Unum Group (NYSE:UNM) CEO Sells $4,437,832.35 in Stock

Unum Group (NYSE:UNM) CEO Richard P. Mckenney sold 58,865 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was 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 directly owns 1,007,003 shares of the company’s stock, valued at approximately $75,917,956.17. The trade was a 5.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Unum Group Stock Performance

Shares of UNM stock opened at $75.83 on Friday. The stock has a 50 day moving average price of $63.45 and a two-hundred day moving average price of $56.49. Unum Group has a fifty-two week low of $41.97 and a fifty-two week high of $76.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market capitalization of $13.85 billion, a P/E ratio of 8.21, a PEG ratio of 1.11 and a beta of 0.76.

Unum Group (NYSE:UNM) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. Unum Group’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $1.94 earnings per share. Analysts expect that Unum Group will post 8.53 earnings per share for the current year.

Unum Group Announces Dividend

The business 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. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.22%. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on UNM. Piper Sandler reiterated an “overweight” rating and set a $66.00 price target (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Bank of America lifted their target price on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Truist Financial raised their price objective on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley boosted 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. Finally, Wells Fargo & Company boosted their target price on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.73.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of UNM. ProShare Advisors LLC lifted its position in Unum Group by 89.8% during the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock valued at $61,728,000 after purchasing an additional 571,436 shares during the period. Victory Capital Management Inc. lifted its holdings 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 buying an additional 432,240 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in shares of Unum Group by 151.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 509,702 shares of the financial services provider’s stock worth $30,297,000 after buying an additional 307,175 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Unum Group during the 2nd quarter valued at $6,640,000. Finally, Hsbc Holdings PLC boosted its holdings in Unum Group by 106.4% in the 2nd quarter. Hsbc Holdings PLC now owns 233,881 shares of the financial services provider’s stock worth $11,915,000 after buying an additional 120,559 shares during the period. 86.57% of the stock is currently owned by institutional investors.

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.