Unum Group (NYSE:UNM) Stake Boosted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC increased its stake in Unum Group (NYSE:UNM) by 1,020.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 55,725 shares of the financial services provider’s stock after acquiring an additional 50,751 shares during the period. Kingsview Wealth Management LLC’s holdings in Unum Group were worth $3,312,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in shares of Unum Group by 3.4% during the third quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock valued at $330,000 after buying an additional 180 shares during the last quarter. V Square Quantitative Management LLC grew its holdings in Unum Group by 38.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock worth $42,000 after buying an additional 194 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Unum Group by 2.2% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 217 shares during the period. Caprock Group LLC raised its stake in Unum Group by 1.8% during the 3rd quarter. Caprock Group LLC now owns 12,308 shares of the financial services provider’s stock valued at $732,000 after acquiring an additional 221 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in Unum Group by 2.8% during the 3rd quarter. Global Retirement Partners LLC now owns 8,292 shares of the financial services provider’s stock worth $493,000 after acquiring an additional 224 shares during the period. Institutional investors own 86.57% of the company’s stock.

Insider Buying and Selling at Unum Group

In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group 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 in the company, valued at $581,591.16. The trade was a 15.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 5.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 165,709 shares of company stock worth $10,956,914. 0.93% of the stock is currently owned by corporate insiders.

Unum Group Price Performance

Shares of Unum Group stock opened at $75.84 on Monday. The firm has a market cap of $13.85 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76. The firm’s 50-day simple moving average is $63.86 and its 200-day simple moving average is $56.71. Unum Group has a twelve month low of $41.97 and a twelve month high of $76.31. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.94 earnings per share. As a group, research analysts expect that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group declared that its board has authorized a stock buyback program on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows 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 management believes its stock is undervalued.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date was Friday, October 25th. Unum Group’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Truist Financial raised their price target on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler restated 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. JPMorgan Chase & Co. reduced their price target on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Bank of America raised their price objective on shares of Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, October 10th. Finally, 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. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Unum Group 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.