Unum Group (NYSE:UNM) Shares Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its position in shares of Unum Group (NYSE:UNM) by 1,020.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,725 shares of the financial services provider’s stock after buying an additional 50,751 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Unum Group were worth $3,312,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in UNM. Cerity Partners LLC raised its holdings in Unum Group by 57.0% in the 3rd quarter. Cerity Partners LLC now owns 71,667 shares of the financial services provider’s stock worth $4,260,000 after purchasing an additional 26,010 shares during the period. Citigroup Inc. increased its position in shares of Unum Group by 15.1% in the third quarter. Citigroup Inc. now owns 62,491 shares of the financial services provider’s stock valued at $3,714,000 after buying an additional 8,186 shares in the last quarter. AlphaCore Capital LLC raised its stake in shares of Unum Group by 3.5% during the 3rd quarter. AlphaCore Capital LLC now owns 99,274 shares of the financial services provider’s stock worth $5,901,000 after buying an additional 3,331 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Unum Group by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,500,508 shares of the financial services provider’s stock valued at $326,950,000 after buying an additional 55,014 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. acquired a new stake in Unum Group in the 3rd quarter valued at $245,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Christopher W. Pyne sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.02, for a total transaction of $227,565.00. Following the sale, the executive vice president now owns 50,762 shares of the company’s stock, valued at approximately $3,554,355.24. This trade represents a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the transaction, the chief accounting officer now directly owns 8,361 shares in the company, valued at $581,591.16. This represents a 15.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 165,709 shares of company stock worth $10,956,914 in the last quarter. 0.93% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on UNM shares. JPMorgan Chase & Co. decreased their price objective on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Piper Sandler reaffirmed an “overweight” rating and issued a $66.00 price target (up from $64.00) on shares of Unum Group in a research note on Friday, September 27th. UBS Group upgraded Unum Group to a “hold” rating in a research note on Wednesday, October 9th. Truist Financial raised their target price on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price target on Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Unum Group Stock Up 0.5 %

Shares of UNM opened at $75.84 on Monday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.85 billion, a P/E ratio of 8.21, a price-to-earnings-growth ratio of 1.11 and a beta of 0.76. The company’s 50-day moving average price is $63.86 and its 200 day moving average price is $56.71. Unum Group has a 12-month low of $41.97 and a 12-month high of $76.31.

Unum Group (NYSE:UNM) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 earnings per share. On average, sell-side analysts forecast that Unum Group will post 8.53 earnings per share for the current year.

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

Unum Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders 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 yield of 2.22%. Unum Group’s dividend payout ratio (DPR) is 18.18%.

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.