GAMMA Investing LLC Purchases 2,796 Shares of Unum Group (NYSE:UNM)

GAMMA Investing LLC raised its stake in shares of Unum Group (NYSE:UNM) by 91.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,867 shares of the financial services provider’s stock after acquiring an additional 2,796 shares during the quarter. GAMMA Investing LLC’s holdings in Unum Group were worth $300,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in UNM. Quadrature Capital Ltd bought a new position in shares of Unum Group during the first quarter worth $1,130,000. Boone Capital Management LLC raised its position in shares of Unum Group by 10.8% in the 4th quarter. Boone Capital Management LLC now owns 961,661 shares of the financial services provider’s stock valued at $43,486,000 after buying an additional 94,096 shares in the last quarter. Allianz Asset Management GmbH increased its position in Unum Group by 3.6% during the 4th quarter. Allianz Asset Management GmbH now owns 950,914 shares of the financial services provider’s stock worth $43,000,000 after purchasing an additional 33,454 shares in the last quarter. First Trust Advisors LP increased its position in Unum Group by 43.0% during the 4th quarter. First Trust Advisors LP now owns 973,480 shares of the financial services provider’s stock worth $44,021,000 after purchasing an additional 292,917 shares in the last quarter. Finally, Norges Bank acquired a new position in Unum Group during the 4th quarter worth approximately $590,489,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Unum Group

In other news, EVP Christopher W. Pyne sold 4,500 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total transaction of $236,115.00. Following the sale, the executive vice president now owns 56,262 shares of the company’s stock, valued at approximately $2,952,067.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Christopher W. Pyne sold 4,500 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the transaction, the executive vice president now owns 56,262 shares in the company, valued at approximately $2,952,067.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy F. Keaney sold 8,000 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total transaction of $420,880.00. Following the completion of the transaction, the director now owns 37,505 shares in the company, valued at approximately $1,973,138.05. The disclosure for this sale can be found here. 0.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on UNM shares. Truist Financial upped their price target on shares of Unum Group from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday. Jefferies Financial Group raised their price objective on shares of Unum Group from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Wells Fargo & Company increased their target price on shares of Unum Group from $64.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. increased their target price on shares of Unum Group from $64.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Finally, Piper Sandler assumed coverage on shares of Unum Group in a report on Thursday, July 11th. They set an “overweight” rating and a $57.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and an average price target of $61.44.

Unum Group Price Performance

NYSE:UNM traded down $1.09 during mid-day trading on Monday, hitting $52.81. 1,665,702 shares of the stock traded hands, compared to its average volume of 1,279,261. The business’s 50-day moving average price is $51.98 and its 200 day moving average price is $51.11. The company has a market cap of $9.81 billion, a PE ratio of 7.81, a price-to-earnings-growth ratio of 0.79 and a beta of 0.81. Unum Group has a 12-month low of $41.75 and a 12-month high of $58.17. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33.

Unum Group (NYSE:UNM) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.23 billion. During the same period in the previous year, the business posted $2.06 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts expect that Unum Group will post 8.51 EPS for the current fiscal year.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, July 26th will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, July 26th. This is an increase from Unum Group’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.18%. Unum Group’s dividend payout ratio is currently 24.96%.

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.