Brooklyn Investment Group Raises Stake in Unum Group (NYSE:UNM)

Brooklyn Investment Group increased its holdings in Unum Group (NYSE:UNM) by 3.1% in the third quarter, Holdings Channel reports. The fund owned 6,592 shares of the financial services provider’s stock after purchasing an additional 197 shares during the quarter. Brooklyn Investment Group’s holdings in Unum Group were worth $392,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in UNM. Versant Capital Management Inc lifted its stake in Unum Group by 361.5% in the second quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 394 shares during the period. V Square Quantitative Management LLC purchased a new stake in Unum Group in the second quarter worth about $26,000. 1620 Investment Advisors Inc. purchased a new stake in Unum Group in the second quarter worth about $29,000. Capital Performance Advisors LLP purchased a new stake in Unum Group in the third quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Unum Group in the third quarter worth about $37,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Price Performance

Shares of NYSE:UNM opened at $76.20 on Wednesday. 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 has a twelve month low of $41.97 and a twelve month high of $76.72. The company’s 50 day moving average is $64.26 and its 200 day moving average is $56.88. The company has a market cap of $13.91 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.76.

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

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.20%. Unum Group’s dividend payout ratio (DPR) is 18.18%.

Unum Group declared that its Board of Directors has authorized a share repurchase plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently weighed in on UNM shares. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $67.00 to $84.00 in a research note on Thursday, November 14th. Piper Sandler reiterated an “overweight” rating and issued a $66.00 target price (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. JPMorgan Chase & Co. reduced their target price on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company boosted their target price on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Barclays boosted their target price on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Insider Activity

In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at approximately $581,591.16. This trade represents a 15.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 5.98 % decrease in their position. 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 quarter. Corporate insiders own 0.93% of the company’s stock.

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.