Richard P. Mckenney Sells 58,865 Shares of Unum Group (NYSE:UNM) 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 stock was sold at an average price of $75.39, for a total transaction of $4,437,832.35. Following the completion of the transaction, the chief executive officer now directly owns 1,007,003 shares in the company, valued at $75,917,956.17. This trade represents a 5.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Unum Group Price Performance

UNM traded up $0.40 on Friday, hitting $75.83. 1,758,071 shares of the company’s stock were exchanged, compared to its average volume of 1,254,533. Unum Group has a fifty-two week low of $41.97 and a fifty-two week high of $76.31. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 8.21, a P/E/G ratio of 1.06 and a beta of 0.76. The firm has a 50-day moving average price of $63.45 and a 200-day moving average price of $56.49. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 earnings per share. As a group, equities analysts anticipate that Unum Group will post 8.53 earnings per share for the current year.

Unum Group declared that its board has approved a stock repurchase program on Tuesday, July 30th that permits the company to buyback $1.00 billion in 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 typically an indication that the company’s leadership believes its stock is undervalued.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were issued a $0.42 dividend. The ex-dividend date of this dividend 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%.

Hedge Funds Weigh In On Unum Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Unum Group by 361.5% during the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 394 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Unum Group during the 2nd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in shares of Unum Group during the 3rd quarter worth about $31,000. 1620 Investment Advisors Inc. purchased a new position in shares of Unum Group in the 2nd quarter valued at about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Unum Group in the 3rd quarter valued at about $37,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on UNM. Bank of America increased their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. cut their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Morgan Stanley upped their price objective on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised 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. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price target (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.73.

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.