Evergreen Capital Management LLC Sells 739 Shares of Unum Group (NYSE:UNM)

Evergreen Capital Management LLC trimmed its position in shares of Unum Group (NYSE:UNM) by 5.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,573 shares of the financial services provider’s stock after selling 739 shares during the period. Evergreen Capital Management LLC’s holdings in Unum Group were worth $643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc raised its stake in Unum Group by 361.5% during the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 394 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Unum Group during the 2nd quarter valued at about $26,000. Salomon & Ludwin LLC purchased a new stake in shares of Unum Group during the 1st quarter valued at about $28,000. 1620 Investment Advisors Inc. bought a new position in shares of Unum Group in the 2nd quarter valued at about $29,000. Finally, MCF Advisors LLC bought a new stake in Unum Group during the first quarter worth approximately $35,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the transaction, 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 is accessible through this link. In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the sale, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Unum Group Price Performance

Unum Group stock opened at $57.49 on Thursday. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 8.54, a price-to-earnings-growth ratio of 0.86 and a beta of 0.77. The firm has a 50-day moving average of $54.71 and a two-hundred day moving average of $52.81. Unum Group has a 1 year low of $41.75 and a 1 year high of $58.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping the consensus estimate of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the business posted $2.06 EPS. Unum Group’s quarterly revenue was up 3.9% on a year-over-year basis. On average, research analysts forecast that Unum Group will post 8.48 earnings per share for the current year.

Unum Group declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were given a dividend of $0.42 per share. This is an increase from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 2.92%. Unum Group’s dividend payout ratio (DPR) is 24.96%.

Wall Street Analysts Forecast Growth

UNM has been the subject of several analyst reports. Truist Financial raised their price objective on Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays started coverage on Unum Group in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price target for the company. Evercore ISI boosted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Piper Sandler began coverage on shares of Unum Group in a report on Thursday, July 11th. They issued an “overweight” rating and a $57.00 target price for the company. Finally, Citigroup upped their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $62.90.

Unum Group Company 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.