Amalgamated Bank Cuts Holdings in Unum Group (NYSE:UNM)

Amalgamated Bank lowered its position in Unum Group (NYSE:UNM) by 27.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,427 shares of the financial services provider’s stock after selling 31,400 shares during the period. Amalgamated Bank’s holdings in Unum Group were worth $4,899,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of UNM. V Square Quantitative Management LLC boosted its stake in Unum Group by 38.2% during the 3rd quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 194 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in Unum Group by 2.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 217 shares during the last quarter. Global Retirement Partners LLC grew its stake in Unum Group by 2.8% during the 3rd quarter. Global Retirement Partners LLC now owns 8,292 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 224 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Unum Group by 1.8% in the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 226 shares during the last quarter. Finally, XML Financial LLC lifted its stake in Unum Group by 1.3% in the 1st quarter. XML Financial LLC now owns 19,630 shares of the financial services provider’s stock worth $1,053,000 after purchasing an additional 250 shares in the last quarter. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Trading Down 1.2 %

Shares of NYSE UNM opened at $69.37 on Friday. The stock has a fifty day simple moving average of $59.98 and a 200-day simple moving average of $55.06. Unum Group has a twelve month low of $41.86 and a twelve month high of $70.40. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $12.67 billion, a PE ratio of 7.51, a PEG ratio of 0.94 and a beta of 0.76.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. On average, equities analysts forecast that Unum Group will post 8.52 earnings per share for the current year.

Unum Group declared that its board has approved a share repurchase plan on Tuesday, July 30th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Unum Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio is currently 18.18%.

Insider Activity

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total transaction of $320,800.00. Following the completion of the transaction, the executive vice president now directly owns 58,741 shares of the company’s stock, valued at $3,768,822.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction 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 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $64.16, for a total value of $320,800.00. Following the completion of the sale, the executive vice president now owns 58,741 shares in the company, valued at approximately $3,768,822.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,795 shares of company stock worth $4,589,269. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

UNM has been the subject of several recent research reports. Barclays increased their price target on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup raised their price objective on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Evercore ISI boosted their target price on shares of Unum Group from $59.00 to $66.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. 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 note 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.09.

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.