Algert Global LLC Raises Stake in Unum Group (NYSE:UNM)

Algert Global LLC increased its holdings in shares of Unum Group (NYSE:UNM) by 69.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,264 shares of the financial services provider’s stock after acquiring an additional 96,916 shares during the period. Unum Group makes up 0.4% of Algert Global LLC’s investment portfolio, making the stock its 28th largest holding. Algert Global LLC owned about 0.13% of Unum Group worth $14,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Kingsview Wealth Management LLC boosted its position in shares of Unum Group by 1,020.3% in the 3rd quarter. Kingsview Wealth Management LLC now owns 55,725 shares of the financial services provider’s stock worth $3,312,000 after purchasing an additional 50,751 shares in the last quarter. Cerity Partners LLC raised its stake in Unum Group by 57.0% during the third quarter. Cerity Partners LLC now owns 71,667 shares of the financial services provider’s stock valued at $4,260,000 after buying an additional 26,010 shares during the last quarter. Citigroup Inc. boosted its holdings in Unum Group by 15.1% in the third quarter. Citigroup Inc. now owns 62,491 shares of the financial services provider’s stock worth $3,714,000 after acquiring an additional 8,186 shares in the last quarter. AlphaCore Capital LLC grew its stake in shares of Unum Group by 3.5% in the third quarter. AlphaCore Capital LLC now owns 99,274 shares of the financial services provider’s stock worth $5,901,000 after acquiring an additional 3,331 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Unum Group by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock valued at $326,950,000 after acquiring an additional 55,014 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Stock Up 0.5 %

Unum Group stock opened at $75.83 on Friday. Unum Group has a one year low of $41.97 and a one year high of $76.31. The stock has a fifty day moving average of $63.45 and a 200 day moving average of $56.49. 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 stock has a market cap of $13.85 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. As a group, sell-side analysts predict that Unum Group will post 8.53 EPS for the current year.

Unum Group announced that its Board of Directors has approved a stock buyback plan 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 repurchase up to 10% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend was Friday, October 25th. Unum Group’s dividend payout ratio is presently 18.18%.

Insider Transactions at Unum Group

In other news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. This trade represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the transaction, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. This trade represents a 15.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,709 shares of company stock worth $10,956,914 in the last 90 days. 0.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on UNM shares. Wells Fargo & Company upped their price target on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Piper Sandler reiterated an “overweight” rating and set a $66.00 price target (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $67.00 to $84.00 in a research report on Thursday, November 14th. Barclays upped their price objective on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Bank of America boosted their price target on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.