Unum Group (NYSE: UNM- Get a rating) announced a quarterly dividend on Friday, October 14, RTT News reports. Shareholders of record on Friday, October 28 will receive a dividend of 0.33 per share from the financial services provider on Friday, November 18. This represents a dividend of $1.32 on an annualized basis and a yield of 3.16%.
Unum Group has increased its dividend payout by an average of 6.1% per year over the past three years and has increased its dividend every year for the past 12 consecutive years. Unum Group has a payout ratio of 21.3%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect Unum Group to earn $6.19 per share next year, meaning the company should continue to be able to cover its $1.32 annual dividend with a ratio expected future payout of 21.3%.
Performance of Unum Group Shares
Shares of Unum Group traded down $0.93 during the midday session on Friday, hitting $41.77. The company had a trading volume of 1,438,780 shares, compared to an average volume of 2,134,354 shares. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt ratio of 0.35. Unum Group has a 52 week minimum of $22.25 and a 52 week maximum of $42.97. The company has a 50-day moving average of $39.24 and a 200-day moving average of $35.48. The company has a market capitalization of $8.35 billion, a price-earnings ratio of 7.73, a PEG ratio of 0.45 and a beta of 1.11.
Unum Group (NYSE: UNM – Get a rating) last released its quarterly results on Tuesday, August 2. The financial services provider reported earnings per share of $1.91 for the quarter, beating analyst consensus estimates of $1.23 by $0.68. Unum Group achieved a net margin of 9.29% and a return on equity of 9.86%. The company posted revenue of $3.05 billion in the quarter, versus a consensus estimate of $2.99 billion. On average, sell-side analysts expect Unum Group to post EPS of 6.13 for the current fiscal year.
Analysts set new price targets
The UNM has been the subject of several analyst reports. Truist Financial raised its price target on Unum Group shares from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Friday, October 7. Credit Suisse Group raised its price target on Unum Group shares from $21.00 to $37.00 and gave the stock a “neutral” rating in a Thursday, August 18 report. Barclays raised its price target on Unum Group shares from $33.00 to $36.00 and gave the stock an “underweight” rating in a Friday, August 5 report. Raymond James launched a hedge on Unum Group shares in a Wednesday, September 21 report. They set a “market performance” rating for the company. Finally, Morgan Stanley raised its price target on Unum Group shares from $37.00 to $41.00 and gave the stock an “equal weight” rating in a Wednesday, August 17 report. One financial analyst assigned the stock a sell rating, nine assigned a hold rating and two assigned the company’s stock a buy rating. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.80.
Insider buying and selling at Unum Group
In other Unum Group news, CEO Richard P. Mckenney sold 40,000 shares of the company in a trade dated Thursday, August 25. The shares were sold at an average price of $40.13, for a total value of $1,605,200.00. Following the completion of the sale, the CEO now owns 950,367 shares of the company, valued at approximately $38,138,227.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, available at this hyperlink. In a similar vein, Executive Vice President Lisa G. Iglesias sold 20,000 shares of the company in a trade that took place on Thursday, August 25. The shares were sold at an average price of $40.00, for a total transaction of $800,000.00. Following the completion of the sale, the executive vice president now directly owns 56,814 shares of the company, valued at $2,272,560. The transaction was disclosed in a legal filing with the SEC, available at this link. Also, CEO Richard P. Mckenney sold 40,000 shares of the company in a transaction that took place on Thursday, August 25. The stock was sold at an average price of $40.13, for a total transaction of $1,605,200.00. As a result of the sale, the CEO now directly owns 950,367 shares of the company, valued at $38,138,227.71. Disclosure of this sale can be found here. Company insiders hold 0.77% of the company’s shares.
Institutional investors weigh on Unum Group
A number of institutional investors and hedge funds have recently changed their holdings in the company. Horizon Investments LLC purchased a new stake in Unum Group in the first quarter worth approximately $221,000. DA Davidson & CO. bought a new stake in Unum Group in the first quarter worth approximately $227,000. Quantamental Technologies LLC acquired a new stake in Unum Group in the first quarter valued at approximately $244,000. NewEdge Advisors LLC acquired a new stake in Unum Group in the second quarter worth approximately $248,000. Finally, Edgestream Partners LP purchased a new stake in Unum Group in the first quarter valued at approximately $331,000. 80.70% of the shares are held by institutional investors.
About Unum Group
Unum Group, together with its subsidiaries, provides financial protection solutions primarily in the United States, United Kingdom and Poland. It operates through the Unum US, Unum International, Colonial Life and Closed Block segments. The company offers group products for short and long term disability, group life insurance and accidental death and dismemberment; complementary and voluntary products, such as individual disability benefits, voluntary benefits and dental and vision products; and accident, sickness, disability, life insurance, cancer and critical illness products.
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