Neumann Capital Management LLC Sells 2,000 Shares of Unum Group (NYSE:UNM)

by · The Cerbat Gem

Neumann Capital Management LLC lessened its stake in shares of Unum Group (NYSE:UNM – Free Report) by 10.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,683 shares of the financial services provider’s stock after selling 2,000 shares during the period. Neumann Capital Management LLC’s holdings in Unum Group were worth $992,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in Unum Group during the 1st quarter worth $1,130,000. Tidal Investments LLC grew its position in shares of Unum Group by 80.7% during the 1st quarter. Tidal Investments LLC now owns 64,008 shares of the financial services provider’s stock worth $3,436,000 after buying an additional 28,580 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Unum Group by 8.0% during the second quarter. Wedge Capital Management L L P NC now owns 872,808 shares of the financial services provider’s stock valued at $44,609,000 after buying an additional 64,661 shares during the period. Cetera Advisors LLC bought a new stake in shares of Unum Group in the first quarter valued at about $703,000. Finally, Van ECK Associates Corp purchased a new stake in Unum Group in the second quarter worth about $3,945,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Insider Activity

In related news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of Unum Group stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $69.56, for a total transaction of $104,340.00. Following the completion of the sale, the chief accounting officer now owns 8,361 shares of the company’s stock, valued at $581,591.16. The trade was a 15.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Richard P. Mckenney sold 67,795 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.98, for a total transaction of $3,727,369.10. Following the completion of the transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. This trade represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,545 shares of company stock valued at $4,380,074 over the last ninety days. 0.93% of the stock is currently owned by insiders.

Unum Group Trading Up 1.7 %

Unum Group stock opened at $72.26 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $13.20 billion, a PE ratio of 7.82, a price-to-earnings-growth ratio of 1.04 and a beta of 0.76. The stock has a 50-day moving average of $61.20 and a two-hundred day moving average of $55.62. Unum Group has a one year low of $41.86 and a one year high of $72.96.

Unum Group (NYSE:UNM – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.26 billion. Unum Group had a net margin of 13.76% and a return on equity of 15.21%. Unum Group’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. On average, research analysts anticipate that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group declared that its board has initiated a share repurchase plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 10% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Unum Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.32%. Unum Group’s payout ratio is currently 18.18%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays raised their target price on shares of Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $66.00 price objective (up from $64.00) on shares of Unum Group in a report on Friday, September 27th. Bank of America upped their target price on Unum Group from $54.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Evercore ISI upgraded Unum Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $67.00 to $84.00 in a report on Thursday. Finally, Citigroup boosted their price target 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, Unum Group currently has an average rating of “Moderate Buy” and an average target price of $67.73.

Get Our Latest Stock Analysis on Unum Group

Unum Group Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding UNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unum Group (NYSE:UNM – Free Report).