Insider Selling: Unum Group (NYSE:UNM) CEO Sells 58,865 Shares of Stock

Unum Group (NYSE:UNM) CEO Richard P. Mckenney sold 58,865 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $75.39, for a total transaction of $4,437,832.35. Following the sale, the chief executive officer now owns 1,007,003 shares of the company’s stock, valued at approximately $75,917,956.17. This represents a 5.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Unum Group Stock Performance

NYSE UNM opened at $75.84 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 $41.97 and a twelve month high of $76.31. The business has a 50-day moving average price of $63.86 and a 200-day moving average price of $56.66. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76.

Unum Group (NYSE:UNM) last posted its quarterly earnings results 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. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.94 EPS. As a group, equities research analysts predict that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group declared that its board has approved a stock repurchase plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Unum Group Announces Dividend

The business also recently declared 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 2.22%. Unum Group’s dividend payout ratio is currently 18.18%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on UNM shares. Piper Sandler reissued an “overweight” rating and issued a $66.00 target price (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Barclays raised their price objective on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. UBS Group raised shares of Unum Group to a “hold” rating in a report on Wednesday, October 9th. Bank of America boosted their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Finally, Truist Financial raised their target price on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Coldstream Capital Management Inc. increased its holdings in shares of Unum Group by 10.6% in the third quarter. Coldstream Capital Management Inc. now owns 12,778 shares of the financial services provider’s stock worth $775,000 after purchasing an additional 1,221 shares during the last quarter. Vestcor Inc grew its holdings in Unum Group by 156.2% during the 3rd quarter. Vestcor Inc now owns 88,728 shares of the financial services provider’s stock valued at $5,274,000 after buying an additional 54,095 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Unum Group by 35.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 18,935 shares of the financial services provider’s stock worth $1,125,000 after acquiring an additional 4,931 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of Unum Group by 5.2% during the 3rd quarter. MML Investors Services LLC now owns 17,288 shares of the financial services provider’s stock worth $1,028,000 after acquiring an additional 859 shares in the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Unum Group by 94.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 9,109 shares of the financial services provider’s stock worth $541,000 after acquiring an additional 4,425 shares in the last quarter. Institutional investors own 86.57% of the company’s stock.

Unum Group Company 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.