Bay Colony Advisory Group Inc d b a Bay Colony Advisors Has $387,000 Stock Holdings in Unum Group (NYSE:UNM)

by · The Markets Daily

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its stake in Unum Group (NYSE:UNM – Free Report) by 10.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,510 shares of the financial services provider’s stock after acquiring an additional 611 shares during the quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Unum Group were worth $387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. State of Alaska Department of Revenue increased its stake in shares of Unum Group by 2.6% in the third quarter. State of Alaska Department of Revenue now owns 19,857 shares of the financial services provider’s stock worth $1,180,000 after acquiring an additional 500 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Unum Group by 21.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 34,967 shares of the financial services provider’s stock worth $2,078,000 after acquiring an additional 6,202 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Unum Group by 8.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 112,273 shares of the financial services provider’s stock worth $6,585,000 after buying an additional 8,439 shares during the last quarter. Ballentine Partners LLC increased its position in Unum Group by 7.1% during the third quarter. Ballentine Partners LLC now owns 6,806 shares of the financial services provider’s stock worth $405,000 after buying an additional 452 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Unum Group by 24.5% during the third quarter. Assenagon Asset Management S.A. now owns 325,796 shares of the financial services provider’s stock worth $19,365,000 after buying an additional 64,062 shares during the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Stock Up 0.3 %

NYSE UNM opened at $61.86 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a 50-day simple moving average of $58.10 and a 200 day simple moving average of $54.21. Unum Group has a twelve month low of $41.75 and a twelve month high of $64.52. The stock has a market cap of $11.72 billion, a PE ratio of 9.19, a PEG ratio of 0.91 and a beta of 0.77.

Unum Group (NYSE:UNM – Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.14. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.23 billion. Unum Group had a net margin of 10.40% and a return on equity of 15.55%. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 earnings per share. On average, research analysts forecast that Unum Group will post 8.49 EPS for the current year.

Unum Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, October 25th. Unum Group’s dividend payout ratio is 24.96%.

Unum Group announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 30th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 10% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms have commented on UNM. Piper Sandler reissued an “overweight” rating and set a $66.00 target price (up from $64.00) on shares of Unum Group in a research report on Friday, September 27th. JPMorgan Chase & Co. lowered their target price on shares of Unum Group from $65.00 to $63.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Barclays lowered their target price on shares of Unum Group from $73.00 to $72.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company increased their target price on shares of Unum Group from $69.00 to $71.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Citigroup upped their price target on shares of Unum Group from $62.00 to $69.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Unum Group currently has an average rating of “Moderate Buy” and a consensus target price of $63.64.

View Our Latest Stock Analysis on UNM

Insiders Place Their Bets

In other Unum Group news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $54.11, for a total transaction of $541,100.00. Following the completion of the transaction, the executive vice president now owns 64,821 shares in the company, valued at $3,507,464.31. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Timothy Gerald Arnold sold 10,000 shares of the firm’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 transaction of $541,100.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Richard P. Mckenney sold 67,795 shares of the firm’s 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 sale, the chief executive officer now directly owns 1,065,868 shares of the company’s stock, valued at approximately $58,601,422.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.93% of the company’s stock.

About Unum Group

(Free Report)

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.

Further Reading

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