Burney Co. Sells 8,040 Shares of Unum Group $UNM

Burney Co. lessened its stake in shares of Unum Group (NYSE:UNM) by 9.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,545 shares of the financial services provider’s stock after selling 8,040 shares during the quarter. Burney Co.’s holdings in Unum Group were worth $5,798,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. bought a new stake in shares of Unum Group in the 2nd quarter valued at about $28,000. Legacy Investment Solutions LLC bought a new position in shares of Unum Group during the 2nd quarter worth approximately $30,000. Atwood & Palmer Inc. lifted its position in Unum Group by 100.0% during the second quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 200 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in Unum Group by 44.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 537 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 164 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its holdings in Unum Group by 1,123.4% in the second quarter. Hantz Financial Services Inc. now owns 575 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 528 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

Unum Group Price Performance

Shares of NYSE UNM opened at $78.84 on Friday. Unum Group has a 52 week low of $66.81 and a 52 week high of $84.48. The business’s 50 day moving average price is $76.27 and its 200 day moving average price is $76.00. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32. The firm has a market cap of $13.19 billion, a P/E ratio of 15.37, a P/E/G ratio of 1.55 and a beta of 0.20.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Monday, November 3rd. The financial services provider reported $2.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.15 by ($0.06). The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.13 earnings per share. On average, sell-side analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group declared that its board has initiated a stock repurchase 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 repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Unum Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were given a dividend of $0.46 per share. The ex-dividend date was Friday, October 24th. This represents a $1.84 dividend on an annualized basis and a yield of 2.3%. Unum Group’s payout ratio is currently 35.87%.

Insider Buying and Selling at Unum Group

In other news, EVP Steven Andrew Zabel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $76.38, for a total value of $572,850.00. Following the sale, the executive vice president owned 113,807 shares in the company, valued at $8,692,578.66. This represents a 6.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 900 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $73.50, for a total value of $66,150.00. Following the sale, the chief accounting officer directly owned 8,940 shares in the company, valued at approximately $657,090. This trade represents a 9.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 12,400 shares of company stock valued at $951,160. 0.92% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on UNM. JPMorgan Chase & Co. decreased their price objective on Unum Group from $94.00 to $92.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Unum Group in a research report on Monday, December 22nd. Barclays raised their price target on Unum Group from $92.00 to $95.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Morgan Stanley set a $85.00 price target on Unum Group in a research note on Monday, December 15th. Finally, Citigroup restated a “market perform” rating on shares of Unum Group in a report on Thursday, December 18th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.91.

About Unum Group

Unum Group (NYSE: UNM) is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.