Barnett & Company Inc. Cuts Stock Position in Unum Group (NYSE:UNM)

Barnett & Company Inc. cut its holdings in shares of Unum Group (NYSE:UNM) by 1.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 146,842 shares of the financial services provider’s stock after selling 1,900 shares during the period. Unum Group makes up approximately 5.8% of Barnett & Company Inc.’s investment portfolio, making the stock its biggest holding. Barnett & Company Inc.’s holdings in Unum Group were worth $8,728,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of UNM. ProShare Advisors LLC boosted its holdings in shares of Unum Group by 6,498.1% in the first quarter. ProShare Advisors LLC now owns 636,320 shares of the financial services provider’s stock worth $34,145,000 after acquiring an additional 626,676 shares during the period. Victory Capital Management Inc. raised its position in Unum Group by 62.9% in the 2nd quarter. Victory Capital Management Inc. now owns 1,119,870 shares of the financial services provider’s stock worth $57,237,000 after purchasing an additional 432,240 shares during the period. Sei Investments Co. lifted its stake in shares of Unum Group by 105.8% in the 1st quarter. Sei Investments Co. now owns 377,627 shares of the financial services provider’s stock valued at $20,263,000 after acquiring an additional 194,125 shares during the last quarter. M&G Plc bought a new stake in Unum Group during the 1st quarter valued at $8,988,000. Finally, Neo Ivy Capital Management bought a new stake in shares of Unum Group in the second quarter worth about $6,640,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $69.56, for a total transaction of $104,340.00. Following the sale, the chief accounting officer now directly owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the firm’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 transaction of $104,340.00. Following the completion of the sale, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at approximately $581,591.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christopher W. Pyne sold 3,250 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.02, for a total transaction of $227,565.00. Following the completion of the sale, the executive vice president now owns 50,762 shares in the company, valued at approximately $3,554,355.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,545 shares of company stock worth $4,921,174 in the last quarter. 0.93% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

UNM has been the subject of several research reports. Evercore ISI increased their target price on Unum Group from $59.00 to $66.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price objective (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Citigroup raised their price target on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Morgan Stanley upped their target price on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Truist Financial lifted their price objective on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and an average target price of $66.09.

Unum Group Price Performance

Unum Group stock traded up $0.69 during mid-day trading on Tuesday, hitting $70.91. 204,339 shares of the company were exchanged, compared to its average volume of 1,245,467. The company has a market capitalization of $12.95 billion, a P/E ratio of 7.60, a PEG ratio of 1.02 and a beta of 0.76. Unum Group has a 12-month low of $41.86 and a 12-month high of $71.42. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The business’s 50 day simple moving average is $60.55 and its two-hundred day simple moving average is $55.36.

Unum Group (NYSE:UNM) last released its quarterly earnings data 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. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. 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 business earned $1.94 earnings per share. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Unum Group will post 8.52 earnings per share for the current fiscal year.

Unum Group announced that its board has initiated 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 purchase up to 10% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.37%. The ex-dividend date is Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is 18.18%.

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.