DekaBank Deutsche Girozentrale Sells 8,660 Shares of Unum Group (NYSE:UNM)

DekaBank Deutsche Girozentrale decreased its stake in shares of Unum Group (NYSE:UNM) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 250,712 shares of the financial services provider’s stock after selling 8,660 shares during the period. DekaBank Deutsche Girozentrale owned 0.13% of Unum Group worth $14,481,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in UNM. Nordea Investment Management AB raised its position in Unum Group by 51.7% in the 1st 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 last quarter. ProShare Advisors LLC boosted its stake in shares of 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 valued at $61,728,000 after purchasing an additional 571,436 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Unum Group by 62.9% during the second 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 last quarter. Wedge Capital Management L L P NC grew its holdings in Unum Group by 8.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock worth $44,609,000 after acquiring an additional 64,661 shares during the period. Finally, Sei Investments Co. raised its position in shares of Unum Group by 9.5% during the 2nd quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider’s stock valued at $21,127,000 after acquiring an additional 35,723 shares during the last quarter. Institutional investors own 86.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UNM. Citigroup lifted their price objective on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. UBS Group raised shares of Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Barclays cut their target price on shares of Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Bank of America raised their price objective on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Finally, Truist Financial raised their price objective on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Unum Group currently has a consensus rating of “Moderate Buy” and an average price target of $63.64.

Unum Group Stock Performance

Shares of UNM stock opened at $61.67 on Wednesday. The firm has a market cap of $11.68 billion, a PE ratio of 9.16, a P/E/G ratio of 0.91 and a beta of 0.77. Unum Group has a 12 month low of $41.75 and a 12 month high of $64.52. The company’s fifty day simple moving average is $58.24 and its 200-day simple moving average is $54.29. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33.

Unum Group (NYSE:UNM) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.06 EPS. Equities research analysts expect that Unum Group will post 8.49 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is 24.96%.

Unum Group announced that its board has authorized a stock buyback program on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 10% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, CEO Richard P. Mckenney sold 67,795 shares of the company’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 sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were 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 owns 64,821 shares in the company, valued at approximately $3,507,464.31. 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 this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

About Unum Group

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.