Gloria C. Larson Sells 2,460 Shares of Unum Group (NYSE:UNM) Stock
Unum Group (NYSE:UNM) Director Gloria C. Larson sold 2,460 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $50.23, for a total transaction of $123,565.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Unum Group (NYSE:UNM) traded down 0.10% on Thursday, reaching $50.18. 1,072,824 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $47.46 and its 200-day moving average price is $46.79. Unum Group has a 12 month low of $32.64 and a 12 month high of $50.67. The company has a market capitalization of $11.32 billion, a P/E ratio of 12.06 and a beta of 1.56.
Unum Group (NYSE:UNM) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.04. Unum Group had a return on equity of 10.23% and a net margin of 8.57%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. On average, equities analysts anticipate that Unum Group will post $4.17 EPS for the current year.
Unum Group declared that its board has approved a share repurchase program on Thursday, May 25th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be issued a $0.23 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.92 dividend on an annualized basis and a yield of 1.83%. This is an increase from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s dividend payout ratio is currently 22.17%.
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A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Unum Group by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,069,527 shares of the financial services provider’s stock worth $1,128,621,000 after buying an additional 732,083 shares in the last quarter. BlackRock Inc. increased its position in Unum Group by 2,690.7% in the first quarter. BlackRock Inc. now owns 16,788,648 shares of the financial services provider’s stock worth $787,221,000 after buying an additional 16,187,062 shares in the last quarter. State Street Corp increased its position in Unum Group by 5.0% in the first quarter. State Street Corp now owns 12,119,332 shares of the financial services provider’s stock worth $568,278,000 after buying an additional 573,818 shares in the last quarter. Boston Partners increased its position in Unum Group by 16.6% in the first quarter. Boston Partners now owns 9,564,880 shares of the financial services provider’s stock worth $448,498,000 after buying an additional 1,358,289 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Unum Group by 32.4% in the first quarter. AQR Capital Management LLC now owns 5,699,745 shares of the financial services provider’s stock worth $267,262,000 after buying an additional 1,395,330 shares in the last quarter. Hedge funds and other institutional investors own 92.96% of the company’s stock.
Several research firms recently issued reports on UNM. BidaskClub raised shares of Unum Group from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised shares of Unum Group from a “sell” rating to a “hold” rating and set a $56.00 target price on the stock in a research report on Monday. Wells Fargo & Company reissued a “hold” rating on shares of Unum Group in a research report on Sunday. Royal Bank Of Canada reissued a “hold” rating on shares of Unum Group in a research report on Wednesday, July 12th. Finally, Deutsche Bank AG raised their target price on shares of Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $46.67.
About Unum Group
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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