Bank of Montreal Can Sells 4,084 Shares of Unum Group (NYSE:UNM)

Bank of Montreal Can cut its position in Unum Group (NYSE:UNM) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,080 shares of the financial services provider’s stock after selling 4,084 shares during the quarter. Bank of Montreal Can’s holdings in Unum Group were worth $2,585,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Lane & Associates LLC boosted its stake in Unum Group by 12.1% in the 3rd quarter. Lane & Associates LLC now owns 5,217 shares of the financial services provider’s stock valued at $310,000 after purchasing an additional 564 shares during the period. Algert Global LLC boosted its stake in Unum Group by 69.5% in the 3rd quarter. Algert Global LLC now owns 236,264 shares of the financial services provider’s stock valued at $14,044,000 after purchasing an additional 96,916 shares during the period. Kingsview Wealth Management LLC boosted its stake in Unum Group by 1,020.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 55,725 shares of the financial services provider’s stock valued at $3,312,000 after purchasing an additional 50,751 shares during the period. Cerity Partners LLC boosted its stake in Unum Group by 57.0% in the 3rd quarter. Cerity Partners LLC now owns 71,667 shares of the financial services provider’s stock valued at $4,260,000 after purchasing an additional 26,010 shares during the period. Finally, Citigroup Inc. boosted its stake in Unum Group by 15.1% in the 3rd quarter. Citigroup Inc. now owns 62,491 shares of the financial services provider’s stock valued at $3,714,000 after purchasing an additional 8,186 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wells Fargo & Company boosted their price target on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Barclays upped their target price on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Bank of America upped their target price on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and set a $66.00 target price (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Finally, Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $67.00 to $84.00 in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.73.

Unum Group Price Performance

Shares of UNM stock opened at $76.08 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a twelve month low of $42.09 and a twelve month high of $77.63. The company has a market cap of $13.89 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.09 and a beta of 0.79. The business has a fifty day simple moving average of $67.33 and a 200 day simple moving average of $58.13.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same period in the prior year, the company earned $1.94 EPS. Unum Group’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were issued a $0.42 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.21%. Unum Group’s payout ratio is presently 18.18%.

Insiders Place Their Bets

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $64.16, for a total value of $320,800.00. Following the completion of the transaction, the executive vice president now owns 58,741 shares of the company’s stock, valued at $3,768,822.56. This represents a 7.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now directly owns 54,827 shares of the company’s stock, valued at approximately $4,217,292.84. The trade was a 15.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 107,914 shares of company stock valued at $7,998,745 in the last 90 days. Corporate insiders own 0.93% of the company’s stock.

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.