618,267 Shares in Unum Group $UNM Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 618,267 Unum Group shares worth approximately $55.3 million in the second quarter, joining other major institutional investors. Institutions collectively own 86.57% of UNM.
• Unum reported quarterly earnings of $2.16 per share, matching estimates, while revenue reached $3.39 billion. The company authorized a $1 billion share-repurchase program and increased its quarterly dividend to $0.505 per share.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $99.42. UNM recently traded at $95.11, near its 52-week high of $96.77, although company insiders have sold shares in recent months.

Bank of America Corp DE purchased a new stake in Unum Group (NYSE:UNM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 618,267 shares of the financial services provider's stock, valued at approximately $55,273,000. Bank of America Corp DE owned about 0.39% of Unum Group at the end of the most recent quarter.

Several other large investors have also bought and sold shares of UNM. Norges Bank purchased a new position in Unum Group during the fourth quarter worth about $1,108,919,000. Dimensional Fund Advisors LP lifted its position in shares of Unum Group by 7.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,084,382 shares of the financial services provider's stock worth $298,287,000 after buying an additional 292,670 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Unum Group in the 2nd quarter worth approximately $84,097,000. Donald Smith & CO. Inc. purchased a new position in shares of Unum Group in the 2nd quarter worth approximately $58,064,000. Finally, Quantinno Capital Management LP grew its holdings in shares of Unum Group by 14.6% in the first quarter. Quantinno Capital Management LP now owns 754,335 shares of the financial services provider's stock valued at $55,089,000 after acquiring an additional 96,123 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Unum Group

In other Unum Group news, EVP Lisa Iglesias sold 4,000 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $94.44, for a total transaction of $377,760.00. Following the sale, the executive vice president owned 25,453 shares in the company, valued at $2,403,781.32. This represents a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lynn Jr sold 2,188 shares of Unum Group stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $94.31, for a total value of $206,350.28. Following the completion of the transaction, the chief accounting officer owned 8,154 shares of the company's stock, valued at approximately $769,003.74. This trade represents a 21.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,488 shares of company stock valued at $988,396 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

UNM has been the subject of a number of recent analyst reports. Atlantic Securities set a $88.00 target price on Unum Group in a research report on Wednesday, July 15th. Barclays increased their price target on shares of Unum Group from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Monday, July 6th. Wolfe Research decreased their price objective on shares of Unum Group from $102.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, July 6th. Weiss Ratings raised shares of Unum Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Unum Group from $101.00 to $98.00 and set a "neutral" rating on the stock in a research note on Monday, August 3rd. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Unum Group has an average rating of "Moderate Buy" and an average price target of $99.42.

Unum Group Trading Down 0.1%

Shares of Unum Group stock opened at $95.11 on Monday. The stock has a market capitalization of $15.06 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.01 and a beta of 0.27. Unum Group has a 52-week low of $69.02 and a 52-week high of $96.77. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 0.34. The stock's 50-day simple moving average is $90.81 and its 200 day simple moving average is $84.65.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, July 28th. The financial services provider reported $2.16 earnings per share for the quarter, hitting analysts' consensus estimates of $2.16. Unum Group had a net margin of 5.26% and a return on equity of 12.60%. The firm had revenue of $3.39 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the business earned $1.92 earnings per share. The company's quarterly revenue was up .3% on a year-over-year basis. Unum Group has set its FY 2026 guidance at 8.600-8.900 EPS. As a group, research analysts anticipate that Unum Group will post 8.64 EPS for the current year.

Unum Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, August 26th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Friday, July 24th. This is a positive change from Unum Group's previous quarterly dividend of $0.46. Unum Group's payout ratio is presently 47.09%.

Unum Group Company Profile

Unum Group is an insurance company that provides financial protection and employee benefits through workplace and individual products. Its offerings include disability insurance, life insurance, accident insurance, critical illness coverage, and related benefits designed to help individuals and families manage income loss and other financial risks.

The company serves employers, employees, and individual customers primarily in the United States, the United Kingdom, and Ireland. Its products are distributed through employers, insurance brokers, benefits advisers, and other intermediaries.

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