Unum Group (UNM) Stake Lowered by Retirement Systems of Alabama
Retirement Systems of Alabama cut its stake in Unum Group (NYSE:UNM) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,798 shares of the company’s stock after selling 2,538 shares during the period. Retirement Systems of Alabama owned approximately 0.17% of Unum Group worth $13,764,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP raised its position in shares of Unum Group by 457.7% in the second quarter. Quantbot Technologies LP now owns 89,512 shares of the company’s stock valued at $2,845,000 after buying an additional 73,462 shares in the last quarter. Royal Bank of Canada raised its stake in Unum Group by 23.8% in the second quarter. Royal Bank of Canada now owns 1,051,374 shares of the company’s stock worth $33,423,000 after buying an additional 202,366 shares during the period. AGF Investments Inc. raised its stake in Unum Group by 17.8% in the second quarter. AGF Investments Inc. now owns 2,231,094 shares of the company’s stock worth $70,912,000 after buying an additional 337,082 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Unum Group by 33.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 261,298 shares of the company’s stock worth $8,307,000 after buying an additional 66,208 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Unum Group by 52.6% in the first quarter. Envestnet Asset Management Inc. now owns 43,734 shares of the company’s stock worth $1,352,000 after buying an additional 15,075 shares during the period. Hedge funds and other institutional investors own 92.81% of the company’s stock.
Shares of Unum Group (NYSE:UNM) traded up 0.90% on Wednesday, reaching $42.40. 901,604 shares of the company’s stock traded hands. Unum Group has a 52 week low of $23.99 and a 52 week 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 $9.84 billion, a PE ratio of 11.13 and a beta of 1.50.
Unum Group (NYSE:UNM) last released its quarterly earnings data on Wednesday, October 26th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.04. Unum Group had a net margin of 8.29% and a return on equity of 10.24%. The company earned $2.76 billion during the quarter, compared to the consensus estimate of $2.74 billion. During the same period in the previous year, the firm earned $0.83 earnings per share. Unum Group’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts forecast that Unum Group will post $3.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, October 31st were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, October 27th. This represents a $0.80 annualized dividend and a yield of 1.90%. Unum Group’s dividend payout ratio is currently 20.94%.
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A number of equities research analysts have issued reports on UNM shares. Zacks Investment Research upgraded shares of Unum Group from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, September 27th. Goldman Sachs Group Inc. increased their target price on shares of Unum Group from $30.00 to $33.00 and gave the stock a “sell” rating in a report on Friday, September 23rd. Credit Suisse Group AG started coverage on shares of Unum Group in a report on Friday, October 7th. They set a “neutral” rating and a $42.00 target price on the stock. Royal Bank Of Canada increased their target price on shares of Unum Group from $36.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, November 15th. Finally, Wells Fargo & Co. started coverage on shares of Unum Group in a report on Thursday, September 22nd. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $38.67.
In other news, Director Thomas R. Watjen sold 178,927 shares of the business’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $35.56, for a total transaction of $6,362,644.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Christopher J. Jerome sold 8,000 shares of the business’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $41.49, for a total transaction of $331,920.00. The disclosure for this sale can be found here. Company insiders own 0.62% of the company’s stock.
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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