Patten & Patten Inc. TN cut its stake in shares of Unum Group (NYSE:UNM) by 4.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 131,800 shares of the financial services provider’s stock after selling 5,535 shares during the period. Patten & Patten Inc. TN owned approximately 0.06% of Unum Group worth $6,146,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its stake in Unum Group by 1.2% in the first 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 during the last quarter. Crestwood Advisors Group LLC bought a new stake in Unum Group during the first quarter valued at approximately $150,000. First Manhattan Co. increased its stake in Unum Group by 23.0% in the first quarter. First Manhattan Co. now owns 5,350 shares of the financial services provider’s stock valued at $188,000 after buying an additional 1,000 shares during the last quarter. Federated Investors Inc. PA increased its stake in Unum Group by 217,300.0% in the fourth quarter. Federated Investors Inc. PA now owns 4,348 shares of the financial services provider’s stock valued at $191,000 after buying an additional 4,346 shares during the last quarter. Finally, Coastline Trust Co bought a new stake in Unum Group during the first quarter valued at approximately $202,000. 93.89% of the stock is owned by institutional investors.
Shares of Unum Group (NYSE:UNM) traded down 0.48% during midday trading on Friday, reaching $49.70. The company’s stock had a trading volume of 743,811 shares. Unum Group has a one year low of $33.25 and a one year high of $51.43. The firm has a 50-day moving average of $48.26 and a 200-day moving average of $47.07. The stock has a market cap of $11.22 billion, a PE ratio of 11.97 and a beta of 1.56.
Unum Group (NYSE:UNM) last posted its quarterly earnings data 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. Unum Group had a return on equity of 10.23% and a net margin of 8.57%. The business had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. On average, analysts forecast that Unum Group will post $4.17 EPS for the current year.
Unum Group declared that its Board of Directors has approved a share repurchase plan on Thursday, May 25th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be given a $0.23 dividend. The ex-dividend date is Thursday, July 27th. This represents a $0.92 annualized dividend and a yield of 1.85%. This is a boost from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s payout ratio is currently 22.17%.
Several equities research analysts have recently commented on UNM shares. BidaskClub raised Unum Group from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Zacks Investment Research raised Unum Group from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, June 28th. Royal Bank Of Canada reissued a “hold” rating and issued a $50.00 price objective on shares of Unum Group in a report on Friday, April 28th. Deutsche Bank AG increased their price objective on Unum Group from $46.00 to $48.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Finally, Wells Fargo & Company reaffirmed a “hold” rating on shares of Unum Group in a report on Sunday, July 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.78.
In other news, EVP Breege A. Farrell sold 15,000 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total transaction of $682,050.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Pamela H. Godwin sold 2,500 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $50.71, for a total value of $126,775.00. The disclosure for this sale can be found here. In 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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