State of Tennessee Treasury Department Has $6.56 Million Position in Unum Group (UNM)
State of Tennessee Treasury Department decreased its position in shares of Unum Group (NYSE:UNM) by 20.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 140,719 shares of the financial services provider’s stock after selling 35,077 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.06% of Unum Group worth $6,562,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in UNM. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Unum Group by 1.2% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,434 shares of the financial services provider’s stock valued at $114,000 after buying an additional 29 shares in the last quarter. Huntington National Bank lifted its stake in shares of Unum Group by 25.8% during the 2nd quarter. Huntington National Bank now owns 3,417 shares of the financial services provider’s stock valued at $160,000 after buying an additional 700 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Unum Group by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 4,366 shares of the financial services provider’s stock valued at $205,000 after buying an additional 134 shares in the last quarter. Johnson Financial Group Inc. increased its holdings in Unum Group by 4.7% in the 1st quarter. Johnson Financial Group Inc. now owns 4,446 shares of the financial services provider’s stock valued at $208,000 after acquiring an additional 200 shares during the last quarter. Finally, Gotham Asset Management LLC bought a new stake in Unum Group in the 1st quarter valued at $208,000. Institutional investors own 92.37% of the company’s stock.
A number of brokerages have issued reports on UNM. Royal Bank Of Canada reiterated a “hold” rating on shares of Unum Group in a report on Wednesday, July 12th. BidaskClub upgraded shares of Unum Group from a “buy” rating to a “strong-buy” rating in a report on Friday, August 11th. Barclays PLC lifted their price target on shares of Unum Group from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Wells Fargo & Company reiterated a “hold” rating on shares of Unum Group in a report on Sunday, July 30th. Finally, Zacks Investment Research downgraded shares of Unum Group from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $46.44.
Shares of Unum Group (NYSE UNM) opened at 47.11 on Friday. Unum Group has a 12-month low of $33.98 and a 12-month high of $51.43. The stock has a 50 day moving average of $48.86 and a 200-day moving average of $47.24. The company has a market capitalization of $10.63 billion, a P/E ratio of 11.35 and a beta of 1.57.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.04. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.80 billion. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. During the same period last year, the firm posted $1.00 earnings per share. Equities research analysts forecast that Unum Group will post $4.17 EPS for the current year.
Unum Group announced that its board has initiated a stock buyback program on Thursday, May 25th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the financial services provider to purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Stockholders of record on Monday, July 31st were paid a $0.23 dividend. This is an increase from Unum Group’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, July 27th. Unum Group’s dividend payout ratio (DPR) is currently 22.17%.
In other news, Director Pamela H. Godwin sold 2,500 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $50.71, for a total value of $126,775.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gloria C. Larson sold 2,460 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $50.23, for a total transaction of $123,565.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,960 shares of company stock worth $932,391. Insiders own 0.53% of the company’s stock.
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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