Gateway Investment Advisers LLC cut its stake in Unum Group (NYSE:UNM) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,841 shares of the financial services provider’s stock after selling 69 shares during the period. Gateway Investment Advisers LLC’s holdings in Unum Group were worth $645,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Bronfman E.L. Rothschild L.P. increased its stake in shares of 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 period. Crestwood Advisors Group LLC purchased a new position in Unum Group during the first quarter valued at $150,000. Coastline Trust Co purchased a new position in Unum Group during the first quarter valued at $202,000. Federated Investors Inc. PA boosted its position 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 in the last quarter. Finally, Pacer Advisors Inc. boosted its position in Unum Group by 3.2% in the first 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. Institutional investors own 92.84% of the company’s stock.
Shares of Unum Group (UNM) traded down 0.48% during trading on Friday, hitting $47.93. The stock had a trading volume of 1,608,398 shares. The company has a market capitalization of $10.82 billion, a price-to-earnings ratio of 11.54 and a beta of 1.56. Unum Group has a 52 week low of $33.95 and a 52 week high of $51.43. The company’s 50 day moving average price is $48.73 and its 200 day moving average price is $47.19.
Unum Group (NYSE:UNM) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.04. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations 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 in the previous year, the company earned $1.00 EPS. Analysts predict that Unum Group will post $4.17 earnings per share for the current year.
Unum Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 25th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 7.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, July 31st were given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.92%. This is a boost from Unum Group’s previous quarterly dividend of $0.20. The ex-dividend date was Thursday, July 27th. Unum Group’s payout ratio is 22.17%.
Several research firms have recently weighed in on UNM. Zacks Investment Research raised Unum Group from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Thursday. BidaskClub cut Unum Group from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Barclays PLC increased their price target on Unum Group from $56.00 to $57.00 and gave the company an “overweight” rating in a research report on Friday, August 11th. Wells Fargo & Company reissued a “hold” rating on shares of Unum Group in a research report on Sunday, July 30th. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Unum Group in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $46.78.
In other Unum Group news, EVP Breege A. Farrell sold 15,000 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $45.47, for a total value of $682,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gloria C. Larson sold 2,460 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were 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 valued at $932,391. 0.53% of the stock is owned by corporate insiders.
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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