Unum Group $UNM Stock Bought by Retirement Systems of Alabama

Retirement Systems of Alabama lifted its position in shares of Unum Group (NYSE:UNM) by 3.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 284,930 shares of the financial services provider’s stock after purchasing an additional 9,596 shares during the quarter. Retirement Systems of Alabama’s holdings in Unum Group were worth $24,997,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Fulcrum Asset Management LLP purchased a new position in shares of Unum Group during the third quarter worth approximately $626,000. Ethic Inc. lifted its holdings in shares of Unum Group by 26.5% in the 3rd quarter. Ethic Inc. now owns 42,461 shares of the financial services provider’s stock worth $3,725,000 after acquiring an additional 8,886 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its holdings in shares of Unum Group by 3.4% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 9,413 shares of the financial services provider’s stock worth $826,000 after acquiring an additional 308 shares during the last quarter. Heritage Family Offices LLP purchased a new stake in shares of Unum Group in the 3rd quarter valued at $94,000. Finally, Syverson Strege & Co boosted its stake in shares of Unum Group by 14.4% in the 3rd quarter. Syverson Strege & Co now owns 2,960 shares of the financial services provider’s stock valued at $260,000 after purchasing an additional 372 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.

Unum Group Stock Performance

Shares of UNM stock opened at $81.30 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 0.34. Unum Group has a fifty-two week low of $69.02 and a fifty-two week high of $96.77. The stock has a 50 day moving average price of $90.62 and a two-hundred day moving average price of $84.11. The company has a market capitalization of $12.60 billion, a P/E ratio of 9.65, a PEG ratio of 0.87 and a beta of 0.25.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, November 3rd. The financial services provider reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.04. Unum Group had a return on equity of 12.57% and a net margin of 1.94%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. Analysts expect that Unum Group will post 8.37 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be issued a dividend of $0.5050 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, October 30th. Unum Group’s dividend payout ratio is currently 143.26%.

Unum Group declared that its Board of Directors has approved a stock repurchase plan on Wednesday, August 26th that permits the company to repurchase $1 billion in shares. This buyback authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Share buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research firms recently commented on UNM. Truist Financial reduced their target price on shares of Unum Group from $96.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 5th. Morgan Stanley lowered their price target on shares of Unum Group from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Unum Group from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $98.00 to $90.00 in a research note on Monday. Barclays cut their price target on shares of Unum Group from $109.00 to $101.00 and set an “overweight” rating for the company in a research report on Wednesday, November 4th. Finally, Keefe, Bruyette & Woods reduced their price objective on Unum Group from $108.00 to $97.00 and set an “outperform” rating on the stock in a research note on Thursday, November 5th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $95.67.

Insider Activity at Unum Group

In other Unum Group news, Director Timothy Keaney sold 4,300 shares of the firm’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $94.02, for a total value of $404,286.00. Following the sale, the director owned 36,502 shares of the company’s stock, valued at $3,431,918.04. This trade represents a 10.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Lisa G. Iglesias sold 4,000 shares of the business’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total transaction of $377,760.00. Following the completion of the transaction, the executive vice president owned 25,453 shares in the company, valued at $2,403,781.32. The trade was a 13.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 10,488 shares of company stock worth $988,396 in the last three months. 1.00% of the stock is owned by insiders.

Unum Group Company Profile

Unum Group is an insurance holding company that provides employee benefits and related services, primarily to employers and their workers. Its offerings include group disability and life insurance, accident and critical illness coverage, and services that help employers manage employee leave and workplace absence. Through its Unum and Colonial Life businesses, the company also provides voluntary benefits that employees can elect through their workplaces. In the United Kingdom, Unum offers workplace benefits including income protection, life insurance and critical illness coverage.