US Bancorp DE cut its stake in shares of Unum Group (NYSE:UNM) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 137,503 shares of the financial services provider’s stock after selling 2,153 shares during the period. US Bancorp DE owned 0.06% of Unum Group worth $6,412,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of UNM. Vanguard Group Inc. boosted its stake in shares of Unum Group by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,069,527 shares of the financial services provider’s stock worth $1,128,621,000 after buying an additional 732,083 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Unum Group by 2,690.7% in the first quarter. BlackRock Inc. now owns 16,788,648 shares of the financial services provider’s stock worth $787,221,000 after buying an additional 16,187,062 shares during the last quarter. State Street Corp boosted its stake in shares of Unum Group by 5.0% in the first quarter. State Street Corp now owns 12,119,332 shares of the financial services provider’s stock worth $568,278,000 after buying an additional 573,818 shares during the last quarter. Boston Partners boosted its stake in shares of Unum Group by 16.6% in the first quarter. Boston Partners now owns 9,564,880 shares of the financial services provider’s stock worth $448,498,000 after buying an additional 1,358,289 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Unum Group by 32.4% in the first quarter. AQR Capital Management LLC now owns 5,699,745 shares of the financial services provider’s stock worth $267,262,000 after buying an additional 1,395,330 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.
Shares of Unum Group (UNM) opened at 49.70 on Friday. The stock has a market cap of $11.22 billion, a P/E ratio of 11.97 and a beta of 1.56. Unum Group has a 12 month low of $33.65 and a 12 month high of $51.43. The company has a 50 day moving average of $48.26 and a 200 day moving average of $47.07.
Unum Group (NYSE:UNM) last issued its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.04. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. During the same quarter in the previous year, the company earned $1.00 earnings per share. Equities research analysts expect that Unum Group will post $4.17 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, July 27th. This represents a $0.92 dividend on an annualized basis and a yield of 1.85%. This is a boost from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s payout ratio is currently 22.17%.
Unum Group declared that its board has authorized a stock buyback plan on Thursday, May 25th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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A number of analysts recently weighed in on the stock. Barclays PLC raised their target price on shares of Unum Group from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Friday. BidaskClub upgraded shares of Unum Group from a “buy” rating to a “strong-buy” rating in a report on Friday. Deutsche Bank AG raised their target price on shares of Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a report on Wednesday, April 19th. Royal Bank Of Canada restated a “hold” rating on shares of Unum Group in a report on Wednesday, July 12th. Finally, Wells Fargo & Company restated 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 issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Unum Group has an average rating of “Hold” and an average price target of $46.78.
In other news, Director Gloria C. Larson sold 2,460 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $50.23, for a total value of $123,565.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela H. Godwin sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were 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. In the last 90 days, insiders have sold 19,960 shares of company stock valued at $932,391. Corporate insiders own 0.53% of the company’s stock.
About Unum Group
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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