Cubist Systematic Strategies LLC Sells 156,645 Shares of Unum Group (NYSE:UNM)

Cubist Systematic Strategies LLC cut its holdings in shares of Unum Group (NYSE:UNM) by 54.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 132,776 shares of the financial services provider’s stock after selling 156,645 shares during the period. Cubist Systematic Strategies LLC’s holdings in Unum Group were worth $6,786,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in UNM. Nordea Investment Management AB lifted its holdings in shares of Unum Group by 51.7% during the first quarter. Nordea Investment Management AB now owns 2,961,539 shares of the financial services provider’s stock worth $158,590,000 after purchasing an additional 1,008,776 shares during the period. ProShare Advisors LLC raised its position in Unum Group by 6,498.1% during the 1st quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock worth $34,145,000 after purchasing an additional 626,676 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Unum Group by 62.9% during 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 buying an additional 432,240 shares during the period. Vanguard Group Inc. grew its position 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 buying an additional 300,840 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Unum Group by 43.0% in the fourth quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock valued at $44,021,000 after buying an additional 292,917 shares during the period. 86.57% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler initiated coverage on Unum Group in a report on Thursday, July 11th. They issued an “overweight” rating and a $57.00 target price on the stock. Truist Financial upped their price objective on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company lifted their target price on shares of Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group lifted their price objective on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $62.90.

Insider Activity at Unum Group

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total transaction 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 approximately $3,507,464.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction 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 approximately $3,507,464.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Unum Group Stock Up 1.1 %

UNM stock opened at $58.12 on Friday. The stock’s 50 day simple moving average is $54.80 and its 200 day simple moving average is $52.85. The company has a market cap of $10.80 billion, a P/E ratio of 8.64, a price-to-earnings-growth ratio of 0.85 and a beta of 0.77. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $58.69.

Unum Group (NYSE:UNM) last issued its 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 company had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. Unum Group’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the business earned $2.06 EPS. On average, research analysts expect that Unum Group will post 8.48 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.89%. 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 currently 24.96%.

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

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.