Insider Selling: Unum Group (NYSE:UNM) CEO Sells 50,000 Shares of Stock

Unum Group (NYSE:UNM) CEO Richard P. Mckenney sold 50,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Unum Group Trading Up 4.4 %

Shares of NYSE:UNM opened at $81.34 on Thursday. The stock has a 50 day moving average of $75.20 and a 200 day moving average of $68.18. The company has a market cap of $14.85 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. Unum Group has a 12-month low of $48.38 and a 12-month high of $83.96. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

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

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders 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 2.07%. Unum Group’s payout ratio is presently 17.74%.

Unum Group declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on UNM shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $79.00 price objective (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their target price on shares of Unum Group from $90.00 to $103.00 and gave the stock an “outperform” rating in a research report on Friday, February 28th. Morgan Stanley increased their price target on Unum Group from $80.00 to $84.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $67.00 to $84.00 in a report on Thursday, November 14th. Finally, Piper Sandler increased their target price on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.62.

Hedge Funds Weigh In On Unum Group

A number of hedge funds have recently made changes to their positions in UNM. Charles Schwab Investment Management Inc. lifted its holdings in Unum Group by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock worth $326,950,000 after purchasing an additional 55,014 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock valued at $29,554,000 after buying an additional 156,380 shares during the last quarter. Blue Trust Inc. raised its position in shares of Unum Group by 44.1% during the fourth quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock valued at $1,205,000 after buying an additional 5,047 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Unum Group by 89.5% in the third quarter. Thrivent Financial for Lutherans now owns 111,831 shares of the financial services provider’s stock worth $6,647,000 after buying an additional 52,813 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Unum Group during the third quarter worth $1,074,000. 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.