Westpac Banking Corp cut its position in Unum Group (NYSE:UNM) by 73.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,678 shares of the company’s stock after selling 152,893 shares during the period. Westpac Banking Corp’s holdings in Unum Group were worth $1,795,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of UNM. Vanguard Group Inc. raised its stake in shares of Unum Group by 4.1% in the second quarter. Vanguard Group Inc. now owns 22,424,545 shares of the company’s stock worth $712,877,000 after buying an additional 875,760 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Unum Group by 1.6% in the second quarter. JPMorgan Chase & Co. now owns 10,358,069 shares of the company’s stock worth $329,284,000 after buying an additional 162,611 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Unum Group by 1.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,394,093 shares of the company’s stock worth $197,705,000 after buying an additional 68,518 shares during the period. NWQ Investment Management Company LLC raised its stake in shares of Unum Group by 11.8% in the first quarter. NWQ Investment Management Company LLC now owns 5,754,193 shares of the company’s stock worth $177,920,000 after buying an additional 605,524 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Unum Group by 38.1% in the second quarter. American Century Companies Inc. now owns 5,279,960 shares of the company’s stock worth $167,850,000 after buying an additional 1,455,618 shares during the period. Institutional investors and hedge funds own 93.67% of the company’s stock.
Unum Group (NYSE:UNM) traded up 0.31% during midday trading on Thursday, reaching $35.33. 70,016 shares of the company traded hands. The company has a market cap of $8.29 billion, a price-to-earnings ratio of 9.74 and a beta of 1.49. Unum Group has a 12-month low of $23.99 and a 12-month high of $37.26. The company has a 50-day moving average price of $34.84 and a 200-day moving average price of $33.60.
Unum Group (NYSE:UNM) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.05. Unum Group had a return on equity of 10.37% and a net margin of 8.07%. The company earned $2.76 billion during the quarter, compared to analysts’ expectations of $2.75 billion. During the same period in the prior year, the business earned $0.90 earnings per share. Unum Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts predict that Unum Group will post $3.86 earnings per share for the current fiscal year.
A number of analysts recently issued reports on UNM shares. FBR & Co lowered shares of Unum Group from a “market perform” rating to an “underperform” rating and set a $31.00 price target for the company. in a research note on Monday, July 11th. Wells Fargo & Co. started coverage on shares of Unum Group in a research note on Thursday, September 22nd. They set a “market perform” rating for the company. Zacks Investment Research upgraded shares of Unum Group from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a research note on Tuesday. Goldman Sachs Group Inc. lowered shares of Unum Group from a “neutral” rating to a “sell” rating and lowered their target price for the company from $36.00 to $30.00 in a research note on Friday, July 15th. Finally, Morgan Stanley boosted their target price on shares of Unum Group from $35.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Unum Group currently has an average rating of “Hold” and an average target price of $36.15.
In other news, Director Thomas R. Watjen sold 40,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $33.24, for a total value of $1,329,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.62% of the stock is owned by insiders.
About Unum Group
Unum Group is a provider of disability insurance products in the United States and the United Kingdom. The Company provides a portfolio of other insurance products, including employer and employee paid group benefits, life insurance and other related services. Its segments are Unum US, Unum UK, Colonial Life, Closed Block and Corporate.
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