Spinnaker Trust Invests $212,000 in Unum Group (NYSE:UNM)

Spinnaker Trust acquired a new stake in Unum Group (NYSE:UNM) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 3,559 shares of the financial services provider’s stock, valued at approximately $212,000.

A number of other institutional investors have also recently added to or reduced their stakes in UNM. V Square Quantitative Management LLC boosted its position in shares of Unum Group by 38.2% in the 3rd quarter. V Square Quantitative Management LLC now owns 702 shares of the financial services provider’s stock worth $42,000 after buying an additional 194 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Unum Group by 2.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 10,126 shares of the financial services provider’s stock worth $518,000 after acquiring an additional 217 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Unum Group by 2.8% in the third quarter. Global Retirement Partners LLC now owns 8,292 shares of the financial services provider’s stock valued at $493,000 after purchasing an additional 224 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of Unum Group by 1.8% in the second quarter. QRG Capital Management Inc. now owns 12,786 shares of the financial services provider’s stock valued at $654,000 after purchasing an additional 226 shares during the last quarter. Finally, XML Financial LLC grew its position in shares of Unum Group by 1.3% in the first quarter. XML Financial LLC now owns 19,630 shares of the financial services provider’s stock valued at $1,053,000 after purchasing an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UNM. JPMorgan Chase & Co. reduced their price objective on Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Citigroup raised their price target on shares of Unum Group from $62.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company lifted their price target on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Barclays upped their price objective on shares of Unum Group from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group lifted their target price on shares of Unum Group from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.09.

Insider Activity

In related news, EVP Timothy Gerald Arnold sold 10,000 shares of Unum Group stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $54.11, for a total value of $541,100.00. Following the transaction, the executive vice president now owns 64,821 shares of the company’s stock, valued at approximately $3,507,464.31. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Timothy Gerald Arnold sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total value of $541,100.00. Following the completion of the sale, the executive vice president now owns 64,821 shares in the company, valued at approximately $3,507,464.31. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard P. Mckenney sold 67,795 shares of Unum Group 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 transaction, the chief executive officer now owns 1,065,868 shares in the company, valued at approximately $58,601,422.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,795 shares of company stock valued at $4,589,269 over the last three months. Insiders own 0.93% of the company’s stock.

Unum Group Stock Up 8.2 %

UNM opened at $70.20 on Thursday. 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 company has a market capitalization of $12.82 billion, a PE ratio of 7.60, a P/E/G ratio of 0.94 and a beta of 0.76. The stock’s fifty day moving average is $59.70 and its 200-day moving average is $54.96. Unum Group has a one year low of $41.86 and a one year high of $70.40.

Unum Group (NYSE:UNM) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $3.22 billion for 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%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. On average, equities analysts predict that Unum Group will post 8.52 EPS for the current fiscal year.

Unum Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio (DPR) is presently 18.18%.

Unum Group declared that its board has authorized a stock buyback plan on Tuesday, July 30th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 10% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.