Unum Group (NYSE:UNM) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Unum Group (NYSE:UNM) by 435.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,208 shares of the financial services provider’s stock after buying an additional 27,008 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Unum Group were worth $1,974,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of UNM. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Unum Group by 24.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 140,686 shares of the financial services provider’s stock worth $7,577,000 after buying an additional 27,826 shares during the last quarter. Covestor Ltd lifted its stake in Unum Group by 27.4% in the 1st quarter. Covestor Ltd now owns 2,006 shares of the financial services provider’s stock worth $108,000 after purchasing an additional 431 shares in the last quarter. Seven Eight Capital LP purchased a new position in Unum Group in the 1st quarter worth approximately $365,000. Lake Street Advisors Group LLC purchased a new position in Unum Group in the 1st quarter worth approximately $247,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Unum Group by 4.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 162,545 shares of the financial services provider’s stock worth $8,725,000 after purchasing an additional 6,674 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Hanley Ronald P. O sold 14,299 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $72.10, for a total value of $1,030,957.90. Following the completion of the sale, the director now directly owns 38,819 shares of the company’s stock, valued at $2,798,849.90. The trade was a 26.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction on 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 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 trade represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,844 shares of company stock worth $5,411,032. Corporate insiders own 0.93% of the company’s stock.

Unum Group Stock Performance

NYSE:UNM opened at $72.58 on Tuesday. The company has a fifty day simple moving average of $61.92 and a two-hundred day simple moving average of $55.95. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 7.85, a price-to-earnings-growth ratio of 1.07 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 has a 52 week low of $41.97 and a 52 week high of $73.62.

Unum Group (NYSE:UNM) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 earnings per share. As a group, equities analysts anticipate that Unum Group will post 8.53 earnings per share for the current fiscal year.

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

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.31%. Unum Group’s payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on UNM shares. Citigroup raised their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley lifted their price target on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted 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. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price target (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Finally, JPMorgan Chase & Co. cut their target price on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

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.