Brown Brothers Harriman & Co. Has $237,000 Stake in Unum Group (NYSE:UNM)

Brown Brothers Harriman & Co. boosted its position in shares of Unum Group (NYSE:UNM) by 694.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,642 shares of the financial services provider’s stock after acquiring an additional 4,058 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Unum Group were worth $237,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in UNM. GAMMA Investing LLC increased its stake in Unum Group by 7.1% during the 1st quarter. GAMMA Investing LLC now owns 3,071 shares of the financial services provider’s stock worth $165,000 after acquiring an additional 204 shares during the period. QRG Capital Management Inc. increased its position in shares of Unum Group by 1.8% in the second quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 226 shares during the period. FinTrust Capital Advisors LLC raised its position in shares of Unum Group by 20.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 1,457 shares of the financial services provider’s stock valued at $78,000 after buying an additional 247 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Unum Group by 2.8% during the 4th quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock worth $416,000 after acquiring an additional 249 shares in the last quarter. Finally, XML Financial LLC increased its stake in Unum Group by 1.3% in the first quarter. XML Financial LLC now owns 19,630 shares of the financial services provider’s stock valued at $1,053,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Transactions at Unum Group

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 value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value 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 $58,601,422.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 64,821 shares in the company, valued at $3,507,464.31. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Stock Down 0.3 %

Shares of NYSE:UNM opened at $56.23 on Thursday. The business has a fifty day simple moving average of $54.24 and a 200 day simple moving average of $52.57. Unum Group has a 12-month low of $41.75 and a 12-month high of $58.17. The firm has a market cap of $10.45 billion, a P/E ratio of 8.36, a P/E/G ratio of 0.83 and a beta of 0.77. 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 issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period last year, the company earned $2.06 earnings per share. The firm’s revenue was up 3.9% compared to the same quarter last year. Analysts predict that Unum Group will post 8.5 earnings per share for the current year.

Unum Group declared that its Board of Directors has authorized a share repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in outstanding 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 typically a sign that the company’s leadership believes its shares are undervalued.

Unum Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were paid a $0.42 dividend. This is a positive change from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, July 26th. Unum Group’s dividend payout ratio is currently 24.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on UNM shares. Truist Financial upped their target price on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Evercore ISI upped their price objective 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. Jefferies Financial Group raised 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 upped their price target on shares of Unum Group from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Finally, Citigroup raised their price objective on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Unum Group presently has an average rating of “Moderate Buy” and an average target price of $62.90.

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.