Unum Group (NYSE:UNM)’s stock price dropped 6.4% on Thursday . The company traded as low as $29.66 and last traded at $29.91, approximately 3,420,646 shares changed hands during trading. An increase of 75% from the average daily volume of 1,953,995 shares. The stock had previously closed at $31.95.
UNM has been the subject of a number of analyst reports. Credit Suisse Group initiated coverage on shares of Unum Group in a research note on Wednesday, July 10th. They set an “underperform” rating for the company. ValuEngine lowered shares of Unum Group from a “sell” rating to a “strong sell” rating in a research note on Monday, July 29th. Zacks Investment Research upgraded shares of Unum Group from a “sell” rating to a “hold” rating and set a $35.00 price objective for the company in a research note on Thursday, May 30th. TheStreet lowered shares of Unum Group from a “b-” rating to a “c+” rating in a research note on Thursday, June 6th. Finally, Morgan Stanley reduced their price objective on shares of Unum Group from $42.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Unum Group has an average rating of “Hold” and an average target price of $40.00.
The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 5.71, a P/E/G ratio of 0.65 and a beta of 1.50. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.35. The stock’s 50 day moving average price is $33.01.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Monday, July 29th will be paid a $0.285 dividend. The ex-dividend date is Friday, July 26th. This is a positive change from Unum Group’s previous quarterly dividend of $0.26. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.84%. Unum Group’s payout ratio is currently 21.92%.
In other news, Director Gloria C. Larson sold 1,602 shares of Unum Group stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $33.55, for a total value of $53,747.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.49% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Trexquant Investment LP grew its stake in shares of Unum Group by 203.8% in the first quarter. Trexquant Investment LP now owns 86,600 shares of the financial services provider’s stock worth $2,930,000 after acquiring an additional 58,091 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Unum Group in the first quarter worth approximately $688,000. Everence Capital Management Inc. purchased a new position in shares of Unum Group in the first quarter worth approximately $472,000. Swiss National Bank boosted its holdings in shares of Unum Group by 3.4% in the first quarter. Swiss National Bank now owns 729,867 shares of the financial services provider’s stock worth $24,691,000 after buying an additional 23,800 shares during the last quarter. Finally, Twin Capital Management Inc. boosted its holdings in shares of Unum Group by 6.0% in the first quarter. Twin Capital Management Inc. now owns 30,350 shares of the financial services provider’s stock worth $1,027,000 after buying an additional 1,730 shares during the last quarter. Hedge funds and other institutional investors own 90.87% of the company’s stock.
About Unum Group (NYSE:UNM)
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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