Van ECK Associates Corp Boosts Stock Holdings in Unum Group (NYSE:UNM)

Van ECK Associates Corp increased its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 40.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,076 shares of the financial services provider's stock after acquiring an additional 30,881 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Unum Group worth $6,855,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its holdings in shares of Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider's stock worth $26,000 after acquiring an additional 394 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Unum Group during the 2nd quarter worth $26,000. 1620 Investment Advisors Inc. acquired a new stake in Unum Group in the second quarter valued at about $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Unum Group during the third quarter worth about $37,000. Finally, Innealta Capital LLC acquired a new stake in shares of Unum Group in the 2nd quarter valued at approximately $40,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on UNM shares. Citigroup upped their price target on shares of Unum Group from $62.00 to $69.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. Truist Financial boosted their price target on Unum Group from $70.00 to $75.00 and gave the stock a "buy" rating in a report on Friday, November 1st. JPMorgan Chase & Co. reduced their target price on shares of Unum Group from $65.00 to $63.00 and set an "overweight" rating on the stock in a report on Thursday, October 3rd. Bank of America boosted their price objective on shares of Unum Group from $54.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, October 10th. Finally, Morgan Stanley upped their price target on Unum Group from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $66.09.

Unum Group Stock Up 0.1 %

UNM traded up $0.07 during midday trading on Friday, hitting $69.43. The company had a trading volume of 439,881 shares, compared to its average volume of 1,247,399. The stock's 50 day moving average price is $59.98 and its 200 day moving average price is $55.06. Unum Group has a 52 week low of $41.86 and a 52 week high of $70.40. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 7.51, a PEG ratio of 1.03 and a beta of 0.76. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32.

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, topping 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 for the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the business earned $1.94 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts anticipate that Unum Group will post 8.52 earnings per share for the current fiscal year.

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 $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group's payout ratio is currently 18.18%.

Unum Group announced that its Board of Directors has initiated a share buyback 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 purchase up to 10% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 5,000 shares of Unum Group stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $64.16, for a total transaction of $320,800.00. Following the completion of the transaction, the executive vice president now directly owns 58,741 shares in the company, valued at $3,768,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 1,065,868 shares of the company's stock, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of Unum Group stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total transaction of $320,800.00. Following the transaction, the executive vice president now directly owns 58,741 shares in the company, valued at $3,768,822.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 82,795 shares of company stock worth $4,589,269. 0.93% of the stock is owned by corporate insiders.

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.