Unum Group (NYSE:UNM) Stake Lowered by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. reduced its holdings in Unum Group (NYSE:UNM) by 6.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,921,010 shares of the financial services provider’s stock after selling 187,291 shares during the quarter. Unum Group comprises 4.1% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 5th biggest holding. Donald Smith & CO. Inc. owned 1.54% of Unum Group worth $173,625,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of UNM. Versant Capital Management Inc increased its stake in Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 394 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in Unum Group in the 2nd quarter valued at approximately $26,000. Salomon & Ludwin LLC purchased a new position in Unum Group during the first quarter worth $28,000. 1620 Investment Advisors Inc. purchased a new position in Unum Group during the second quarter worth $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Unum Group during the third quarter worth $37,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Price Performance

Shares of UNM traded up $2.97 during trading hours on Wednesday, hitting $64.60. 910,500 shares of the company were exchanged, compared to its average volume of 1,229,814. The company has a market capitalization of $12.23 billion, a PE ratio of 9.64, a PEG ratio of 0.91 and a beta of 0.77. 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 fifty day simple moving average of $58.40 and a 200-day simple moving average of $54.37. Unum Group has a one year low of $41.75 and a one year high of $64.89.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.04. Unum Group had a return on equity of 15.55% and a net margin of 10.40%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the prior year, the company earned $1.94 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts predict that Unum Group will post 8.49 earnings per share for the current year.

Unum Group announced that its board has approved a share repurchase 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 reacquire up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date is Friday, October 25th. Unum Group’s dividend payout ratio is 24.96%.

Insiders Place Their Bets

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction on Wednesday, August 14th. The shares were 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 owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction on Thursday, September 5th. The stock was 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 of the company’s stock, valued at $58,601,422.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on UNM. Wells Fargo & Company upped their target price on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Truist Financial upped their price objective on Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Citigroup increased their price target on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Finally, Piper Sandler reiterated an “overweight” rating and set a $66.00 price target (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Unum Group presently has a consensus rating of “Moderate Buy” and an average price target of $63.64.

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.