Pathstone Holdings LLC Lowers Stock Position in Unum Group (NYSE:UNM)

Pathstone Holdings LLC reduced its position in Unum Group (NYSE:UNM) by 0.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,798 shares of the financial services provider’s stock after selling 522 shares during the quarter. Pathstone Holdings LLC’s holdings in Unum Group were worth $3,911,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in shares of Unum Group by 89.8% in the 2nd quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock worth $61,728,000 after purchasing an additional 571,436 shares during the period. Victory Capital Management Inc. lifted its position in Unum Group by 62.9% during the second quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock valued at $57,237,000 after buying an additional 432,240 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Unum Group during the second quarter worth approximately $6,640,000. Hsbc Holdings PLC increased its position in shares of Unum Group by 106.4% in the second quarter. Hsbc Holdings PLC now owns 233,881 shares of the financial services provider’s stock worth $11,915,000 after acquiring an additional 120,559 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Unum Group by 183.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 170,100 shares of the financial services provider’s stock valued at $8,694,000 after acquiring an additional 110,100 shares during the period. Institutional investors and hedge funds own 86.57% of the company’s stock.

Insider Buying and Selling at Unum Group

In related news, EVP Lisa G. Iglesias sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $72.61, for a total transaction of $363,050.00. Following the completion of the sale, the executive vice president now owns 35,840 shares of the company’s stock, valued at $2,602,342.40. This represents a 12.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $69.56, for a total transaction of $104,340.00. Following the sale, the chief accounting officer now owns 8,361 shares in the company, valued at approximately $581,591.16. This trade represents a 15.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 165,709 shares of company stock worth $10,956,914 over the last 90 days. Insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on UNM shares. UBS Group upgraded Unum Group to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their target price on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Piper Sandler restated an “overweight” rating and issued a $66.00 price target (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $67.00 to $84.00 in a research note on Thursday, November 14th. Finally, Morgan Stanley upped their target price on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Unum Group Price Performance

Shares of UNM stock opened at $75.84 on Friday. The firm has a market cap of $13.85 billion, a P/E ratio of 8.21, a P/E/G ratio of 1.11 and a beta of 0.76. The firm has a fifty day moving average of $63.86 and a two-hundred day moving average of $56.66. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. Unum Group has a 1-year low of $41.97 and a 1-year high of $76.31.

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, beating 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 firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the company earned $1.94 earnings per share. Unum Group’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, research analysts anticipate that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has initiated a share buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 10% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, October 25th. Unum Group’s dividend payout ratio is presently 18.18%.

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.