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Lisa G. Iglesias, Executive Vice President and General Counsel of Unum Group (NYSE:UNM), a $13.8 billion market cap insurance company that has delivered an impressive 68.5% return over the past year, recently executed a significant stock transaction according to a Form 4 filing with the Securities and Exchange Commission. According to InvestingPro analysis, the company currently appears fairly valued based on its Fair Value estimate. On March 3, Iglesias sold 7,000 shares of Unum Group’s common stock at an average price of $82.75 per share, amounting to a total transaction value of $579,250.
This sale follows a series of transactions on March 1, where Iglesias had shares withheld to satisfy tax obligations related to the vesting of stock-settled restricted stock units (RSUs). These transactions involved the disposal of a total of 4,255 shares at a price of $82.29 per share, resulting in a transaction value of $350,143. Additionally, Iglesias acquired 6,699 stock-settled RSUs, which are set to vest in three near-equal annual installments starting March 1, 2026.
Following these transactions, Iglesias holds 31,284 shares of Unum Group’s common stock, including 17,241 stock-settled RSUs and 6,721 stock success units.
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 anticipated $2.14. Revenue also came in below estimates at $3.24 billion, compared to the expected $3.29 billion. Despite these misses, premium income increased by 3.1% year-over-year to $2.63 billion, and net investment income rose by 2.4% to $543.6 million. Unum Group has announced a new $1 billion stock buyback program set to begin on April 1, 2025, following the termination of its current repurchase program. Analysts at BMO Capital Markets and Keefe, Bruyette & Woods have both raised their price targets for Unum Group, to $102 and $103 respectively, citing favorable transactions and strategic capital management. Truist Securities also increased its price target to $90, maintaining a Buy rating, based on revised earnings projections and expected revenue growth. These developments reflect a mixed financial outlook for Unum Group, with strategic moves and analyst confidence balancing the recent earnings shortfall.
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