Auxier Asset Management Purchases 429 Shares of Unum Group (NYSE:UNM)

Auxier Asset Management grew its position in shares of Unum Group (NYSE:UNM) by 0.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 59,126 shares of the financial services provider’s stock after acquiring an additional 429 shares during the quarter. Auxier Asset Management’s holdings in Unum Group were worth $3,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc grew its position in Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Unum Group during the 2nd quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new stake in Unum Group during the 1st quarter valued at $28,000. 1620 Investment Advisors Inc. purchased a new stake in Unum Group during the 2nd quarter valued at $29,000. Finally, MCF Advisors LLC bought a new stake in Unum Group in the first quarter worth $35,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction 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 transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $3,507,464.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The disclosure for this sale can be found here. 0.93% of the stock is owned by company insiders.

Unum Group Trading Up 0.8 %

Shares of NYSE UNM opened at $57.34 on Friday. Unum Group has a twelve month low of $41.75 and a twelve month high of $58.17. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $54.46 and a two-hundred day simple moving average of $52.65. The firm has a market cap of $10.65 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.83 and a beta of 0.77.

Unum Group (NYSE:UNM) last released its quarterly earnings data 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 return on equity of 15.55% and a net margin of 10.40%. The firm had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. During the same period in the previous year, the company posted $2.06 earnings per share. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. Analysts expect that Unum Group will post 8.5 earnings per share for the current fiscal year.

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

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were paid a $0.42 dividend. This is an increase from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 2.93%. Unum Group’s payout ratio is 24.96%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays initiated coverage on shares of Unum Group in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 target price on the stock. Jefferies Financial Group increased their price objective on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Citigroup upped their target price on Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Truist Financial raised their price target on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Evercore ISI upped their price objective on Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Unum Group has a consensus rating of “Moderate Buy” and a consensus 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.