Toronto Dominion Bank Buys 1,400 Shares of Unum Group (NYSE:UNM)

Toronto Dominion Bank increased its stake in shares of Unum Group (NYSE:UNM) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,600 shares of the financial services provider’s stock after purchasing an additional 1,400 shares during the quarter. Toronto Dominion Bank’s holdings in Unum Group were worth $1,717,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Unum Group by 5.9% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 36,427 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 2,023 shares during the period. Hsbc Holdings PLC lifted its holdings in Unum Group by 337.0% in the fourth quarter. Hsbc Holdings PLC now owns 189,308 shares of the financial services provider’s stock valued at $8,570,000 after buying an additional 145,993 shares during the period. Treasurer of the State of North Carolina lifted its holdings in Unum Group by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 89,955 shares of the financial services provider’s stock valued at $4,068,000 after buying an additional 865 shares during the period. Bank of Nova Scotia lifted its holdings in Unum Group by 2.8% in the fourth quarter. Bank of Nova Scotia now owns 9,193 shares of the financial services provider’s stock valued at $416,000 after buying an additional 249 shares during the period. Finally, KBC Group NV lifted its holdings in Unum Group by 362.3% in the fourth quarter. KBC Group NV now owns 8,803 shares of the financial services provider’s stock valued at $398,000 after buying an additional 6,899 shares during the period. 86.57% of the stock is owned by institutional investors.

Insider Activity at Unum Group

In related news, CEO Richard P. Mckenney sold 67,795 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at $58,601,422.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now directly owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. The disclosure for this sale can be found here. 0.93% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

UNM has been the topic of several analyst reports. Wells Fargo & Company increased their price objective on shares of Unum Group from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Barclays assumed coverage on shares of Unum Group in a report on Wednesday, September 4th. They issued an “overweight” rating and a $73.00 target price on the stock. Truist Financial increased their target price on shares of Unum Group from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $66.00 target price (up from $64.00) on shares of Unum Group in a report on Friday. Finally, Citigroup increased their target price on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.80.

Unum Group Stock Up 0.9 %

Shares of UNM stock opened at $58.65 on Monday. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 0.85 and a beta of 0.77. Unum Group has a 12-month low of $41.75 and a 12-month high of $59.01. The firm has a fifty day moving average of $54.90 and a 200-day moving average of $52.93. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.33.

Unum Group (NYSE:UNM) last released its earnings results on Tuesday, July 30th. The financial services provider reported $2.16 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.14. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 earnings per share. As a group, equities research analysts predict that Unum Group will post 8.48 earnings per share for the current fiscal year.

Unum Group declared that its Board of Directors has approved a share repurchase plan on Tuesday, July 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 10% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, July 26th were given a $0.42 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.68 dividend on an annualized basis and a yield of 2.86%. This is an increase from Unum Group’s previous quarterly dividend of $0.37. Unum Group’s dividend payout ratio (DPR) is 24.96%.

Unum Group 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.