Public Employees Retirement Association of Colorado Sells 366 Shares of Unum Group (UNM)
Public Employees Retirement Association of Colorado decreased its position in Unum Group (NYSE:UNM) by 0.8% during the second quarter, Holdings Channel reports. The institutional investor owned 47,677 shares of the financial services provider’s stock after selling 366 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Unum Group were worth $2,223,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Unum Group by 3.1% in the first quarter. Vanguard Group Inc. now owns 24,069,527 shares of the financial services provider’s stock worth $1,128,621,000 after buying an additional 732,083 shares in the last quarter. BlackRock Inc. boosted its position in shares of Unum Group by 2,690.7% in the first quarter. BlackRock Inc. now owns 16,788,648 shares of the financial services provider’s stock worth $787,221,000 after buying an additional 16,187,062 shares in the last quarter. State Street Corp boosted its position in shares of Unum Group by 5.0% in the first quarter. State Street Corp now owns 12,119,332 shares of the financial services provider’s stock worth $568,278,000 after buying an additional 573,818 shares in the last quarter. Boston Partners boosted its position in shares of Unum Group by 16.6% in the first quarter. Boston Partners now owns 9,564,880 shares of the financial services provider’s stock worth $448,498,000 after buying an additional 1,358,289 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Unum Group by 32.4% in the first quarter. AQR Capital Management LLC now owns 5,699,745 shares of the financial services provider’s stock worth $267,262,000 after buying an additional 1,395,330 shares in the last quarter. Institutional investors own 93.89% of the company’s stock.
Unum Group (NYSE UNM) opened at 50.76 on Thursday. The firm has a market cap of $11.46 billion, a PE ratio of 12.23 and a beta of 1.56. Unum Group has a 1-year low of $33.25 and a 1-year high of $51.43. The company has a 50 day moving average price of $48.02 and a 200 day moving average price of $47.02.
Unum Group (NYSE:UNM) last released its earnings results on Thursday, July 27th. The financial services provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Unum Group had a net margin of 8.57% and a return on equity of 10.23%. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the company earned $1.00 earnings per share. On average, equities research analysts forecast that Unum Group will post $4.17 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, July 31st will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Thursday, July 27th. This is a boost from Unum Group’s previous quarterly dividend of $0.20. Unum Group’s dividend payout ratio (DPR) is presently 22.17%.
Unum Group declared that its Board of Directors has approved a share repurchase program on Thursday, May 25th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the financial services provider to buy up to 7.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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UNM has been the topic of several recent analyst reports. Zacks Investment Research upgraded Unum Group from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, June 28th. BidaskClub cut Unum Group from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Wells Fargo & Company reiterated a “hold” rating on shares of Unum Group in a research note on Sunday, July 30th. Royal Bank Of Canada reiterated a “hold” rating and issued a $50.00 price target on shares of Unum Group in a research note on Friday, April 28th. Finally, Deutsche Bank AG boosted their price target on Unum Group from $46.00 to $48.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Unum Group has an average rating of “Hold” and a consensus price target of $46.67.
In related news, Director Pamela H. Godwin sold 2,500 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $50.71, for a total value of $126,775.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gloria C. Larson sold 2,460 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $50.23, for a total transaction of $123,565.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,960 shares of company stock valued at $932,391. 0.53% of the stock is owned by corporate insiders.
About Unum Group
Unum Group is a provider of financial protection benefits in the United States and the United Kingdom. The Company’s products include disability, life, accident, critical illness, dental and vision, and other related services. Its segments include Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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