Vident Investment Advisory LLC lifted its position in shares of Unum Group (NYSE:UNM) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,390 shares of the financial services provider’s stock after purchasing an additional 1,910 shares during the quarter. Vident Investment Advisory LLC’s holdings in Unum Group were worth $2,381,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in UNM. Nomura Asset Management Co. Ltd. raised its holdings in shares of Unum Group by 4.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 36,450 shares of the financial services provider’s stock worth $1,736,000 after acquiring an additional 1,463 shares during the period. LS Investment Advisors LLC raised its holdings in shares of Unum Group by 13.1% during the second quarter. LS Investment Advisors LLC now owns 13,902 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,607 shares during the period. Signaturefd LLC raised its holdings in shares of Unum Group by 95.1% during the second quarter. Signaturefd LLC now owns 3,313 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 1,615 shares during the period. Montecito Bank & Trust raised its holdings in shares of Unum Group by 25.8% during the second quarter. Montecito Bank & Trust now owns 8,516 shares of the financial services provider’s stock worth $315,000 after acquiring an additional 1,745 shares during the period. Finally, Assetmark Inc. raised its holdings in shares of Unum Group by 17.9% during the second quarter. Assetmark Inc. now owns 11,885 shares of the financial services provider’s stock worth $440,000 after acquiring an additional 1,803 shares during the period. 91.17% of the stock is currently owned by institutional investors.
Shares of UNM stock opened at $36.90 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 0.32. Unum Group has a 1 year low of $34.57 and a 1 year high of $58.73. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 7.39, a price-to-earnings-growth ratio of 0.77 and a beta of 1.37.
Unum Group (NYSE:UNM) last issued its quarterly earnings results on Monday, July 30th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.03. Unum Group had a net margin of 9.42% and a return on equity of 11.19%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the business earned $1.05 EPS. The company’s revenue was up 2.8% compared to the same quarter last year. research analysts expect that Unum Group will post 5.1 EPS for the current year.
Unum Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 24th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, July 30th were paid a $0.26 dividend. This is a positive change from Unum Group’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a yield of 2.82%. The ex-dividend date was Friday, July 27th. Unum Group’s payout ratio is presently 24.24%.
In other Unum Group news, EVP Breege A. Farrell sold 7,500 shares of Unum Group stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $40.66, for a total value of $304,950.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on UNM shares. Zacks Investment Research upgraded shares of Unum Group from a “sell” rating to a “hold” rating in a report on Monday, July 2nd. Citigroup set a $44.00 price objective on shares of Unum Group and gave the stock a “hold” rating in a report on Tuesday, June 12th. Wells Fargo & Co set a $53.00 price objective on shares of Unum Group and gave the stock a “hold” rating in a report on Thursday, May 24th. Barclays dropped their price objective on shares of Unum Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, July 9th. Finally, ValuEngine lowered shares of Unum Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, May 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $53.31.
Unum Group Profile
Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.
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