Pitcairn Co. Has $580,000 Stake in Unum Group (NYSE:UNM)

Pitcairn Co. reduced its holdings in Unum Group (NYSE:UNM) by 7.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,761 shares of the financial services provider’s stock after selling 740 shares during the period. Pitcairn Co.’s holdings in Unum Group were worth $580,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of UNM. Versant Capital Management Inc lifted its stake in shares of Unum Group by 361.5% in the 2nd quarter. Versant Capital Management Inc now owns 503 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new position in Unum Group in the second quarter valued at about $26,000. 1620 Investment Advisors Inc. bought a new position in Unum Group during the second quarter worth about $29,000. Capital Performance Advisors LLP acquired a new position in shares of Unum Group during the 3rd quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Unum Group in the 3rd quarter valued at about $37,000. 86.57% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Unum Group news, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were 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 approximately $58,601,422.64. This represents a 5.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lisa G. Iglesias sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $72.61, for a total transaction of $363,050.00. Following the completion of the sale, the executive vice president now owns 35,840 shares of the company’s stock, valued at approximately $2,602,342.40. This represents a 12.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,709 shares of company stock worth $10,956,914. Corporate insiders own 0.93% of the company’s stock.

Unum Group Price Performance

Shares of UNM opened at $76.21 on Tuesday. The company has a 50 day moving average of $63.86 and a 200-day moving average of $56.71. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $13.92 billion, a P/E ratio of 8.25, a P/E/G ratio of 1.11 and a beta of 0.76. Unum Group has a twelve month low of $41.97 and a twelve month high of $76.72.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business earned $1.94 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group announced that its Board of Directors has initiated a stock buyback plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to purchase 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.

Unum Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.20%. Unum Group’s payout ratio is presently 18.18%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Barclays boosted their price target on shares of Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America raised their price objective on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Morgan Stanley boosted their target price on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $66.00 price target (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Unum Group Company 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.