Park Avenue Securities LLC Reduces Stock Holdings in Unum Group (NYSE:UNM)

Park Avenue Securities LLC trimmed its holdings in shares of Unum Group (NYSE:UNM) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,357 shares of the financial services provider’s stock after selling 949 shares during the quarter. Park Avenue Securities LLC’s holdings in Unum Group were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Unum Group by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 20,590,655 shares of the financial services provider’s stock worth $931,109,000 after buying an additional 300,840 shares during the last quarter. Nordea Investment Management AB grew its stake in Unum Group by 51.7% during 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 buying an additional 1,008,776 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Unum Group by 16.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,017,367 shares of the financial services provider’s stock worth $91,225,000 after acquiring an additional 291,757 shares during the period. ProShare Advisors LLC lifted its position in Unum Group by 89.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock worth $61,728,000 after acquiring an additional 571,436 shares during the period. Finally, Victory Capital Management Inc. lifted its position in Unum Group by 62.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after acquiring an additional 432,240 shares during the period. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Price Performance

Shares of Unum Group stock opened at $61.68 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33. Unum Group has a twelve month low of $41.75 and a twelve month high of $62.21. The business has a 50-day moving average price of $55.98 and a 200 day moving average price of $53.43. 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 (NYSE:UNM) last announced its quarterly earnings results 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 analyst estimates of $3.23 billion. During the same quarter in the previous year, the business earned $2.06 EPS. Unum Group’s revenue for the quarter was up 3.9% compared to the same quarter last year. Sell-side analysts predict that Unum Group will post 8.48 earnings per share for the current fiscal year.

Unum Group announced that its board has initiated a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 10% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial lifted their price target on Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Wells Fargo & Company lifted their price target on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. lowered their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Barclays decreased their price objective on Unum Group from $73.00 to $72.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Bank of America boosted their price objective on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.64.

Insider Activity at Unum Group

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