25,272 Unum Group $UNM Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in shares of Unum Group (NYSE:UNM) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 313,734 shares of the financial services provider’s stock after selling 25,272 shares during the period. ProShare Advisors LLC owned 0.20% of Unum Group worth $27,524,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Laurel Wealth Advisors LLC purchased a new position in Unum Group during the 3rd quarter worth $29,000. CX Institutional raised its holdings in shares of Unum Group by 57.8% in the third quarter. CX Institutional now owns 352 shares of the financial services provider’s stock valued at $31,000 after buying an additional 129 shares during the last quarter. City State Bank purchased a new stake in shares of Unum Group in the third quarter valued at about $32,000. Ancora Advisors LLC acquired a new stake in shares of Unum Group during the second quarter worth about $39,000. Finally, Trust Co. of Vermont acquired a new stake in shares of Unum Group during the second quarter worth about $47,000. 86.57% of the stock is owned by institutional investors and hedge funds.

Unum Group Trading Up 0.1%

Shares of UNM opened at $91.21 on Monday. Unum Group has a twelve month low of $69.02 and a twelve month high of $96.77. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $14.44 billion, a P/E ratio of 21.26, a PEG ratio of 0.88 and a beta of 0.25. The firm’s 50-day moving average is $92.20 and its two-hundred day moving average is $83.95.

Unum Group declared that its Board of Directors has authorized a share buyback program on Wednesday, August 26th that allows the company to repurchase $1 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Share buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, October 30th will be given a $0.5050 dividend. The ex-dividend date is Friday, October 30th. This represents a $2.02 annualized dividend and a dividend yield of 2.2%. Unum Group’s payout ratio is currently 47.09%.

Insider Activity at Unum Group

In other Unum Group news, EVP Lisa G. Iglesias sold 4,000 shares of Unum Group stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total transaction of $377,760.00. Following the completion of the transaction, the executive vice president owned 25,453 shares in the company, valued at approximately $2,403,781.32. The trade was a 13.58% 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, Director Timothy Keaney sold 4,300 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $94.02, for a total transaction of $404,286.00. Following the completion of the sale, the director directly owned 36,502 shares in the company, valued at $3,431,918.04. This trade represents a 10.54% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 10,488 shares of company stock valued at $988,396. Insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on UNM. Weiss Ratings reiterated a “buy (b)” rating on shares of Unum Group in a research note on Monday, October 26th. Keefe, Bruyette & Woods decreased their price target on Unum Group from $110.00 to $108.00 and set an “outperform” rating for the company in a report on Thursday, July 30th. Wells Fargo & Company lifted their price objective on shares of Unum Group from $100.00 to $102.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Morgan Stanley boosted their price objective on shares of Unum Group from $87.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, August 24th. Finally, Evercore reaffirmed an “outperform” rating and issued a $106.00 target price on shares of Unum Group in a report on Tuesday, July 7th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $99.42.

Unum Group Company Profile

Unum Group is an insurance company that provides employee benefits and related protection products through employers, as well as selected individual policies. Its offerings are designed to help people manage the financial impact of illness, injury, death and other unexpected events.

The company’s products include short-term and long-term disability insurance, group and individual life insurance, accidental death and dismemberment coverage, and supplemental health benefits such as accident, critical illness and hospital indemnity insurance.