Unum Group (NYSE:UNM) Director Timothy F. Keaney has sold a total of 8,000 shares of company stock, according to a recent SEC filing. The transaction, which took place on May 7, 2024, amounted to $420,880, with the shares being sold at a price of $52.61 each.
The sale has adjusted Keaney's direct holdings in the company to a total of 37,505 shares, which includes a mix of deferred share rights (DSRs), restricted stock units (RSUs), and common stock. Specifically, Keaney's ownership following the transaction comprises 1,056 DSRs, 3,839 RSUs, and 32,610 shares of common stock. It is noted that all DSRs and RSUs can be converted into common stock on a one-to-one basis.
The details of the transaction come from a Form 4 document filed with the Securities and Exchange Commission, which requires company insiders to report their trading activities. This sale by Keaney provides investors with updated information on the executive's stake in Unum Group.
Investors and market watchers often monitor insider transactions as they can provide insights into an executive's view of the company's stock and its future prospects. However, it is essential to consider that insider transactions can occur for various reasons and may not necessarily be indicative of the company's operational performance or future outlook.
Unum Group, with its headquarters in Chattanooga, Tennessee, operates within the accident and health insurance industry and is known for providing a range of insurance products and services. The company has a history that includes several name changes, with its current name, Unum Group, having been established after the name change from UnumProvident Corp in 1999.
Investors interested in Unum Group can continue to follow the company's filings and public disclosures for further updates on insider transactions and other significant developments.
InvestingPro Insights
In light of the recent insider transaction at Unum Group (NYSE:UNM), it's worth noting that the company's financial health and stock performance offer additional context. According to InvestingPro data, Unum Group currently holds a market capitalization of approximately $9.97 billion. The company's price-to-earnings (P/E) ratio stands at 7.79, which is adjusted to 7.54 when looking at the last twelve months as of Q1 2024. This suggests that the stock is potentially undervalued when compared to industry peers. Additionally, the company's revenue has shown growth, with a 4.24% increase in the last twelve months as of Q1 2024, indicating a steady financial performance.
From the perspective of InvestingPro Tips, it's noteworthy that Unum Group has demonstrated a commitment to shareholder returns, having raised its dividend for 15 consecutive years and maintained those payments for 38 consecutive years. This could be a signal of the company's stability and a reassuring factor for investors looking for consistent income. Moreover, the company's liquid assets exceed its short-term obligations, which suggests a strong liquidity position that could support ongoing operations and dividend payments.
For investors seeking more comprehensive analysis and additional insights, InvestingPro offers a variety of tips on Unum Group, including analysts' profitability predictions and the company's trading proximity to its 52-week high. To access these insights and more, consider using coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. There are currently 7 additional InvestingPro Tips available, which can provide further guidance on whether Unum Group aligns with your investment strategy.
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