Key Points
- Unum Group CAO Walter Lynn Rice, Jr. sold 900 shares on December 9 at an average price of $73.50, receiving $66,150 and reducing his ownership by 9.15% to 8,940 shares (≈$657,090).
- The board authorized a $1.00 billion share repurchase program on December 4, permitting buybacks of roughly 8.2% of outstanding shares and signaling management believes the stock may be undervalued.
- Unum reported quarterly EPS of $2.09 (missing estimates by $0.06) with revenue of $3.25 billion (up 5% year-over-year), and pays a quarterly dividend of $0.46 (≈2.4% yield).
Unum Group (NYSE:UNM - Get Free Report) CAO Walter Lynn Rice, Jr. sold 900 shares of the business's stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $73.50, for a total value of $66,150.00. Following the completion of the transaction, the chief accounting officer directly owned 8,940 shares in the company, valued at approximately $657,090. This trade represents a 9.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Unum Group Stock Performance
Shares of UNM stock opened at $76.64 on Friday. The firm has a 50 day moving average of $75.89 and a 200-day moving average of $76.22. The company has a market cap of $12.82 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.45 and a beta of 0.20. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. Unum Group has a 52 week low of $66.81 and a 52 week high of $84.48.
Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.15 by ($0.06). Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the company earned $2.13 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. On average, equities analysts forecast that Unum Group will post 9.14 earnings per share for the current year.
Unum Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were issued a dividend of $0.46 per share. The ex-dividend date was Friday, October 24th. This represents a $1.84 annualized dividend and a dividend yield of 2.4%. Unum Group's payout ratio is currently 35.87%.
Unum Group declared that its Board of Directors has initiated a share repurchase program on Thursday, December 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of UNM. Quintet Private Bank Europe S.A. bought a new stake in shares of Unum Group during the 2nd quarter worth $28,000. Legacy Investment Solutions LLC purchased a new stake in Unum Group during the second quarter worth about $30,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Unum Group during the first quarter worth about $30,000. Atwood & Palmer Inc. raised its position in Unum Group by 100.0% in the second quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider's stock worth $32,000 after acquiring an additional 200 shares during the period. Finally, Triumph Capital Management purchased a new position in Unum Group in the third quarter valued at about $31,000. Institutional investors own 86.57% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Wolfe Research upgraded shares of Unum Group to a "strong-buy" rating in a report on Tuesday, September 16th. Weiss Ratings restated a "buy (b-)" rating on shares of Unum Group in a report on Monday. Morgan Stanley lifted their price target on Unum Group from $79.00 to $81.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 7th. JPMorgan Chase & Co. decreased their price objective on Unum Group from $94.00 to $92.00 and set a "neutral" rating for the company in a report on Tuesday, November 4th. Finally, Evercore ISI raised their target price on Unum Group from $96.00 to $99.00 and gave the company an "outperform" rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Unum Group has an average rating of "Moderate Buy" and a consensus target price of $94.55.
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About Unum Group
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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.
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