Unum Group (NYSE:UNM) Shares Sold by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan reduced its position in Unum Group (NYSE:UNM) by 7.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,150 shares of the financial services provider’s stock after selling 1,680 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Unum Group were worth $1,033,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. increased its position in shares of Unum Group by 48.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 457,989 shares of the financial services provider’s stock worth $21,476,000 after buying an additional 149,488 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Unum Group during the first quarter worth $342,000. Oakbrook Investments LLC increased its position in shares of Unum Group by 67.5% in the first quarter. Oakbrook Investments LLC now owns 20,100 shares of the financial services provider’s stock worth $942,000 after buying an additional 8,100 shares in the last quarter. Hartford Investment Management Co. increased its position in shares of Unum Group by 1.1% in the first quarter. Hartford Investment Management Co. now owns 59,450 shares of the financial services provider’s stock worth $2,788,000 after buying an additional 663 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Unum Group by 34.5% in the first quarter. Nisa Investment Advisors LLC now owns 77,167 shares of the financial services provider’s stock worth $3,618,000 after buying an additional 19,779 shares in the last quarter. 93.89% of the stock is owned by institutional investors.
Shares of Unum Group (NYSE:UNM) opened at 49.94 on Friday. The company has a market capitalization of $11.27 billion, a P/E ratio of 12.03 and a beta of 1.56. The company’s 50 day moving average is $48.13 and its 200-day moving average is $47.04. Unum Group has a 1-year low of $33.25 and a 1-year high of $51.43.
Unum Group (NYSE:UNM) last posted its quarterly earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the company posted $1.00 EPS. On average, equities research analysts forecast that Unum Group will post $4.17 EPS for the current year.
Unum Group announced that its board has approved 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 purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, July 31st will be paid a $0.23 dividend. This is an increase 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 1.84%. The ex-dividend date of this dividend is Thursday, July 27th. Unum Group’s dividend payout ratio (DPR) is presently 22.17%.
A number of equities analysts have weighed in on the stock. BidaskClub raised shares of Unum Group from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of 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. 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. Finally, Deutsche Bank AG boosted their target price on shares of Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. Unum Group presently has an average rating of “Hold” and an average target price of $46.67.
In related news, Director Pamela H. Godwin sold 2,500 shares of Unum Group stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $50.71, for a total transaction of $126,775.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Breege A. Farrell sold 15,000 shares of Unum Group stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total transaction of $682,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,960 shares of company stock worth $932,391. 0.53% of the stock is currently owned by corporate insiders.
About Unum Group
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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