Oakbrook Investments LLC reduced its position in shares of Unum Group (NYSE:UNM) by 6.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,780 shares of the financial services provider’s stock after selling 1,320 shares during the period. Oakbrook Investments LLC’s holdings in Unum Group were worth $876,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Keybank National Association OH increased its position in Unum Group by 4.6% in the first quarter. Keybank National Association OH now owns 24,107 shares of the financial services provider’s stock worth $1,130,000 after buying an additional 1,067 shares during the period. Achmea Investment Management B.V. bought a new position in Unum Group during the first quarter worth approximately $3,930,000. State of Tennessee Treasury Department increased its position in Unum Group by 64.0% in the first quarter. State of Tennessee Treasury Department now owns 175,796 shares of the financial services provider’s stock worth $8,244,000 after buying an additional 68,624 shares during the period. Flinton Capital Management LLC increased its position in Unum Group by 13.0% in the first quarter. Flinton Capital Management LLC now owns 142,688 shares of the financial services provider’s stock worth $6,691,000 after buying an additional 16,408 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Unum Group during the fourth quarter worth approximately $3,927,000. 93.11% of the stock is owned by institutional investors and hedge funds.
Unum Group (NYSE:UNM) opened at 48.02 on Monday. The firm has a market capitalization of $10.96 billion, a price-to-earnings ratio of 11.79 and a beta of 1.55. Unum Group has a 12 month low of $32.05 and a 12 month high of $50.27. The stock’s 50 day moving average price is $46.62 and its 200-day moving average price is $46.52.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Wednesday, April 26th. The financial services provider reported $1.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.00 by $0.02. Unum Group had a return on equity of 10.23% and a net margin of 8.54%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The company’s revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Unum Group will post $4.10 EPS for the current fiscal year.
Unum Group declared that its Board of Directors has approved a stock buyback plan on Thursday, May 25th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 27th. This is a positive change from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s payout ratio is currently 19.61%.
A number of research analysts have issued reports on UNM shares. BidaskClub upgraded Unum Group from a “hold” rating to a “buy” rating in a research report on Tuesday, July 11th. Zacks Investment Research upgraded Unum Group from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research report on Wednesday, June 28th. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 target price on shares of Unum Group in a research report on Friday, April 28th. Finally, Deutsche Bank AG lifted their target price on Unum Group from $46.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.10.
In other news, EVP Michael Q. Simonds sold 5,000 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $46.61, for a total value of $233,050.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold 20,260 shares of company stock valued at $927,174 in the last three months. 0.53% of the stock is currently 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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