Unum Group (NYSE:UNM) CEO Richard P. Mckenney Sells 50,000 Shares

Unum Group (NYSE:UNM) CEO Richard P. Mckenney sold 50,000 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Unum Group Trading Down 4.2 %

NYSE UNM traded down $3.44 on Tuesday, reaching $77.95. 2,639,632 shares of the company were exchanged, compared to its average volume of 1,151,049. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The business’s fifty day moving average price is $75.10 and its 200 day moving average price is $68.02. The stock has a market capitalization of $14.23 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80. Unum Group has a fifty-two week low of $48.38 and a fifty-two week high of $83.96.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. Analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

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

Unum Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Friday, January 24th. Unum Group’s dividend payout ratio is presently 17.74%.

Institutional Investors Weigh In On Unum Group

Institutional investors have recently modified their holdings of the company. Barrett & Company Inc. lifted its position in shares of Unum Group by 300.0% during the fourth quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 297 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Unum Group during the 3rd quarter worth approximately $31,000. Kestra Investment Management LLC acquired a new stake in Unum Group during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC purchased a new position in Unum Group in the 4th quarter valued at approximately $45,000. Finally, Quarry LP grew its stake in shares of Unum Group by 4,794.7% in the third quarter. Quarry LP now owns 930 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 911 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UNM has been the subject of a number of recent analyst reports. StockNews.com lowered Unum Group from a “buy” rating to a “hold” rating in a research note on Monday, February 24th. Piper Sandler lifted their target price on Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Jefferies Financial Group upped their price objective on shares of Unum Group from $91.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Evercore ISI upgraded shares of Unum Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $67.00 to $84.00 in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 price target (up from $74.00) on shares of Unum Group in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Unum Group presently has a consensus rating of “Moderate Buy” and an average price target of $84.83.

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.