Unum Group (UNM) Stake Lowered by Neuberger Berman Group LLC
Neuberger Berman Group LLC cut its stake in Unum Group (NYSE:UNM) by 15.8% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,010,186 shares of the company’s stock after selling 375,909 shares during the period. Neuberger Berman Group LLC owned 0.87% of Unum Group worth $70,980,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. boosted its stake in shares of Unum Group by 100.7% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,876 shares of the company’s stock valued at $123,000 after buying an additional 1,945 shares during the period. Johnson Financial Group Inc. boosted its stake in shares of Unum Group by 514.2% in the second quarter. Johnson Financial Group Inc. now owns 3,906 shares of the company’s stock valued at $124,000 after buying an additional 3,270 shares during the period. Bellwether Investment Group LLC bought a new stake in shares of Unum Group during the second quarter valued at approximately $133,000. Point72 Asia Hong Kong Ltd bought a new stake in shares of Unum Group during the second quarter valued at approximately $134,000. Finally, Pacer Advisors Inc. boosted its stake in shares of Unum Group by 9.8% in the second quarter. Pacer Advisors Inc. now owns 4,288 shares of the company’s stock valued at $136,000 after buying an additional 384 shares during the period. Institutional investors own 92.81% of the company’s stock.
Shares of Unum Group (NYSE:UNM) opened at 42.02 on Wednesday. Unum Group has a 12-month low of $23.99 and a 12-month high of $43.47. The company has a 50-day moving average of $38.20 and a 200-day moving average of $35.23. The stock has a market capitalization of $9.75 billion, a P/E ratio of 11.03 and a beta of 1.50.
Unum Group (NYSE:UNM) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.04. The business earned $2.76 billion during the quarter, compared to the consensus estimate of $2.74 billion. Unum Group had a net margin of 8.29% and a return on equity of 10.24%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. Equities analysts expect that Unum Group will post $3.89 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, October 31st were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date was Thursday, October 27th. Unum Group’s payout ratio is 20.94%.
UNM has been the subject of several recent analyst reports. FBR & Co raised their price objective on shares of Unum Group from $31.00 to $40.00 and gave the company an “underperform” rating in a research note on Monday. Zacks Investment Research cut shares of Unum Group from a “buy” rating to a “hold” rating in a research note on Monday, October 17th. Wells Fargo & Co. initiated coverage on shares of Unum Group in a research note on Thursday, September 22nd. They issued a “market perform” rating for the company. RBC Capital Markets reiterated an “outperform” rating and issued a $43.00 price objective (up previously from $36.00) on shares of Unum Group in a research note on Tuesday, November 15th. Finally, Compass Point cut shares of Unum Group from a “buy” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Monday. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $38.60.
In other Unum Group news, EVP Christopher J. Jerome sold 8,000 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $41.49, for a total value of $331,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas R. Watjen sold 178,927 shares of the company’s stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $35.56, for a total transaction of $6,362,644.12. The disclosure for this sale can be found here. 0.62% of the stock is currently owned by company insiders.
About Unum Group
Unum Group is a provider of disability insurance products in the United States and the United Kingdom. The Company provides a portfolio of other insurance products, including employer and employee paid group benefits, life insurance and other related services. Its segments are Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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