Unum Group (NYSE:UNM) CEO Richard P. Mckenney Sells 50,000 Shares

Unum Group (NYSE:UNM) CEO Richard P. Mckenney sold 50,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $81.99, for a total transaction of $4,099,500.00. Following the completion of the transaction, the chief executive officer now owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. The trade was a 4.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Unum Group Stock Performance

Shares of NYSE:UNM traded down $3.44 during midday trading on Tuesday, reaching $77.95. 2,639,632 shares of the company’s stock traded hands, compared to its average volume of 1,151,049. Unum Group has a one year low of $48.38 and a one year high of $83.96. The stock has a 50 day moving average of $75.10 and a 200 day moving average of $68.02. The company has a market cap of $14.23 billion, a price-to-earnings ratio of 8.23, a P/E/G ratio of 1.14 and a beta of 0.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29.

Unum Group (NYSE:UNM) last released its quarterly earnings data on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. As a group, equities research analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a dividend yield of 2.16%. Unum Group’s payout ratio is 17.74%.

Unum Group announced that its board has approved a share repurchase plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on UNM shares. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $67.00 to $84.00 in a research note on Thursday, November 14th. Wells Fargo & Company upped their price target on Unum Group from $81.00 to $91.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 19th. BMO Capital Markets lifted their price objective on Unum Group from $95.00 to $102.00 and gave the company an “outperform” rating in a research note on Monday. Barclays boosted their target price on Unum Group from $76.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Finally, Piper Sandler raised their price target on Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.83.

Institutional Trading of Unum Group

Hedge funds have recently bought and sold shares of the company. Barrett & Company Inc. increased its position in shares of Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 297 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Unum Group during the third quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in Unum Group during the fourth quarter valued at approximately $38,000. Millstone Evans Group LLC bought a new position in Unum Group in the fourth quarter worth approximately $45,000. Finally, Quarry LP raised its position in Unum Group by 4,794.7% in the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 911 shares during the period. Hedge funds and other institutional investors own 86.57% of the company’s stock.

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.