Unum Group $UNM Stock Position Reduced by Brant Point Investment Management LLC

Brant Point Investment Management LLC decreased its position in Unum Group (NYSE:UNM) by 17.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,453 shares of the financial services provider’s stock after selling 19,198 shares during the quarter. Unum Group accounts for approximately 0.8% of Brant Point Investment Management LLC’s holdings, making the stock its 14th largest position. Brant Point Investment Management LLC owned 0.05% of Unum Group worth $7,224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Quintet Private Bank Europe S.A. acquired a new position in Unum Group in the second quarter worth $28,000. Legacy Investment Solutions LLC bought a new position in shares of Unum Group in the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Unum Group in the 1st quarter valued at about $30,000. Atwood & Palmer Inc. grew its position in shares of Unum Group by 100.0% during the 2nd quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Unum Group by 196.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 317 shares during the period. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Trading Up 1.3%

NYSE:UNM opened at $74.32 on Monday. Unum Group has a 1 year low of $66.81 and a 1 year high of $84.48. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.45 and a beta of 0.20. The business has a fifty day moving average of $76.19 and a 200-day moving average of $76.33. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.36 and a current ratio of 0.36.

Unum Group (NYSE:UNM) last issued its quarterly earnings data on Monday, November 3rd. The financial services provider reported $2.09 earnings per share for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.31 billion. Unum Group had a net margin of 6.99% and a return on equity of 13.09%. Unum Group’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Equities analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, October 24th. Unum Group’s dividend payout ratio is currently 35.87%.

Unum Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, December 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have commented on UNM shares. Barclays lifted their target price on Unum Group from $92.00 to $95.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Evercore ISI upped their price objective on Unum Group from $96.00 to $99.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 5th. Wells Fargo & Company cut their target price on Unum Group from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 8th. Wolfe Research raised shares of Unum Group to a “strong-buy” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Unum Group in a report on Monday, December 1st. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $94.67.

Insider Buying and Selling

In other Unum Group news, EVP Christopher W. Pyne sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $78.04, for a total value of $312,160.00. Following the completion of the sale, the executive vice president directly owned 51,372 shares in the company, valued at $4,009,070.88. This represents a 7.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Steven Andrew Zabel sold 7,500 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $76.38, for a total value of $572,850.00. Following the transaction, the executive vice president directly owned 113,807 shares of the company’s stock, valued at approximately $8,692,578.66. The trade was a 6.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.93% of the stock is owned by company insiders.

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.