Unum Group (NYSE:UNM) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in shares of Unum Group (NYSE:UNM) by 1.0% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 5,500,508 shares of the financial services provider’s stock after buying an additional 55,014 shares during the period. Charles Schwab Investment Management Inc. owned about 3.01% of Unum Group worth $326,950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC raised its position in Unum Group by 89.8% during the second quarter. ProShare Advisors LLC now owns 1,207,756 shares of the financial services provider’s stock valued at $61,728,000 after acquiring an additional 571,436 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Unum Group by 5.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,186,262 shares of the financial services provider’s stock worth $70,511,000 after purchasing an additional 66,392 shares during the period. Wedge Capital Management L L P NC increased its holdings in shares of Unum Group by 8.0% during the 2nd 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 purchasing an additional 64,661 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Unum Group by 9.5% in the 2nd quarter. Sei Investments Co. now owns 413,350 shares of the financial services provider’s stock valued at $21,127,000 after purchasing an additional 35,723 shares during the period. Finally, Lazard Asset Management LLC boosted its holdings in Unum Group by 20.5% during the first quarter. Lazard Asset Management LLC now owns 411,467 shares of the financial services provider’s stock worth $22,078,000 after buying an additional 69,928 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

Unum Group Stock Performance

UNM opened at $75.83 on Friday. The firm has a market capitalization of $13.85 billion, a PE ratio of 8.21, a PEG ratio of 1.11 and a beta of 0.76. 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 has a twelve month low of $41.97 and a twelve month high of $76.31. The firm’s 50-day moving average price is $63.45 and its 200 day moving average price is $56.49.

Unum Group (NYSE:UNM) last posted its quarterly earnings results 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 analysts’ expectations of $3.26 billion. Unum Group had a return on equity of 15.21% and a net margin of 13.76%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 earnings per share. As a group, sell-side analysts expect that Unum Group will post 8.53 EPS for the current fiscal year.

Unum Group announced that its board has initiated a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 10% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were given a dividend of $0.42 per share. The ex-dividend date was Friday, October 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.22%. Unum Group’s payout ratio is 18.18%.

Insider Activity at Unum Group

In related news, CAO Walter Lynn Rice, Jr. sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $69.56, for a total value of $104,340.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,361 shares in the company, valued at approximately $581,591.16. This represents a 15.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.98, for a total value of $3,727,369.10. Following the completion of the sale, the chief executive officer now owns 1,065,868 shares in the company, valued at $58,601,422.64. This represents a 5.98 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,709 shares of company stock valued at $10,956,914. 0.93% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on UNM shares. Wells Fargo & Company lifted their price objective on shares of Unum Group from $69.00 to $71.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Barclays lifted their price target on Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial increased their price target on Unum Group from $70.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Morgan Stanley raised their price objective on Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. reduced their target price on Unum Group from $65.00 to $63.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

About Unum Group

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.