Meritage Portfolio Management cut its position in shares of Unum Group (NYSE:UNM) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,775 shares of the financial services provider’s stock after selling 1,445 shares during the period. Meritage Portfolio Management’s holdings in Unum Group were worth $5,165,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Parametrica Management Ltd acquired a new position in shares of Unum Group during the first quarter valued at about $475,000. Honkamp Krueger Financial Services Inc. increased its position in shares of Unum Group by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 26,257 shares of the financial services provider’s stock valued at $1,231,000 after buying an additional 472 shares in the last quarter. Regentatlantic Capital LLC boosted its stake in shares of Unum Group by 5.5% in the first quarter. Regentatlantic Capital LLC now owns 30,555 shares of the financial services provider’s stock valued at $1,433,000 after buying an additional 1,597 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Unum Group by 37.2% in the first quarter. Bank of Montreal Can now owns 3,594,160 shares of the financial services provider’s stock valued at $168,531,000 after buying an additional 974,090 shares during the last quarter. Finally, National Pension Service boosted its stake in shares of Unum Group by 16,078.3% in the first quarter. National Pension Service now owns 233,453 shares of the financial services provider’s stock valued at $10,930,000 after buying an additional 232,010 shares during the last quarter. Institutional investors own 92.84% of the company’s stock.
Unum Group (NYSE:UNM) opened at 49.50 on Thursday. Unum Group has a 12-month low of $33.82 and a 12-month high of $51.43. The stock’s 50 day moving average is $48.64 and its 200 day moving average is $47.17. The stock has a market capitalization of $11.17 billion, a PE ratio of 11.92 and a beta of 1.56.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $1.01 by $0.04. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate 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 last year, the firm posted $1.00 earnings per share. Analysts forecast that Unum Group will post $4.17 EPS for the current year.
Unum Group declared that its Board of Directors has initiated a stock repurchase program on Thursday, May 25th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, July 27th. This is an increase from Unum Group’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 1.86%. Unum Group’s dividend payout ratio (DPR) is 22.17%.
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UNM has been the topic of several recent analyst reports. 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 target price on the stock in a report on Wednesday, June 28th. Royal Bank Of Canada reissued a “hold” rating and set a $50.00 target price on shares of Unum Group in a report on Friday, April 28th. Deutsche Bank AG upped their price target 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 investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $46.78.
In other Unum Group news, EVP Breege A. Farrell sold 15,000 shares of Unum Group stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $45.47, for a total transaction of $682,050.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela H. Godwin sold 2,500 shares of Unum Group stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $50.71, for a total transaction of $126,775.00. The disclosure for this sale can be found here. Insiders have sold 19,960 shares of company stock worth $932,391 over the last three months. Insiders own 0.53% of the company’s stock.
Unum Group Company Profile
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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