Westpac Banking Corp lowered its position in shares of Unum Group (NYSE:UNM) by 96.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,180 shares of the financial services provider’s stock after selling 384,713 shares during the quarter. Westpac Banking Corp’s holdings in Unum Group were worth $708,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. lifted its holdings in Unum Group by 1.2% during 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 purchasing an additional 29 shares in the last quarter. HM Payson & Co. lifted its holdings in Unum Group by 0.5% during the second quarter. HM Payson & Co. now owns 12,527 shares of the financial services provider’s stock valued at $584,000 after purchasing an additional 62 shares in the last quarter. Honkamp Krueger Financial Services Inc. lifted its holdings in Unum Group by 0.3% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 26,338 shares of the financial services provider’s stock valued at $1,228,000 after purchasing an additional 81 shares in the last quarter. Louisiana State Employees Retirement System lifted its holdings in Unum Group by 0.7% during the second quarter. Louisiana State Employees Retirement System now owns 14,200 shares of the financial services provider’s stock valued at $662,000 after purchasing an additional 100 shares in the last quarter. Finally, Newman Dignan & Sheerar Inc. lifted its holdings in Unum Group by 0.6% during the second quarter. Newman Dignan & Sheerar Inc. now owns 15,954 shares of the financial services provider’s stock valued at $744,000 after purchasing an additional 100 shares in the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.
Shares of Unum Group (UNM) opened at 48.53 on Wednesday. Unum Group has a 52-week low of $33.98 and a 52-week high of $51.43. The company has a market cap of $10.95 billion, a PE ratio of 11.69 and a beta of 1.57. The stock’s 50 day moving average is $48.87 and its 200 day moving average is $47.22.
Unum Group (NYSE:UNM) last announced its earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the firm posted $1.00 EPS. Equities analysts forecast that Unum Group will post $4.17 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, July 31st were issued a $0.23 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.92 dividend on an annualized basis and a yield of 1.90%. This is a positive change from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s dividend payout ratio (DPR) is presently 22.17%.
Unum Group declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 25th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other Unum Group news, EVP Breege A. Farrell sold 15,000 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $45.47, for a total value of $682,050.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gloria C. Larson sold 2,460 shares of the firm’s stock in a transaction on 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. Insiders sold a total of 19,960 shares of company stock worth $932,391 in the last 90 days. 0.53% of the stock is currently owned by insiders.
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UNM has been the topic of several analyst reports. BidaskClub raised shares of Unum Group from a “sell” rating to a “hold” rating in a report on Wednesday, June 14th. Zacks Investment Research raised shares of Unum Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Wednesday, June 28th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Unum Group in a report on Wednesday, July 12th. Wells Fargo & Company reaffirmed a “hold” rating on shares of Unum Group in a report on Sunday, July 30th. Finally, Barclays PLC lifted their price target on shares of Unum Group from $56.00 to $57.00 and gave the company an “overweight” rating in a report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $46.44.
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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