Unum Group (NYSE:UNM) Shares Sold by Prana Capital Management LP

Prana Capital Management LP reduced its holdings in shares of Unum Group (NYSE:UNM) by 36.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,066 shares of the financial services provider’s stock after selling 121,525 shares during the period. Prana Capital Management LP owned approximately 0.11% of Unum Group worth $12,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC lifted its position in Unum Group by 8.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock worth $44,609,000 after acquiring an additional 64,661 shares during the period. Cetera Advisors LLC acquired a new stake in shares of Unum Group during the first quarter worth about $703,000. Van ECK Associates Corp purchased a new stake in Unum Group in the second quarter valued at approximately $3,945,000. My Legacy Advisors LLC acquired a new position in Unum Group in the 2nd quarter worth approximately $473,000. Finally, CoreCap Advisors LLC purchased a new position in Unum Group during the 2nd quarter worth approximately $2,007,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Price Performance

NYSE:UNM opened at $76.04 on Wednesday. The stock has a 50 day moving average of $66.61 and a two-hundred day moving average of $57.88. Unum Group has a 12 month low of $42.09 and a 12 month high of $77.63. The firm has a market cap of $13.89 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 1.09 and a beta of 0.79. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 EPS. On average, analysts expect that Unum Group will post 8.53 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, October 25th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date of this dividend was Friday, October 25th. Unum Group’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $66.00 price objective (up previously from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Evercore ISI raised Unum Group from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $67.00 to $84.00 in a research report on Thursday, November 14th. Bank of America boosted their price objective on Unum Group from $54.00 to $63.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Truist Financial raised their target price on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays upped their price objective on Unum Group from $72.00 to $74.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Unum Group has an average rating of “Moderate Buy” and an average price target of $67.73.

Insider Buying and Selling

In other Unum Group news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $69.56, for a total transaction of $104,340.00. Following the completion of the transaction, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at $581,591.16. This trade represents a 15.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the sale, the chief executive officer now directly owns 1,065,868 shares in the company, valued at $58,601,422.64. This trade represents a 5.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 175,709 shares of company stock worth $11,726,114. Company insiders own 0.93% of the company’s stock.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. 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.