Unum Group (NYSE:UNM) Reaches New 12-Month High – Here’s What Happened

Shares of Unum Group (NYSE:UNM) hit a new 52-week high on Monday . The company traded as high as $76.45 and last traded at $76.22, with a volume of 364692 shares changing hands. The stock had previously closed at $75.84.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on UNM. UBS Group upgraded Unum Group to a “hold” rating in a research report on Wednesday, October 9th. Piper Sandler restated an “overweight” rating and issued a $66.00 price target (up previously from $64.00) on shares of Unum Group in a research report on Friday, September 27th. JPMorgan Chase & Co. dropped their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Finally, Barclays lifted their price objective on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four equities research 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 Trading Up 1.1 %

The business has a 50 day simple moving average of $64.66 and a 200-day simple moving average of $57.04. 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 stock has a market capitalization of $14.07 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 1.12 and a beta of 0.76.

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. On average, equities analysts predict that Unum Group will post 8.53 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 15th. Stockholders of record on Friday, October 25th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Friday, October 25th. Unum Group’s dividend payout ratio is currently 18.18%.

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

Insider Activity

In other news, EVP Elizabeth Claire Ahmed sold 5,000 shares of Unum Group stock in a transaction dated 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 $3,768,822.56. The trade was a 7.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 165,709 shares of company stock valued at $10,956,914 in the last three months. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On Unum Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc lifted its position in 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 acquiring an additional 180 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Unum Group by 38.2% during the 3rd 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 in the last quarter. Brooklyn Investment Group lifted its position in Unum Group by 3.1% during the 3rd quarter. Brooklyn Investment Group now owns 6,592 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 197 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Unum Group by 2.2% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 217 shares in the last quarter. Finally, Caprock Group LLC lifted its position in Unum Group by 1.8% during the 3rd quarter. Caprock Group LLC now owns 12,308 shares of the financial services provider’s stock worth $732,000 after acquiring an additional 221 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

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.