Unum Group (NYSE:UNM) CEO Sells $3,727,369.10 in Stock

Unum Group (NYSE:UNM) 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 transaction of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Unum Group Stock Down 2.0 %

NYSE UNM traded down $1.12 during trading hours on Friday, reaching $54.14. 1,507,214 shares of the company’s stock were exchanged, compared to its average volume of 1,237,151. The company’s 50-day moving average is $53.49 and its two-hundred day moving average is $52.19. Unum Group has a one year low of $41.75 and a one year high of $58.17. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 0.81 and a beta of 0.77.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The business had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. During the same period in the prior year, the business earned $2.06 EPS. Unum Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. On average, analysts forecast that Unum Group will post 8.5 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 10% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were issued a dividend of $0.42 per share. This is an increase from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 annualized dividend and a yield of 3.10%. Unum Group’s dividend payout ratio (DPR) is currently 24.96%.

Analysts Set New Price Targets

A number of research firms recently issued reports on UNM. Jefferies Financial Group raised their target price on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Piper Sandler initiated coverage on Unum Group in a report on Thursday, July 11th. They set an “overweight” rating and a $57.00 price target for the company. Barclays started coverage on shares of Unum Group in a research report on Wednesday. They set an “overweight” rating and a $73.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of Unum Group from $64.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI boosted their target price on shares of Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Three 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, Unum Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.90.

Institutional Investors Weigh In On Unum Group

Several hedge funds have recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its position in shares of Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Unum Group in the second quarter worth $26,000. Salomon & Ludwin LLC bought a new position in shares of Unum Group in the first quarter worth $28,000. 1620 Investment Advisors Inc. bought a new position in shares of Unum Group in the second quarter worth $29,000. Finally, MCF Advisors LLC acquired a new stake in Unum Group in the first quarter valued at about $35,000. Institutional investors and hedge funds 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.