Unum Group $UNM Shares Purchased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC boosted its position in Unum Group (NYSE:UNM) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 502,222 shares of the financial services provider’s stock after buying an additional 84,938 shares during the period. Wedge Capital Management L L P NC owned approximately 0.29% of Unum Group worth $39,063,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. acquired a new stake in Unum Group in the second quarter valued at about $28,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Unum Group during the 1st quarter worth approximately $30,000. Legacy Investment Solutions LLC acquired a new stake in shares of Unum Group in the 2nd quarter valued at approximately $30,000. Atwood & Palmer Inc. lifted its holdings in shares of Unum Group by 100.0% in 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 period. Finally, Hantz Financial Services Inc. boosted its stake in shares of 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 valued at $46,000 after buying an additional 528 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Unum Group

In other news, EVP Christopher W. Pyne sold 4,000 shares of Unum Group stock in a transaction 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 owned 51,372 shares of the company’s stock, valued at $4,009,070.88. The trade was a 7.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Walter Lynn Rice, Jr. sold 900 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $73.50, for a total value of $66,150.00. Following the completion of the transaction, the chief accounting officer owned 8,940 shares of the company’s stock, valued at $657,090. The trade was a 9.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,400 shares of company stock worth $951,160. Insiders own 0.92% of the company’s stock.

Unum Group Price Performance

Unum Group stock opened at $79.11 on Friday. The firm has a market capitalization of $13.24 billion, a PE ratio of 15.42, a P/E/G ratio of 1.55 and a beta of 0.20. Unum Group has a 52 week low of $66.81 and a 52 week high of $84.48. The firm’s 50-day simple moving average is $75.90 and its 200 day simple moving average is $76.05. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.32.

Unum Group (NYSE:UNM) last announced its 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). Unum Group had a return on equity of 13.09% and a net margin of 6.99%.The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the previous year, the firm posted $2.13 EPS. The business’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group declared that its Board of Directors has approved a stock repurchase program on Thursday, December 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Friday, October 24th. Unum Group’s payout ratio is presently 35.87%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their target price on Unum Group from $100.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, October 8th. Morgan Stanley set a $85.00 price objective on shares of Unum Group in a research note on Monday, December 15th. Wolfe Research raised shares of Unum Group to a “strong-buy” rating in a report on Tuesday, September 16th. JPMorgan Chase & Co. lowered their target price on shares of Unum Group from $94.00 to $92.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Finally, Barclays lifted their price target on shares of Unum Group from $92.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Two investment 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $94.91.

Unum Group Profile

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.