Twin Capital Management Inc. Acquires 17,381 Shares of Unum Group (UNM)
Twin Capital Management Inc. lifted its holdings in Unum Group (NYSE:UNM) by 57.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 47,591 shares of the financial services provider’s stock after buying an additional 17,381 shares during the quarter. Twin Capital Management Inc.’s holdings in Unum Group were worth $1,760,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. ING Groep NV lifted its position in Unum Group by 6.0% in the 1st quarter. ING Groep NV now owns 22,607 shares of the financial services provider’s stock valued at $1,076,000 after purchasing an additional 1,272 shares during the last quarter. Stephens Inc. AR lifted its position in Unum Group by 6.8% in the 1st quarter. Stephens Inc. AR now owns 20,510 shares of the financial services provider’s stock valued at $976,000 after purchasing an additional 1,314 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Unum Group by 4.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 36,450 shares of the financial services provider’s stock valued at $1,736,000 after purchasing an additional 1,463 shares during the last quarter. LS Investment Advisors LLC lifted its position in Unum Group by 13.1% in the 2nd quarter. LS Investment Advisors LLC now owns 13,902 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,607 shares during the last quarter. Finally, Montecito Bank & Trust lifted its position in Unum Group by 25.8% in the 2nd quarter. Montecito Bank & Trust now owns 8,516 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 1,745 shares during the last quarter. Institutional investors own 91.17% of the company’s stock.
UNM has been the topic of several recent research reports. ValuEngine downgraded shares of Unum Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 22nd. Wells Fargo & Co set a $53.00 target price on shares of Unum Group and gave the company a “hold” rating in a research note on Thursday, May 24th. Zacks Investment Research cut shares of Unum Group from a “hold” rating to a “sell” rating in a research note on Monday, June 4th. Citigroup set a $44.00 target price on shares of Unum Group and gave the company a “hold” rating in a research note on Tuesday, June 12th. Finally, Barclays lowered their target price on shares of Unum Group from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, July 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $53.31.
Unum Group (NYSE:UNM) last released its earnings results on Monday, July 30th. The financial services provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.03. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Unum Group had a net margin of 9.42% and a return on equity of 11.19%. Unum Group’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. research analysts forecast that Unum Group will post 5.1 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Stockholders of record on Monday, July 30th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, July 27th. This represents a $1.04 annualized dividend and a dividend yield of 2.85%. This is a boost from Unum Group’s previous quarterly dividend of $0.23. Unum Group’s payout ratio is currently 24.24%.
Unum Group declared that its Board of Directors has initiated a stock buyback program on Thursday, May 24th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other news, EVP Breege A. Farrell sold 7,500 shares of Unum Group stock in a transaction that occurred on Tuesday, July 31st. The shares were sold at an average price of $40.66, for a total value of $304,950.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.40% of the company’s stock.
Unum Group Company Profile
Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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