight" rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong 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 $86.62.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Total Wealth Planning & Management Inc. purchased a new position in Unum Group in the 4th quarter valued at $2,189,000. Jefferies Financial Group Inc. purchased a new position in Unum Group in the 4th quarter valued at $4,166,000. Sculati Wealth Management LLC lifted its holdings in Unum Group by 0.5% in the 4th quarter. Sculati Wealth Management LLC now owns 38,901 shares of the financial services provider's stock valued at $2,841,000 after purchasing an additional 200 shares in the last quarter. Leigh Baldwin & CO. LLC purchased a new position in Unum Group in the 4th quarter valued at $217,000. Finally, Challenger Wealth Management purchased a new position in Unum Group in the 4th quarter valued at $258,000. Hedge funds and other institutional investors own 86.57% of the company's stock.

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.