Unum Group (NYSE:UNM) Short Interest Update

Unum Group (NYSE:UNM) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 3,780,000 shares, a drop of 14.3% from the June 15th total of 4,410,000 shares. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.0% of the company’s stock are short sold.

Unum Group Stock Performance

Shares of NYSE:UNM traded up $0.68 during trading on Tuesday, reaching $53.63. The company had a trading volume of 1,225,350 shares, compared to its average volume of 1,265,665. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 7.97, a price-to-earnings-growth ratio of 1.03 and a beta of 0.81. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.28 and a quick ratio of 0.28. The stock’s fifty day moving average price is $51.59 and its 200 day moving average price is $50.31. Unum Group has a fifty-two week low of $41.75 and a fifty-two week high of $54.57.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, April 30th. The financial services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15. Unum Group had a return on equity of 16.02% and a net margin of 10.52%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the company posted $1.87 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities research analysts predict that Unum Group will post 8.25 EPS for the current year.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, July 26th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.13%. This is an increase from Unum Group’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, July 26th. Unum Group’s payout ratio is presently 21.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on UNM shares. Piper Sandler started coverage on Unum Group in a research note on Thursday, July 11th. They set an “overweight” rating and a $57.00 target price for the company. Evercore ISI boosted their target price on Unum Group from $56.00 to $58.00 and gave the stock an “in-line” rating in a research note on Wednesday, June 26th. Jefferies Financial Group boosted their target price on Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Morgan Stanley lifted their price target on Unum Group from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Finally, JPMorgan Chase & Co. lifted their price target on Unum Group from $58.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.22.

Insider Activity

In other news, Director Timothy F. Keaney sold 8,000 shares of Unum Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the transaction, the director now owns 37,505 shares in the company, valued at approximately $1,973,138.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Timothy F. Keaney sold 8,000 shares of Unum Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $52.61, for a total value of $420,880.00. Following the completion of the transaction, the director now owns 37,505 shares in the company, valued at approximately $1,973,138.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher W. Pyne sold 4,500 shares of Unum Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $52.47, for a total value of $236,115.00. Following the completion of the transaction, the executive vice president now owns 56,262 shares of the company’s stock, valued at approximately $2,952,067.14. The disclosure for this sale can be found here. Company insiders own 0.93% of the company’s stock.

Institutional Trading of Unum Group

A number of institutional investors have recently bought and sold shares of UNM. Comerica Bank purchased a new stake in Unum Group during the third quarter worth $6,439,000. American Century Companies Inc. lifted its position in shares of Unum Group by 14.9% in the third quarter. American Century Companies Inc. now owns 222,878 shares of the financial services provider’s stock valued at $10,963,000 after acquiring an additional 28,898 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Unum Group by 9.2% in the third quarter. B. Riley Wealth Advisors Inc. now owns 12,763 shares of the financial services provider’s stock valued at $628,000 after acquiring an additional 1,074 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in shares of Unum Group by 91.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 63,810 shares of the financial services provider’s stock valued at $3,138,000 after acquiring an additional 30,555 shares in the last quarter. Finally, Wedmont Private Capital lifted its position in shares of Unum Group by 6.3% in the fourth quarter. Wedmont Private Capital now owns 4,655 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 274 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Company Profile

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.