Unum Group (NYSE:UNM) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its stake in shares of Unum Group (NYSE:UNM) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 360,634 shares of the financial services provider’s stock after selling 87,319 shares during the period. Bank of America Corp DE owned 0.20% of Unum Group worth $26,337,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Brookstone Capital Management acquired a new stake in Unum Group in the 4th quarter worth about $251,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Unum Group by 28.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after buying an additional 179 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Unum Group by 1.9% in the 4th quarter. Ritholtz Wealth Management now owns 34,177 shares of the financial services provider’s stock worth $2,496,000 after buying an additional 637 shares during the last quarter. Boston Common Asset Management LLC boosted its stake in Unum Group by 19.6% in the 4th quarter. Boston Common Asset Management LLC now owns 69,278 shares of the financial services provider’s stock worth $5,059,000 after buying an additional 11,373 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Unum Group in the 4th quarter worth about $328,000. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Price Performance

Shares of NYSE UNM opened at $82.07 on Friday. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $84.48. The business has a 50 day moving average price of $78.56 and a two-hundred day moving average price of $75.78. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The firm has a market cap of $14.31 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 1.14 and a beta of 0.38.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing analysts’ consensus estimates of $2.19 by ($0.15). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. During the same quarter last year, the business earned $2.12 EPS. Unum Group’s revenue for the quarter was down 3.4% compared to the same quarter last year. Sell-side analysts expect that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were given a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.05%. Unum Group’s payout ratio is 19.79%.

Unum Group announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 7.4% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Raymond James raised Unum Group from a “market perform” rating to a “strong-buy” rating and set a $108.00 price target on the stock in a research note on Wednesday, March 5th. Keefe, Bruyette & Woods cut their price objective on Unum Group from $103.00 to $102.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. JPMorgan Chase & Co. raised their price objective on Unum Group from $81.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, April 2nd. Piper Sandler raised their price objective on Unum Group from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, April 2nd. Finally, Wells Fargo & Company raised their price objective on Unum Group from $95.00 to $97.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Unum Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.50.

Insider Transactions at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of Unum Group stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the completion of the transaction, the executive vice president now owns 51,170 shares in the company, valued at approximately $4,093,600. This trade represents a 16.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 50,000 shares of Unum Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $81.99, for a total value of $4,099,500.00. Following the completion of the transaction, the chief executive officer now owns 980,637 shares of the company’s stock, valued at approximately $80,402,427.63. The trade was a 4.85% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,000 shares of company stock worth $5,478,750. 0.92% of the stock is currently owned by corporate insiders.

Unum Group 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.