Gloria C. Larson Sells 10,000 Shares of Unum Group (NYSE:UNM) Stock

Unum Group (NYSE:UNM) Director Gloria C. Larson sold 10,000 shares of Unum Group stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $74.50, for a total transaction of $745,000.00. Following the completion of the sale, the director now directly owns 121,491 shares in the company, valued at $9,051,079.50. This represents a 7.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Unum Group Price Performance

NYSE:UNM opened at $75.84 on Friday. Unum Group has a 52 week low of $41.97 and a 52 week high of $76.31. The stock’s fifty day moving average is $63.86 and its two-hundred day moving average is $56.66. The company has a market capitalization of $13.85 billion, a P/E ratio of 8.21, a P/E/G ratio of 1.11 and a beta of 0.76. The company has a quick ratio of 0.28, a current 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 (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm 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%. Unum Group’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.94 EPS. Equities analysts expect that Unum Group will post 8.53 EPS for the current year.

Unum Group announced that its Board of Directors has initiated 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 buy up to 10% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors 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 2.22%. Unum Group’s payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on UNM shares. UBS Group upgraded shares of Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Truist Financial lifted their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their price objective on Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Finally, Bank of America lifted their target price on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. 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, Unum Group has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings 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 buying an additional 394 shares during the period. V Square Quantitative Management LLC acquired a new position in Unum Group in the 2nd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in Unum Group during the third quarter worth about $31,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Unum Group during the second quarter worth about $29,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Unum Group in the third quarter valued at approximately $37,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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.