Unum Group $UNM Shares Sold by Brant Point Investment Management LLC

Brant Point Investment Management LLC reduced its holdings in Unum Group (NYSE:UNM) by 17.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,453 shares of the financial services provider’s stock after selling 19,198 shares during the quarter. Unum Group accounts for 0.8% of Brant Point Investment Management LLC’s holdings, making the stock its 14th biggest position. Brant Point Investment Management LLC’s holdings in Unum Group were worth $7,224,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of Unum Group by 42.7% in the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 26,681 shares of the financial services provider’s stock valued at $2,155,000 after purchasing an additional 7,981 shares in the last quarter. BTC Capital Management Inc. raised its position in Unum Group by 5.0% during the second quarter. BTC Capital Management Inc. now owns 71,836 shares of the financial services provider’s stock valued at $5,731,000 after buying an additional 3,399 shares during the period. HighTower Advisors LLC lifted its stake in Unum Group by 0.3% in the 1st quarter. HighTower Advisors LLC now owns 60,370 shares of the financial services provider’s stock worth $4,918,000 after acquiring an additional 201 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Unum Group during the 1st quarter worth about $646,000. Finally, Royal Bank of Canada boosted its position in Unum Group by 0.5% during the 1st quarter. Royal Bank of Canada now owns 1,416,124 shares of the financial services provider’s stock worth $115,358,000 after acquiring an additional 6,648 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Unum Group Price Performance

NYSE UNM opened at $74.32 on Monday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $12.44 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.45 and a beta of 0.20. Unum Group has a 12-month low of $66.81 and a 12-month high of $84.48. The company has a 50 day moving average price of $76.19 and a two-hundred day moving average price of $76.33.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). Unum Group had a net margin of 6.99% and a return on equity of 13.09%. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter in the prior year, the business posted $2.13 EPS. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. As a group, equities analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.5%. The ex-dividend date was Friday, October 24th. Unum Group’s dividend payout ratio (DPR) is 35.87%.

Unum Group announced that its Board of Directors has authorized a share buyback program on Thursday, December 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on UNM. Wells Fargo & Company dropped their target price on Unum Group from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Morgan Stanley upped their price objective on shares of Unum Group from $79.00 to $81.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 7th. Wolfe Research upgraded shares of Unum Group to a “strong-buy” rating in a research report on Tuesday, September 16th. JPMorgan Chase & Co. lowered their price target on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating on the stock in a report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Unum Group in a research note on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Unum Group presently has a consensus rating of “Moderate Buy” and an average price target of $94.67.

Insider Transactions at Unum Group

In other news, EVP Steven Andrew Zabel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $76.38, for a total transaction of $572,850.00. Following the completion of the sale, the executive vice president owned 113,807 shares in the company, valued at approximately $8,692,578.66. This represents a 6.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christopher W. Pyne sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $78.04, for a total value of $312,160.00. Following the completion of the transaction, the executive vice president directly owned 51,372 shares in the company, valued at $4,009,070.88. The trade was a 7.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.93% of the stock is owned by insiders.

About Unum Group

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.