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Susan DeVore, a director at Unum Group (NYSE:UNM), a $14.39 billion insurance company that has delivered an impressive 61.31% return over the past year, recently sold a substantial portion of her holdings in the company. According to a filing with the Securities and Exchange Commission, DeVore sold a total of 10,000 shares of common stock on March 3, 2025. The sales were executed at prices ranging from $80.34 to $81.35 per share, resulting in a total transaction value of approximately $808,787.
Following these transactions, DeVore’s direct ownership in Unum Group now stands at 27,396 shares. This figure includes 3,342 restricted stock units, which may be settled on a one-for-one basis in shares of common stock.
In other recent news, Unum Group reported fourth-quarter earnings that did not meet analyst expectations, with adjusted earnings per share of $2.03 falling short of the projected $2.14. Revenue for the quarter was $3.24 billion, missing the expected $3.29 billion. Despite this, premium income saw a year-over-year increase of 3.1% to $2.63 billion, and net investment income rose by 2.4% to $543.6 million.
Keefe, Bruyette & Woods raised their price target for Unum Group to $103, attributing the increase to a favorable long-term care risk transfer deal and the release of $0.6 billion from New York LTC reserves. BMO Capital Markets also increased their price target to $102, highlighting Unum Group’s excess capital position, now estimated to exceed $4 billion, and the company’s strategic financial adjustments.
Additionally, Truist Securities raised their price target to $90, maintaining a Buy rating based on revised earnings per share projections and the company’s revenue growth potential. Unum Group announced a new $1 billion stock buyback program set to begin in April 2025, following the termination of the current program. These recent developments underscore the company’s ongoing strategic efforts to enhance shareholder value and manage its financial resources effectively.
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