Algert Global LLC Grows Stake in Unum Group (NYSE:UNM)

Algert Global LLC boosted its holdings in shares of Unum Group (NYSE:UNM) by 69.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 236,264 shares of the financial services provider’s stock after purchasing an additional 96,916 shares during the quarter. Unum Group comprises 0.4% of Algert Global LLC’s portfolio, making the stock its 28th biggest holding. Algert Global LLC’s holdings in Unum Group were worth $14,044,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in shares of Unum Group during the first quarter valued at approximately $1,130,000. Tidal Investments LLC grew its stake in Unum Group by 80.7% during the first quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock valued at $3,436,000 after acquiring an additional 28,580 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Unum Group by 8.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock valued at $44,609,000 after acquiring an additional 64,661 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Unum Group in the 1st quarter worth $703,000. Finally, Van ECK Associates Corp bought a new position in shares of Unum Group during the 2nd quarter valued at about $3,945,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Unum Group

In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the sale, the chief accounting officer now directly owns 8,361 shares of the company’s stock, valued at $581,591.16. The trade was a 15.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. This represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,709 shares of company stock valued at $10,956,914 in the last quarter. 0.93% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on UNM. Barclays lifted their target price on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and upped their price target for the company from $67.00 to $84.00 in a research note on Thursday, November 14th. Finally, Piper Sandler reissued an “overweight” rating and issued a $66.00 price objective (up from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.73.

Unum Group Price Performance

Unum Group stock opened at $75.83 on Friday. Unum Group has a 12-month low of $41.97 and a 12-month high of $76.31. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a 50-day moving average price of $63.45 and a 200-day moving average price of $56.49. The firm has a market capitalization of $13.85 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76.

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

Unum Group announced that its Board of Directors has authorized a stock buyback program 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 programs are generally a sign that the company’s management believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, October 25th. 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.