Rampart Investment Management Company LLC Has $446,000 Holdings in Unum Group (UNM)
Rampart Investment Management Company LLC lowered its stake in Unum Group (NYSE:UNM) by 24.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,056 shares of the financial services provider’s stock after selling 3,935 shares during the period. Rampart Investment Management Company LLC’s holdings in Unum Group were worth $446,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in UNM. Cerebellum GP LLC acquired a new stake in shares of Unum Group in the second quarter worth about $176,000. Quadrature Capital Ltd acquired a new stake in shares of Unum Group in the first quarter worth about $222,000. IBM Retirement Fund acquired a new stake in shares of Unum Group in the first quarter worth about $234,000. Investors Asset Management of Georgia Inc. GA ADV acquired a new stake in shares of Unum Group in the second quarter worth about $270,000. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in shares of Unum Group in the first quarter worth about $287,000. 91.17% of the stock is owned by institutional investors.
In related news, EVP Breege A. Farrell sold 7,500 shares of the business’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $40.66, for a total transaction of $304,950.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.40% of the company’s stock.
Unum Group (NYSE:UNM) last posted its quarterly earnings data on Monday, July 30th. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Unum Group had a return on equity of 11.19% and a net margin of 9.42%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. analysts anticipate that Unum Group will post 5.1 EPS for the current year.
Unum Group declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 24th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Monday, July 30th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.90%. This is a positive change from Unum Group’s previous quarterly dividend of $0.23. The ex-dividend date was Friday, July 27th. Unum Group’s payout ratio is currently 24.24%.
A number of equities analysts have recently commented on UNM shares. Zacks Investment Research lowered Unum Group from a “hold” rating to a “sell” rating in a research note on Monday, June 4th. Citigroup set a $44.00 price objective on Unum Group and gave the stock a “hold” rating in a research note on Tuesday, June 12th. Wells Fargo & Co set a $53.00 price objective on Unum Group and gave the stock a “hold” rating in a research note on Thursday, May 24th. ValuEngine lowered Unum Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Finally, Barclays dropped their price objective on 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $53.31.
About Unum Group
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.
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