Toronto Dominion Bank Has $1.72 Million Stake in Unum Group (NYSE:UNM)

Toronto Dominion Bank boosted its holdings in Unum Group (NYSE:UNM) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,600 shares of the financial services provider’s stock after purchasing an additional 1,400 shares during the quarter. Toronto Dominion Bank’s holdings in Unum Group were worth $1,717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. ProShare Advisors LLC raised its stake in Unum Group by 89.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock worth $61,728,000 after purchasing an additional 571,436 shares in the last quarter. Auxier Asset Management raised its position in shares of Unum Group by 0.7% in the 2nd quarter. Auxier Asset Management now owns 59,126 shares of the financial services provider’s stock valued at $3,022,000 after buying an additional 429 shares in the last quarter. Ensign Peak Advisors Inc raised its position in shares of Unum Group by 3.0% in the 2nd quarter. Ensign Peak Advisors Inc now owns 80,041 shares of the financial services provider’s stock valued at $4,091,000 after buying an additional 2,350 shares in the last quarter. Summit Trail Advisors LLC raised its position in shares of Unum Group by 7.9% in the 2nd quarter. Summit Trail Advisors LLC now owns 4,888 shares of the financial services provider’s stock valued at $250,000 after buying an additional 357 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Unum Group by 9.5% in the 2nd quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider’s stock valued at $21,127,000 after buying an additional 35,723 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Analyst Ratings Changes

UNM has been the subject of several analyst reports. Piper Sandler restated an “overweight” rating and issued a $66.00 target price (up from $64.00) on shares of Unum Group in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Wells Fargo & Company boosted their target price on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Citigroup lifted 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. Finally, Truist Financial lifted their price target on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.80.

Insiders Place Their Bets

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

Unum Group Trading Up 0.9 %

UNM opened at $58.65 on Monday. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $59.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 0.85 and a beta of 0.77. The company’s 50 day moving average price is $54.90 and its two-hundred day moving average price is $52.93.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the firm posted $2.06 EPS. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, research analysts predict that Unum Group will post 8.48 earnings per share for the current year.

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 issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.86%. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, July 26th. Unum Group’s payout ratio is presently 24.96%.

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