Sanctuary Advisors LLC Acquires Shares of 22,481 Unum Group (NYSE:UNM)

Sanctuary Advisors LLC acquired a new stake in Unum Group (NYSE:UNM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,481 shares of the financial services provider’s stock, valued at approximately $1,141,000.

A number of other institutional investors and hedge funds have also made changes to their positions in UNM. Versant Capital Management Inc boosted its holdings 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 worth $26,000 after buying an additional 394 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Unum Group during the second quarter worth about $26,000. Salomon & Ludwin LLC purchased a new stake in Unum Group during the first quarter worth about $28,000. 1620 Investment Advisors Inc. purchased a new stake in Unum Group during the second quarter worth about $29,000. Finally, MCF Advisors LLC purchased a new stake in Unum Group during the first quarter worth about $35,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Price Performance

Shares of UNM stock opened at $62.73 on Friday. The company has a market capitalization of $11.65 billion, a PE ratio of 9.23, a price-to-earnings-growth ratio of 0.91 and a beta of 0.77. The firm has a fifty day simple moving average of $56.15 and a 200-day simple moving average of $53.50. 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 twelve month low of $41.75 and a twelve month high of $63.25.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the prior year, the firm earned $2.06 earnings per share. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that Unum Group will post 8.47 earnings per share for the current fiscal year.

Unum Group announced that its board has authorized 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 buy up to 10% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.68%. Unum Group’s dividend payout ratio (DPR) is 24.71%.

Insider Transactions at Unum Group

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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the sale, the executive vice president now owns 64,821 shares of the company’s stock, valued at $3,507,464.31. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated 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 directly owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 price target (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Barclays reduced their price objective on shares of Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a research note on Tuesday. Bank of America upped their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday. Evercore ISI upped their price target on shares of Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.64.

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.