Choreo LLC Invests $346,000 in Unum Group (NYSE:UNM)

Choreo LLC bought a new stake in Unum Group (NYSE:UNM) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,760 shares of the financial services provider’s stock, valued at approximately $346,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of UNM. Nordea Investment Management AB increased its holdings in shares of Unum Group by 51.7% during the 1st quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after buying an additional 1,008,776 shares during the last quarter. ProShare Advisors LLC increased its stake in Unum Group by 6,498.1% during the first quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock worth $34,145,000 after acquiring an additional 626,676 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Unum Group by 62.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after purchasing an additional 432,240 shares during the period. Vanguard Group Inc. lifted its stake in shares of Unum Group by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock valued at $931,109,000 after purchasing an additional 300,840 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Unum Group by 43.0% during the 4th quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock worth $44,021,000 after purchasing an additional 292,917 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Price Performance

UNM stock opened at $56.40 on Wednesday. The stock’s 50 day moving average is $54.14 and its two-hundred day moving average is $52.54. Unum Group has a 52-week low of $41.75 and a 52-week high of $58.17. The company has a market capitalization of $10.68 billion, a PE ratio of 8.38, a P/E/G ratio of 0.80 and a beta of 0.77. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.06 earnings per share. Analysts predict that Unum Group will post 8.5 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio is 24.96%.

Unum Group declared that its board has approved a stock buyback plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently commented on UNM shares. Barclays began coverage on shares of Unum Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price target on the stock. Piper Sandler assumed coverage on shares of Unum Group in a report on Thursday, July 11th. They set an “overweight” rating and a $57.00 target price on the stock. Truist Financial increased their price target on Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Citigroup boosted their price objective on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Wells Fargo & Company upped their target price on Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $62.90.

Insider Transactions at Unum Group

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the sale, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at $3,507,464.31. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

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 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.