Unum Group (NYSE:UNM) Shares Bought by Quest Partners LLC

Quest Partners LLC grew its holdings in shares of Unum Group (NYSE:UNM) by 44.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 54,720 shares of the financial services provider’s stock after buying an additional 16,945 shares during the period. Unum Group comprises approximately 0.4% of Quest Partners LLC’s holdings, making the stock its 19th biggest position. Quest Partners LLC’s holdings in Unum Group were worth $2,797,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Caprock Group LLC boosted its stake in Unum Group by 79.7% during the 2nd quarter. Caprock Group LLC now owns 12,087 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 5,362 shares during the last quarter. Savant Capital LLC boosted its position in shares of Unum Group by 1.6% during the 2nd quarter. Savant Capital LLC now owns 41,714 shares of the financial services provider’s stock valued at $2,132,000 after acquiring an additional 675 shares during the last quarter. Private Advisor Group LLC boosted its position in shares of Unum Group by 1.5% during the 2nd quarter. Private Advisor Group LLC now owns 29,481 shares of the financial services provider’s stock valued at $1,507,000 after acquiring an additional 437 shares during the last quarter. Addison Advisors LLC boosted its position in shares of Unum Group by 24.1% during the 2nd quarter. Addison Advisors LLC now owns 1,442 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 280 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of 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 valued at $57,237,000 after acquiring an additional 432,240 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Stock Down 2.0 %

Shares of NYSE:UNM opened at $54.14 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $10.06 billion, a PE ratio of 8.04, a price-to-earnings-growth ratio of 0.80 and a beta of 0.77. The firm’s 50-day moving average is $53.55 and its two-hundred day moving average is $52.27. Unum Group has a 1 year low of $41.75 and a 1 year high of $58.17.

Unum Group (NYSE:UNM) last issued its quarterly earnings results 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. The company had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 earnings per share. Analysts predict that Unum Group will post 8.5 EPS for the current year.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, July 26th. 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 yield of 3.10%. Unum Group’s dividend payout ratio is 24.96%.

Unum Group announced that its board has authorized a share buyback 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

UNM has been the topic of several recent research reports. Piper Sandler initiated coverage on shares of Unum Group in a research report on Thursday, July 11th. They set an “overweight” rating and a $57.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Jefferies Financial Group boosted their price target 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. Barclays began coverage on shares of Unum Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 price objective on the stock. Finally, Evercore ISI boosted their price objective on shares of Unum Group from $56.00 to $58.00 and gave the company an “in-line” rating in a report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Unum Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.90.

Insiders Place Their Bets

In related news, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the sale, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the sale, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the company’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 sale, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. The disclosure for this sale can be found here. Insiders own 0.93% of the company’s stock.

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.