AlphaCore Capital LLC Buys 3,331 Shares of Unum Group (NYSE:UNM)

AlphaCore Capital LLC boosted its stake in Unum Group (NYSE:UNM) by 3.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 99,274 shares of the financial services provider’s stock after buying an additional 3,331 shares during the quarter. Unum Group accounts for approximately 1.3% of AlphaCore Capital LLC’s portfolio, making the stock its 14th biggest position. AlphaCore Capital LLC’s holdings in Unum Group were worth $5,901,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in Unum Group during the first quarter worth about $1,130,000. Tidal Investments LLC boosted its position in Unum Group by 80.7% in the first quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock worth $3,436,000 after purchasing an additional 28,580 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in Unum Group by 8.0% in 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 purchasing an additional 64,661 shares during the period. Cetera Advisors LLC purchased a new position in shares of Unum Group in the 1st quarter worth about $703,000. Finally, Van ECK Associates Corp bought a new position in Unum Group during the second quarter valued at about $3,945,000. 86.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $64.16, for a total transaction of $320,800.00. Following the transaction, the executive vice president now owns 58,741 shares of the company’s stock, valued at approximately $3,768,822.56. This trade represents a 7.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The trade was a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,844 shares of company stock worth $5,411,032. Corporate insiders own 0.93% of the company’s stock.

Unum Group Price Performance

Unum Group stock opened at $75.63 on Friday. The stock has a market cap of $13.81 billion, a price-to-earnings ratio of 8.19, a PEG ratio of 1.06 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. The business has a 50-day simple moving average of $63.02 and a 200 day simple moving average of $56.36. Unum Group has a 52 week low of $41.97 and a 52 week high of $75.93.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. During the same period in the prior year, the business earned $1.94 earnings per share. Unum Group’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, research analysts forecast that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group declared that its board has approved a stock buyback program on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 10% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were given a $0.42 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.22%. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

Analyst Upgrades and Downgrades

UNM has been the subject of a number of research reports. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and increased their target price for the company from $67.00 to $84.00 in a research report on Thursday, November 14th. Truist Financial upped their price target on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. UBS Group upgraded Unum Group to a “hold” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. cut their target price on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Unum Group has an average rating of “Moderate Buy” and a consensus target price of $67.73.

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.