Atwood & Palmer Inc. Acquires New Position in Unum Group (UNM)
Atwood & Palmer Inc. acquired a new position in shares of Unum Group (NYSE:UNM) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 118,765 shares of the financial services provider’s stock, valued at approximately $5,538,000. Atwood & Palmer Inc. owned 0.05% of Unum Group at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whalerock Point Partners LLC purchased a new position in shares of Unum Group during the second quarter worth approximately $211,000. Sullivan Bruyette Speros & Blaney LLC raised its position in shares of Unum Group by 1.4% in the second quarter. Sullivan Bruyette Speros & Blaney LLC now owns 21,642 shares of the financial services provider’s stock worth $1,009,000 after buying an additional 298 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Unum Group by 8.5% in the second quarter. Pacer Advisors Inc. now owns 4,736 shares of the financial services provider’s stock worth $221,000 after buying an additional 370 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in shares of Unum Group during the second quarter worth approximately $1,175,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Unum Group by 18.5% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 59,180 shares of the financial services provider’s stock worth $2,760,000 after buying an additional 9,221 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.
Unum Group (NYSE UNM) traded up 0.40% during mid-day trading on Wednesday, hitting $48.12. The company’s stock had a trading volume of 75,963 shares. The firm has a 50 day moving average of $48.81 and a 200-day moving average of $47.25. Unum Group has a 52-week low of $33.98 and a 52-week high of $51.43. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 11.59 and a beta of 1.56.
Unum Group (NYSE:UNM) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.04. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.80 billion. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. During the same quarter in the previous year, the firm posted $1.00 EPS. On average, equities research analysts expect that Unum Group will post $4.17 EPS for the current fiscal year.
Unum Group announced that its board has approved a stock repurchase program on Thursday, May 25th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 7.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, July 31st were paid a dividend of $0.23 per share. This is a positive change from Unum Group’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, July 27th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.92%. Unum Group’s payout ratio is presently 22.17%.
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Several research analysts have recently issued reports on UNM shares. Zacks Investment Research upgraded Unum Group from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Thursday, August 24th. BidaskClub lowered Unum Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 17th. Barclays PLC raised their price target on Unum Group from $56.00 to $57.00 and gave the stock an “overweight” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Co restated a “hold” rating on shares of Unum Group in a research report on Sunday, July 30th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $46.56.
In related news, Director Pamela H. Godwin sold 2,500 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $50.71, for a total transaction of $126,775.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Breege A. Farrell sold 15,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $45.47, for a total transaction of $682,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,960 shares of company stock worth $932,391 in the last ninety days. Insiders own 0.53% of the company’s stock.
Unum Group Company Profile
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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