Amalgamated Bank Decreases Position in Unum Group (NYSE:UNM)

by · The Markets Daily

Amalgamated Bank lessened its holdings in Unum Group (NYSE:UNM – Free Report) by 5.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 76,281 shares of the financial services provider’s stock after selling 4,066 shares during the period. Amalgamated Bank’s holdings in Unum Group were worth $6,214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UNM. Brighton Jones LLC purchased a new position in Unum Group in the 4th quarter valued at approximately $247,000. Oppenheimer & Co. Inc. lifted its position in shares of Unum Group by 37.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 20,711 shares of the financial services provider’s stock worth $1,513,000 after purchasing an additional 5,623 shares during the last quarter. QRG Capital Management Inc. lifted its position in shares of Unum Group by 1.4% during the 4th quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider’s stock worth $974,000 after purchasing an additional 189 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Unum Group during the 4th quarter worth $204,000. Finally, US Bancorp DE lifted its position in shares of Unum Group by 2.1% during the 4th quarter. US Bancorp DE now owns 95,156 shares of the financial services provider’s stock worth $6,949,000 after purchasing an additional 1,936 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Unum Group Price Performance

Shares of NYSE:UNM opened at $81.98 on Wednesday. The company’s fifty day moving average price is $79.93 and its 200 day moving average price is $77.45. Unum Group has a 12 month low of $49.63 and a 12 month high of $84.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $14.29 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.27 and a beta of 0.41.

Unum Group (NYSE:UNM – Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.15). The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. Unum Group had a return on equity of 14.17% and a net margin of 12.31%. Unum Group’s revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.12 earnings per share. As a group, sell-side analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were paid a $0.42 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.05%. Unum Group’s dividend payout ratio is presently 19.79%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on UNM. Wells Fargo & Company lifted their price objective on shares of Unum Group from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wall Street Zen cut shares of Unum Group from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Morgan Stanley lifted their price objective on shares of Unum Group from $76.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Monday, May 19th. UBS Group set a $89.00 price objective on shares of Unum Group and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Unum Group from $81.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 2nd. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.86.

View Our Latest Research Report on Unum Group

Insider Buying and Selling

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 10,000 shares of Unum Group stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the transaction, the executive vice president directly owned 51,170 shares in the company, valued at approximately $4,093,600. The trade was a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Unum Group Profile

(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.

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