Boston Partners Lowers Position in Unum Group (NYSE:UNM)
Boston Partners lowered its stake in shares of Unum Group (NYSE:UNM) by 13.4% during the second quarter, Holdings Channel reports. The institutional investor owned 8,286,995 shares of the financial services provider’s stock after selling 1,277,885 shares during the period. Boston Partners owned 36.67% of Unum Group worth $386,423,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. boosted its position in shares of 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 valued at $114,000 after buying an additional 29 shares in the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of Unum Group during the first quarter valued at $150,000. Huntington National Bank boosted its position in shares of Unum Group by 25.8% in the second quarter. Huntington National Bank now owns 3,417 shares of the financial services provider’s stock valued at $160,000 after buying an additional 700 shares in the last quarter. Coastline Trust Co purchased a new position in shares of Unum Group during the first quarter valued at $202,000. Finally, Pacer Advisors Inc. boosted its position in shares of Unum Group by 3.2% in the first quarter. Pacer Advisors Inc. now owns 4,366 shares of the financial services provider’s stock valued at $205,000 after buying an additional 134 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.
Unum Group (UNM) opened at 50.76 on Thursday. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 12.23 and a beta of 1.56. The company has a 50 day moving average price of $48.02 and a 200-day moving average price of $47.02. Unum Group has a 52-week low of $33.25 and a 52-week high of $51.43.
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, topping analysts’ consensus estimates of $1.01 by $0.04. Unum Group had a return on equity of 10.23% and a net margin of 8.57%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the previous year, the firm earned $1.00 earnings per share. Equities research analysts anticipate that Unum Group will post $4.17 EPS for the current year.
Unum Group declared that its board has initiated a share repurchase plan on Thursday, May 25th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the financial services provider to purchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Investors 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 is a boost from Unum Group’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.81%. Unum Group’s payout ratio is 22.17%.
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Several research analysts recently weighed in on the company. BidaskClub raised Unum Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Wells Fargo & Company reaffirmed a “hold” rating on shares of Unum Group in a research note on Sunday, July 30th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Unum Group in a research note on Wednesday, July 12th. Zacks Investment Research raised Unum Group from a “sell” rating to a “hold” rating and set a $56.00 target price for the company in a research note on Monday, July 31st. Finally, Deutsche Bank AG raised their target price on Unum Group from $46.00 to $48.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $46.67.
In other Unum Group news, Director Pamela H. Godwin sold 2,500 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $50.71, for a total value of $126,775.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gloria C. Larson sold 2,460 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $50.23, for a total value of $123,565.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,960 shares of company stock valued at $932,391. 0.53% of the stock is owned by 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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