Retirement Systems of Alabama Has $28.61 Million Holdings in Unum Group (NYSE:UNM)

Retirement Systems of Alabama trimmed its stake in shares of Unum Group (NYSE:UNM) by 6.0% during the third quarter, HoldingsChannel reports. The fund owned 481,316 shares of the financial services provider’s stock after selling 30,504 shares during the period. Retirement Systems of Alabama’s holdings in Unum Group were worth $28,609,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp acquired a new stake in shares of Unum Group in the 2nd quarter valued at about $3,945,000. My Legacy Advisors LLC acquired a new stake in Unum Group in the 2nd quarter valued at approximately $473,000. CoreCap Advisors LLC bought a new stake in Unum Group in the 2nd quarter valued at approximately $2,007,000. Artemis Investment Management LLP boosted its position in Unum Group by 11.9% during the 3rd quarter. Artemis Investment Management LLP now owns 232,751 shares of the financial services provider’s stock worth $13,835,000 after acquiring an additional 24,664 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Unum Group by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock worth $326,950,000 after acquiring an additional 55,014 shares during the last quarter. 86.57% of the stock is owned by institutional investors.

Insider Transactions at Unum Group

In other news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Timothy Gerald Arnold sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now owns 54,827 shares of the company’s stock, valued at $4,217,292.84. This trade represents a 15.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,914 shares of company stock worth $7,998,745 over the last quarter. Company insiders own 0.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Jefferies Financial Group boosted their price objective on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Tuesday. Truist Financial boosted their price target on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler restated an “overweight” rating and issued a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Wells Fargo & Company lifted their target price on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. decreased their price target on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.64.

Unum Group Stock Up 0.3 %

UNM opened at $73.80 on Friday. The stock’s fifty day simple moving average is $69.03 and its 200 day simple moving average is $59.01. Unum Group has a 1-year low of $43.26 and a 1-year high of $77.63. The stock has a market cap of $13.48 billion, a PE ratio of 7.99, a price-to-earnings-growth ratio of 1.04 and a beta of 0.79. 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 (NYSE:UNM) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $3.22 billion for 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 company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.94 earnings per share. As a group, research analysts expect that Unum Group will post 8.54 earnings per share for the current year.

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 given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.28%. Unum Group’s dividend payout ratio (DPR) is presently 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.