Unum Group (NYSE:UNM) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 5,757,500 shares, a decline of 8.5% from the June 30th total of 6,294,200 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,890,000 shares, the short-interest ratio is presently 3.0 days.
Several equities research analysts recently commented on UNM shares. Barclays set a $36.00 price objective on shares of Unum Group and gave the stock a “buy” rating in a research report on Monday. Morgan Stanley decreased their price objective on shares of Unum Group from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TheStreet lowered shares of Unum Group from a “b-” rating to a “c+” rating in a research report on Thursday, June 6th. Credit Suisse Group started coverage on shares of Unum Group in a research report on Wednesday, July 10th. They issued an “underperform” rating on the stock. Finally, Zacks Investment Research upgraded shares of Unum Group from a “sell” rating to a “hold” rating and set a $35.00 price objective on the stock in a research report on Thursday, May 30th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $39.00.
UNM stock traded down $0.75 during trading on Thursday, hitting $25.71. The stock had a trading volume of 99,430 shares, compared to its average volume of 2,092,210. The company has a 50 day moving average price of $31.98. Unum Group has a 1-year low of $26.40 and a 1-year high of $40.76. The company has a market capitalization of $5.72 billion, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.17 and a current ratio of 0.17.
Unum Group (NYSE:UNM) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.02. Unum Group had a net margin of 4.46% and a return on equity of 12.90%. The firm had revenue of $3.02 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter in the previous year, the company posted $1.30 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, analysts predict that Unum Group will post 5.45 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Monday, July 29th will be paid a $0.285 dividend. This is an increase from Unum Group’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.14 annualized dividend and a yield of 4.43%. Unum Group’s payout ratio is presently 21.92%.
In related news, Director Gloria C. Larson sold 1,602 shares of the business’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $33.55, for a total value of $53,747.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.49% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in UNM. Vanguard Group Inc. increased its stake in shares of Unum Group by 5.4% during the 2nd quarter. Vanguard Group Inc. now owns 23,945,430 shares of the financial services provider’s stock valued at $803,370,000 after acquiring an additional 1,218,617 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Unum Group by 8.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,875,403 shares of the financial services provider’s stock valued at $143,237,000 after acquiring an additional 396,764 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Unum Group by 376.8% during the 2nd quarter. Bank of Nova Scotia now owns 3,369,146 shares of the financial services provider’s stock valued at $10,733,000 after acquiring an additional 2,662,577 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Unum Group by 15.1% during the 4th quarter. Geode Capital Management LLC now owns 3,344,324 shares of the financial services provider’s stock valued at $98,111,000 after acquiring an additional 438,390 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Unum Group by 0.7% during the 1st quarter. Northern Trust Corp now owns 2,635,821 shares of the financial services provider’s stock valued at $89,169,000 after acquiring an additional 19,621 shares during the last quarter. 92.88% of the stock is owned by hedge funds and other institutional investors.
Unum Group Company Profile
Unum Group, together with its subsidiaries, provides financial protection benefit solutions in the United States, the United Kingdom, and internationally. It operates through Unum US, Unum UK, Colonial Life, and Closed Block segments. 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.
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