Cambridge Investment Research Advisors Inc. reduced its position in shares of Unum Group (NYSE:UNM) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,855 shares of the financial services provider’s stock after selling 4,306 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Unum Group were worth $848,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Unum Group by 8.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,886,476 shares of the financial services provider’s stock worth $110,376,000 after purchasing an additional 312,667 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Unum Group by 6.3% in the second quarter. Neuberger Berman Group LLC now owns 23,241 shares of the financial services provider’s stock worth $587,000 after purchasing an additional 1,383 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Unum Group by 0.4% in the second quarter. Donald Smith & CO. Inc. now owns 5,208,184 shares of the financial services provider’s stock worth $147,912,000 after purchasing an additional 22,880 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Unum Group by 17.6% in the third quarter. Nisa Investment Advisors LLC now owns 58,496 shares of the financial services provider’s stock worth $1,466,000 after purchasing an additional 8,740 shares during the last quarter. Finally, Greenleaf Trust raised its stake in shares of Unum Group by 0.7% in the second quarter. Greenleaf Trust now owns 62,410 shares of the financial services provider’s stock worth $1,772,000 after purchasing an additional 455 shares during the last quarter. 83.03% of the stock is currently owned by institutional investors and hedge funds.
Unum Group stock opened at $27.89 on Friday. Unum Group has a one year low of $22.25 and a one year high of $31.98. The business has a fifty day moving average price of $24.96 and a 200-day moving average price of $26.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market capitalization of $5.70 billion, a P/E ratio of 7.15, a PEG ratio of 0.69 and a beta of 1.67.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, November 2nd. The financial services provider reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.16 by ($0.13). Unum Group had a return on equity of 8.68% and a net margin of 6.01%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same period in the previous year, the business earned $1.21 earnings per share. Sell-side analysts expect that Unum Group will post 4.35 earnings per share for the current fiscal year.
Unum Group announced that its Board of Directors has initiated a share buyback program on Monday, October 25th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 4.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, November 19th. Stockholders of record on Friday, October 29th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Thursday, October 28th. Unum Group’s payout ratio is currently 30.77%.
Several equities analysts have recently issued reports on UNM shares. Barclays upped their target price on Unum Group from $24.00 to $28.00 and gave the company an “underweight” rating in a report on Tuesday, October 26th. The Goldman Sachs Group began coverage on Unum Group in a report on Thursday, December 2nd. They set a “buy” rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.43.
Unum Group Company Profile
Unum Group is engaged in providing financial protection benefits. It operates through the following segments: Unum US, Unum International, Colonial Life, Closed Block and Corporate. The Unum US segment comprises of group long-term and short-term disability insurance, group life and accidental death and dismemberment products, and supplemental and voluntary lines of business.
Further Reading: Reverse Stock Split
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