Amalgamated Bank Reduces Holdings in Unum Group (NYSE:UNM)

Amalgamated Bank lowered its position in shares of Unum Group (NYSE:UNM) by 27.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,427 shares of the financial services provider’s stock after selling 31,400 shares during the period. Amalgamated Bank’s holdings in Unum Group were worth $4,899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in shares of Unum Group in the first quarter valued at approximately $1,130,000. Tidal Investments LLC grew its position in Unum Group by 80.7% during the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock worth $3,436,000 after purchasing an additional 28,580 shares during the last quarter. Wedge Capital Management L L P NC increased its stake in Unum Group by 8.0% in the second quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock valued at $44,609,000 after purchasing an additional 64,661 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Unum Group in the first quarter valued at about $703,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Unum Group by 54.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 78,514 shares of the financial services provider’s stock worth $4,150,000 after buying an additional 27,599 shares during the period. 86.57% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays boosted their target price on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Bank of America raised their target price on shares of Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price target on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a report on Friday, September 27th. Finally, Morgan Stanley increased their target price on Unum Group from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and a consensus target price of $66.09.

Insider Activity

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $64.16, for a total value of $320,800.00. Following the transaction, the executive vice president now directly owns 58,741 shares of the company’s stock, valued at approximately $3,768,822.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth Claire Ahmed sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $64.16, for a total transaction of $320,800.00. Following the completion of the transaction, the executive vice president now owns 58,741 shares in the company, valued at $3,768,822.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,795 shares of company stock valued at $4,589,269 in the last ninety days. Company insiders own 0.93% of the company’s stock.

Unum Group Trading Down 1.2 %

Shares of Unum Group stock opened at $69.37 on Friday. The firm has a market cap of $12.67 billion, a PE ratio of 7.51, a P/E/G ratio of 0.94 and a beta of 0.76. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a fifty-two week low of $41.86 and a fifty-two week high of $70.40. The business’s fifty day moving average is $59.98 and its two-hundred day moving average is $55.06.

Unum Group (NYSE:UNM) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $1.94 EPS. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts anticipate that Unum Group will post 8.52 earnings per share for the current year.

Unum Group declared that its board has approved a stock repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a $0.42 dividend. The ex-dividend date is Friday, October 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.42%. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

Unum Group 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.