Unum Group (NYSE:UNM) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Unum Group (NYSE:UNM) by 5.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,186,262 shares of the financial services provider’s stock after purchasing an additional 66,392 shares during the quarter. Victory Capital Management Inc. owned approximately 0.65% of Unum Group worth $70,511,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. ProShare Advisors LLC raised its position in shares of Unum Group by 89.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock worth $61,728,000 after purchasing an additional 571,436 shares during the last quarter. M&G Plc purchased a new position in shares of Unum Group in the first quarter valued at approximately $8,988,000. Neo Ivy Capital Management acquired a new stake in shares of Unum Group in the second quarter worth approximately $6,640,000. Hsbc Holdings PLC increased its position in shares of Unum Group by 106.4% during the second quarter. Hsbc Holdings PLC now owns 233,881 shares of the financial services provider’s stock worth $11,915,000 after purchasing an additional 120,559 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in Unum Group by 183.5% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 170,100 shares of the financial services provider’s stock valued at $8,694,000 after purchasing an additional 110,100 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Evercore ISI raised shares of Unum Group from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $67.00 to $84.00 in a research note on Thursday. Piper Sandler reissued an “overweight” rating and issued a $66.00 target price (up from $64.00) on shares of Unum Group in a research note on Friday, September 27th. Truist Financial upped their price target on Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Citigroup lifted their price objective on Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Unum Group Stock Performance

NYSE UNM opened at $72.26 on Friday. The stock has a market cap of $13.20 billion, a PE ratio of 7.82, a P/E/G ratio of 1.05 and a beta of 0.76. Unum Group has a twelve month low of $41.86 and a twelve month high of $72.96. The stock has a fifty day simple moving average of $61.20 and a 200-day simple moving average of $55.62. 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 quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same period last year, the business earned $1.94 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts anticipate that Unum Group will post 8.52 earnings per share for the current year.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is 18.18%.

Unum Group declared that its board has approved a stock buyback program on Tuesday, July 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 10% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at Unum Group

In other news, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. This represents a 5.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction that occurred on 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 position. The disclosure for this sale can be found here. Insiders sold a total of 77,545 shares of company stock worth $4,380,074 over the last ninety days. Company insiders own 0.93% of the company’s stock.

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.