Unum Group (NYSE:UNM) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. trimmed its position in shares of Unum Group (NYSE:UNM) by 31.3% in the fourth quarter, HoldingsChannel reports. The firm owned 29,286 shares of the financial services provider’s stock after selling 13,315 shares during the period. Waterfront Wealth Inc.’s holdings in Unum Group were worth $2,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barrett & Company Inc. boosted its stake in Unum Group by 300.0% during the 4th quarter. Barrett & Company Inc. now owns 396 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 297 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Unum Group during the 4th quarter worth about $38,000. Capital Performance Advisors LLP bought a new stake in shares of Unum Group during the 3rd quarter worth about $31,000. Versant Capital Management Inc raised its position in shares of Unum Group by 26.4% during the 4th quarter. Versant Capital Management Inc now owns 766 shares of the financial services provider’s stock worth $56,000 after buying an additional 160 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Unum Group by 28.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 800 shares of the financial services provider’s stock worth $58,000 after buying an additional 179 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $76.92, for a total value of $769,200.00. Following the completion of the sale, the executive vice president now directly owns 54,827 shares in the company, valued at $4,217,292.84. This represents a 15.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UNM shares. Piper Sandler boosted their price target on shares of Unum Group from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $79.00 target price (up from $74.00) on shares of Unum Group in a report on Tuesday, January 7th. Wells Fargo & Company boosted their price target on shares of Unum Group from $81.00 to $91.00 and gave the company an “overweight” rating in a report on Wednesday. Truist Financial boosted their price target on shares of Unum Group from $70.00 to $75.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Morgan Stanley boosted their price target on shares of Unum Group from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.17.

Unum Group Stock Performance

NYSE:UNM opened at $74.75 on Friday. The company has a current ratio of 0.29, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. Unum Group has a 1 year low of $48.38 and a 1 year high of $79.43. The firm’s fifty day simple moving average is $74.28 and its 200 day simple moving average is $66.61. The firm has a market capitalization of $13.65 billion, a PE ratio of 7.89, a PEG ratio of 1.14 and a beta of 0.80.

Unum Group (NYSE:UNM) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.14 by ($0.11). Unum Group had a net margin of 13.81% and a return on equity of 14.91%. On average, sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its Board of Directors has initiated a stock repurchase program on Tuesday, February 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 7.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Unum Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Friday, January 24th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date was Friday, January 24th. Unum Group’s dividend payout ratio (DPR) is presently 17.74%.

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.