Pitcairn Co. Sells 740 Shares of Unum Group (NYSE:UNM)

Pitcairn Co. trimmed its stake in shares of Unum Group (NYSE:UNM) by 7.0% in the third quarter, HoldingsChannel reports. The firm owned 9,761 shares of the financial services provider’s stock after selling 740 shares during the quarter. Pitcairn Co.’s holdings in Unum Group were worth $580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Unum Group by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,831 shares of the financial services provider’s stock worth $5,679,000 after buying an additional 5,356 shares during the period. Caxton Associates LP acquired a new stake in Unum Group during the 1st quarter worth approximately $260,000. Janus Henderson Group PLC boosted its position in shares of Unum Group by 15.8% in the first quarter. Janus Henderson Group PLC now owns 107,682 shares of the financial services provider’s stock valued at $5,777,000 after acquiring an additional 14,674 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Unum Group by 1.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 182,155 shares of the financial services provider’s stock worth $9,774,000 after purchasing an additional 3,004 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Unum Group by 175.5% in the first quarter. B. Riley Wealth Advisors Inc. now owns 12,763 shares of the financial services provider’s stock valued at $628,000 after buying an additional 8,131 shares during the period. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

UNM has been the subject of a number of recent analyst reports. Bank of America upped their target price on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Truist Financial upped their price target on shares of Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. JPMorgan Chase & Co. reduced their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Barclays increased their target price on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Unum Group presently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Insider Transactions at Unum Group

In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the sale, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total value of $3,727,369.10. Following the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. The trade was a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,709 shares of company stock worth $10,956,914. Company insiders own 0.93% of the company’s stock.

Unum Group Price Performance

Shares of NYSE:UNM opened at $76.21 on Tuesday. The firm has a market cap of $13.92 billion, a PE ratio of 8.25, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76. Unum Group has a 52 week low of $41.97 and a 52 week high of $76.72. The firm’s fifty day moving average is $63.86 and its 200-day moving average is $56.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the company posted $1.94 EPS. The business’s revenue was up 4.0% on a year-over-year basis. Sell-side analysts predict that Unum Group will post 8.53 earnings per share for the current year.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, October 25th were issued a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a yield of 2.20%. Unum Group’s payout ratio is 18.18%.

Unum Group declared that its board has initiated a share buyback plan on Tuesday, July 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 10% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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.