National Bank of Canada FI boosted its position in shares of Unum Group (NYSE:UNM – Free Report) by 464.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,220 shares of the financial services provider’s stock after purchasing an additional 46,266 shares during the period. National Bank of Canada FI’s holdings in Unum Group were worth $2,760,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UNM. Raleigh Capital Management Inc. purchased a new stake in shares of Unum Group in the second quarter worth approximately $27,000. Nordea Investment Management AB lifted its position in shares of Unum Group by 122.4% during the second quarter. Nordea Investment Management AB now owns 1,174,537 shares of the financial services provider’s stock worth $55,920,000 after purchasing an additional 646,428 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Unum Group by 4.4% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 5,607 shares of the financial services provider’s stock worth $267,000 after purchasing an additional 234 shares during the last quarter. NewSquare Capital LLC increased its stake in Unum Group by 4.9% in the 2nd quarter. NewSquare Capital LLC now owns 211,184 shares of the financial services provider’s stock worth $10,073,000 after buying an additional 9,932 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in Unum Group by 45.6% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 108,882 shares of the financial services provider’s stock worth $5,194,000 after buying an additional 34,111 shares during the period. 79.37% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Unum Group
In related news, EVP Puneet Bhasin sold 8,188 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $42.39, for a total transaction of $347,089.32. Following the transaction, the executive vice president now directly owns 54,318 shares of the company’s stock, valued at approximately $2,302,540.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.94% of the company’s stock.
Unum Group Price Performance
UNM opened at $44.94 on Monday. The firm has a market capitalization of $8.77 billion, a PE ratio of 7.26, a price-to-earnings-growth ratio of 0.83 and a beta of 0.98. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50-day moving average is $44.75 and its two-hundred day moving average is $47.12. Unum Group has a 1 year low of $36.27 and a 1 year high of $52.15.
Unum Group (NYSE:UNM – Get Free Report) last issued its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $0.02. Unum Group had a net margin of 10.07% and a return on equity of 15.54%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the firm earned $1.51 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Research analysts anticipate that Unum Group will post 7.74 earnings per share for the current fiscal year.
Unum Group declared that its board has initiated a share buyback program on Tuesday, October 31st that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 5.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Unum Group Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Friday, October 27th were issued a dividend of $0.365 per share. The ex-dividend date of this dividend was Thursday, October 26th. This represents a $1.46 annualized dividend and a dividend yield of 3.25%. Unum Group’s dividend payout ratio is presently 23.59%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on UNM. Truist Financial reduced their target price on shares of Unum Group from $59.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. StockNews.com lowered Unum Group from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Financial Group increased their price target on Unum Group from $55.00 to $59.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. Finally, Morgan Stanley decreased their price objective on Unum Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, November 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and an average target price of $54.50.
Check Out Our Latest Report on Unum Group
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 and Corporate 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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