Algert Global LLC Acquires 17,654 Shares of Unum Group (NYSE:UNM)

Algert Global LLC boosted its holdings in Unum Group (NYSE:UNM) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 139,348 shares of the financial services provider’s stock after purchasing an additional 17,654 shares during the quarter. Algert Global LLC owned about 0.07% of Unum Group worth $7,122,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of 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 acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Unum Group during the second quarter valued at approximately $26,000. Salomon & Ludwin LLC bought a new stake in shares of Unum Group during the first quarter valued at approximately $28,000. 1620 Investment Advisors Inc. bought a new stake in shares of Unum Group during the second quarter valued at approximately $29,000. Finally, MCF Advisors LLC bought a new stake in shares of Unum Group during the first quarter valued at approximately $35,000. 86.57% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

UNM has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Citigroup boosted their price objective on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Evercore ISI lifted their target price on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Barclays began coverage on Unum Group in a research report on Wednesday, September 4th. They set an “overweight” rating and a $73.00 target price on the stock. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $66.00 target price (up previously from $64.00) on shares of Unum Group in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.80.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’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 sale, 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 filing with the SEC, which is accessible through the SEC website. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’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 transaction, the executive vice president now directly owns 64,821 shares in the company, valued at approximately $3,507,464.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Stock Up 0.9 %

UNM stock opened at $58.65 on Friday. The stock’s fifty day simple moving average is $54.90 and its two-hundred day simple moving average is $52.91. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a 1-year low of $41.75 and a 1-year high of $59.01. The stock has a market cap of $10.90 billion, a P/E ratio of 8.71, a P/E/G ratio of 0.85 and a beta of 0.77.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.23 billion. During the same quarter in the prior year, the firm earned $2.06 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts expect that Unum Group will post 8.48 EPS for the current year.

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, July 26th. This is a boost from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio is currently 24.96%.

Unum Group declared that its board has initiated a share repurchase program on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

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.