Summit Global Investments Has $3.96 Million Stake in Unum Group (NYSE:UNM)

Summit Global Investments raised its stake in shares of Unum Group (NYSE:UNM - Free Report) by 262.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 66,633 shares of the financial services provider's stock after purchasing an additional 48,234 shares during the period. Summit Global Investments' holdings in Unum Group were worth $3,961,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of UNM. Versant Capital Management Inc boosted its stake 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 purchasing an additional 394 shares during the period. V Square Quantitative Management LLC bought a new position in Unum Group during the second quarter worth $26,000. 1620 Investment Advisors Inc. bought a new stake in Unum Group in the 2nd quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Unum Group during the 3rd quarter worth about $37,000. Finally, Innealta Capital LLC acquired a new position in shares of Unum Group during the second quarter valued at about $40,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the business's stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares of the company's stock, valued at $3,507,464.31. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,795 shares of company stock worth $4,589,269. Company insiders own 0.93% of the company's stock.

Analyst Ratings Changes

UNM has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Unum Group from $65.00 to $63.00 and set an "overweight" rating for the company in a report on Thursday, October 3rd. Morgan Stanley raised their target price 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. Bank of America boosted their price target on shares of Unum Group from $54.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, October 10th. Truist Financial raised their price objective on shares of Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Piper Sandler reissued 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. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $66.09.

Unum Group Trading Down 0.0 %

Shares of NYSE UNM traded down $0.01 during midday trading on Friday, hitting $69.35. The stock had a trading volume of 542,736 shares, compared to its average volume of 1,247,873. 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 $41.86 and a fifty-two week high of $70.40. The firm has a market cap of $12.66 billion, a P/E ratio of 7.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.76. The company's 50-day simple moving average is $59.98 and its 200 day simple moving average is $55.06.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the business posted $1.94 EPS. The firm's quarterly revenue was up 4.0% on a year-over-year basis. Research analysts anticipate that Unum Group will post 8.52 EPS for the current year.

Unum Group announced that its board has authorized a share repurchase plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be given a $0.42 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.42%. Unum Group's dividend payout ratio is presently 18.18%.

Unum Group Company 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.