Korea Investment CORP Sells 34,744 Shares of Unum Group (UNM)
Korea Investment CORP cut its position in shares of Unum Group (NYSE:UNM) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 588,044 shares of the financial services provider’s stock after selling 34,744 shares during the period. Korea Investment CORP owned 260.20% of Unum Group worth $27,420,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in UNM. Bronfman E.L. Rothschild L.P. raised its position in Unum Group by 1.2% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,434 shares of the financial services provider’s stock worth $114,000 after buying an additional 29 shares during the period. Crestwood Advisors Group LLC acquired a new position in Unum Group during the first quarter worth $150,000. Huntington National Bank raised its position in Unum Group by 25.8% in the second quarter. Huntington National Bank now owns 3,417 shares of the financial services provider’s stock worth $160,000 after buying an additional 700 shares during the period. First Manhattan Co. raised its position in Unum Group by 23.0% in the first quarter. First Manhattan Co. now owns 5,350 shares of the financial services provider’s stock worth $188,000 after buying an additional 1,000 shares during the period. Finally, Coastline Trust Co acquired a new position in Unum Group during the first quarter worth $202,000. 92.96% of the stock is currently owned by hedge funds and other institutional investors.
Unum Group (NYSE UNM) opened at 50.80 on Friday. The company’s 50 day moving average is $47.46 and its 200-day moving average is $46.79. The company has a market capitalization of $11.46 billion, a price-to-earnings ratio of 12.24 and a beta of 1.56. Unum Group has a 52-week low of $32.64 and a 52-week high of $51.10.
Unum Group (NYSE:UNM) last announced its quarterly earnings data on Thursday, July 27th. The financial services provider reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. The company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same period in the prior year, the firm posted $1.00 EPS. Equities analysts anticipate that Unum Group will post $4.17 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $0.92 annualized dividend and a yield of 1.81%. This is a boost from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s dividend payout ratio is currently 22.17%.
Unum Group declared that its board has initiated a stock buyback plan on Thursday, May 25th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
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UNM has been the topic of a number of recent research reports. BidaskClub raised shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research raised shares of Unum Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, June 28th. Royal Bank Of Canada reissued a “hold” rating on shares of Unum Group in a research report on Wednesday, July 12th. Deutsche Bank AG raised their price target on shares of Unum Group from $46.00 to $48.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Finally, Wells Fargo & Company reissued a “hold” rating on shares of Unum Group in a research report on Sunday, July 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Unum Group currently has a consensus rating of “Hold” and a consensus price target of $46.67.
In other Unum Group news, EVP Breege A. Farrell sold 15,000 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $45.47, for a total transaction of $682,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gloria C. Larson sold 2,460 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $50.23, for a total transaction of $123,565.80. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.
Unum Group Company Profile
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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