Unum Group (NYSE:UNM) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans boosted its holdings in shares of Unum Group (NYSE:UNM) by 89.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,831 shares of the financial services provider’s stock after acquiring an additional 52,813 shares during the period. Thrivent Financial for Lutherans’ holdings in Unum Group were worth $6,647,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc raised its position in shares of Unum Group by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 5,551 shares of the financial services provider’s stock worth $330,000 after purchasing an additional 180 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Unum Group by 38.2% in the third quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 194 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Unum Group by 2.2% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock valued at $518,000 after acquiring an additional 217 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Unum Group by 2.8% during the third quarter. Global Retirement Partners LLC now owns 8,292 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 224 shares during the last quarter. Finally, QRG Capital Management Inc. increased its position in Unum Group by 1.8% during the 2nd quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock worth $654,000 after purchasing an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insider Buying and Selling

In related news, EVP Elizabeth Claire Ahmed sold 5,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $64.16, for a total transaction of $320,800.00. Following the sale, the executive vice president now directly owns 58,741 shares in the company, valued at approximately $3,768,822.56. This trade represents a 7.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Christopher W. Pyne sold 3,250 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total value of $227,565.00. Following the completion of the transaction, the executive vice president now owns 50,762 shares of the company’s stock, valued at approximately $3,554,355.24. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 165,709 shares of company stock valued at $10,956,914. Company insiders own 0.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on UNM shares. JPMorgan Chase & Co. decreased their price target on shares of 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 raised their target price on shares of Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. UBS Group upgraded Unum Group to a “hold” rating in a report on Wednesday, October 9th. Wells Fargo & Company raised their price objective on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Truist Financial upped their target price on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.73.

Unum Group Price Performance

UNM stock opened at $75.83 on Friday. The stock has a 50-day moving average price of $63.45 and a two-hundred day moving average price of $56.49. The company has a market cap of $13.85 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 1.06 and a beta of 0.76. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 12-month low of $41.97 and a 12-month high of $76.31.

Unum Group (NYSE:UNM) last posted its 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 net margin of 13.76% and a return on equity of 15.21%. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company earned $1.94 EPS. The company’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that Unum Group will post 8.53 EPS for the current year.

Unum Group announced that its board has authorized a share buyback plan on Tuesday, July 30th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. Unum Group’s payout ratio is 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.