Trexquant Investment LP Takes Position in Unum Group (UNM)
Trexquant Investment LP acquired a new stake in shares of Unum Group (NYSE:UNM) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 24,089 shares of the financial services provider’s stock, valued at approximately $1,123,000. Trexquant Investment LP owned approximately 0.11% of Unum Group as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its stake 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 valued at $114,000 after buying an additional 29 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in Unum Group during the first quarter valued at about $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 valued at $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 valued at $188,000 after buying an additional 1,000 shares during the period. Finally, Coastline Trust Co bought a new position in Unum Group during the first quarter valued at about $202,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.
Shares of Unum Group (UNM) opened at 50.76 on Thursday. The stock’s 50 day moving average price is $48.02 and its 200-day moving average price is $47.02. The stock has a market cap of $11.46 billion, a price-to-earnings ratio of 12.23 and a beta of 1.56. Unum Group has a 52 week low of $32.64 and a 52 week high of $51.43.
Unum Group (NYSE:UNM) last issued its earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the company earned $1.00 EPS. Equities analysts anticipate that Unum Group will post $4.17 earnings per share for the current fiscal year.
Unum Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, May 25th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Thursday, July 27th. This is a positive change from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s dividend payout ratio (DPR) is 22.17%.
Several equities analysts have issued reports on UNM shares. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 target price on shares of Unum Group in a research note on Friday, April 28th. Deutsche Bank AG lifted 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. BidaskClub upgraded Unum Group from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Zacks Investment Research lowered Unum Group from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Finally, Wells Fargo & Company reiterated a “hold” rating on shares of Unum Group in a research note on Sunday, July 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Unum Group has an average rating of “Hold” and a consensus price target of $46.67.
In other news, Director Gloria C. Larson sold 2,460 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $50.23, for a total transaction of $123,565.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Breege A. Farrell sold 15,000 shares of the firm’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $45.47, for a total value of $682,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 19,960 shares of company stock worth $932,391 in the last three months. Corporate insiders own 0.53% of the company’s stock.
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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