Unum Group (NYSE:UNM) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its holdings in Unum Group (NYSE:UNM) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 351,465 shares of the financial services provider’s stock after buying an additional 2,492 shares during the quarter. Truist Financial Corp’s holdings in Unum Group were worth $25,667,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Unum Group by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock worth $326,950,000 after purchasing an additional 55,014 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Unum Group by 50.0% during the third quarter. Franklin Resources Inc. now owns 469,342 shares of the financial services provider’s stock worth $29,554,000 after purchasing an additional 156,380 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Unum Group by 44.1% during the fourth quarter. Blue Trust Inc. now owns 16,495 shares of the financial services provider’s stock worth $1,205,000 after purchasing an additional 5,047 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Unum Group by 89.5% during the third quarter. Thrivent Financial for Lutherans now owns 111,831 shares of the financial services provider’s stock worth $6,647,000 after purchasing an additional 52,813 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Unum Group during the third quarter worth $1,074,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Price Performance

Shares of NYSE:UNM opened at $73.98 on Wednesday. The company has a 50-day simple moving average of $74.19 and a 200-day simple moving average of $66.35. Unum Group has a one year low of $48.38 and a one year high of $79.43. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.29. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 1.17 and a beta of 0.80.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, February 4th. The financial services provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, analysts predict that Unum Group will post 9.12 EPS for the current year.

Unum Group declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 24th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, January 24th. This represents a $1.68 annualized dividend and a yield of 2.27%. Unum Group’s dividend payout ratio is currently 17.74%.

Insider Buying and Selling

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $76.92, for a total transaction of $769,200.00. Following the completion of the transaction, the executive vice president now directly owns 54,827 shares of the company’s stock, valued at $4,217,292.84. This represents a 15.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard P. Mckenney sold 58,865 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $75.39, for a total transaction of $4,437,832.35. Following the transaction, the chief executive officer now directly owns 1,007,003 shares of the company’s stock, valued at $75,917,956.17. This represents a 5.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,865 shares of company stock valued at $5,952,032 over the last ninety days. Corporate insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

UNM has been the subject of a number of analyst reports. Truist Financial boosted their target price on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler boosted their price target on shares of Unum Group from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. BMO Capital Markets assumed coverage on shares of Unum Group in a research report on Thursday, January 23rd. They issued an “outperform” rating and a $91.00 price target for the company. Jefferies Financial Group boosted their price target on shares of Unum Group from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company boosted their price target on shares of Unum Group from $74.00 to $81.00 and gave the company an “overweight” rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.33.

About Unum Group

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.