Point72 Europe London LLP Purchases New Stake in Unum Group $UNM

Key Points

• Point72 Europe London LLP acquired 49,400 shares of Unum Group valued at approximately $4,024,000, highlighting increasing institutional interest in the company.
• Unum Group reported a 4% year-over-year revenue increase in its latest quarter, although its earnings per share of $2.07 missed the consensus estimate by $0.16.
• The company announced a dividend increase to $0.46 per share, marking a boost from $0.42 and reflecting a 2.6% annualized yield.

Point72 Europe London LLP bought a new position in Unum Group (NYSE:UNM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 49,400 shares of the financial services provider's stock, valued at approximately $4,024,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Balyasny Asset Management L.P. acquired a new position in shares of Unum Group during the 4th quarter worth $113,962,000. Zurich Insurance Group Ltd FI bought a new stake in Unum Group in the 4th quarter valued at $105,199,000. Invesco Ltd. boosted its holdings in Unum Group by 155.6% in the 1st quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider's stock valued at $185,604,000 after purchasing an additional 1,387,139 shares during the period. Nuveen LLC bought a new position in shares of Unum Group during the 1st quarter worth about $93,287,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Unum Group during the 4th quarter worth about $59,561,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on UNM. Barclays set a $96.00 target price on shares of Unum Group and gave the stock an "overweight" rating in a research note on Monday, July 7th. Piper Sandler boosted their price target on shares of Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Morgan Stanley decreased their price objective on shares of Unum Group from $85.00 to $79.00 and set an "equal weight" rating for the company in a report on Monday, August 18th. Finally, Evercore ISI decreased their price objective on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.15.

Unum Group Stock Performance

Shares of UNM traded up $2.75 during trading hours on Wednesday, hitting $72.78. The company had a trading volume of 3,896,152 shares, compared to its average volume of 1,109,887. The firm has a market cap of $12.40 billion, a price-to-earnings ratio of 8.71, a PEG ratio of 1.18 and a beta of 0.38. The business has a fifty day moving average of $75.08 and a 200-day moving average of $77.54. Unum Group has a 12 month low of $52.71 and a 12 month high of $84.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.07 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). Unum Group had a return on equity of 13.44% and a net margin of 11.77%.The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business posted $2.16 earnings per share. Unum Group's revenue was up 4.0% compared to the same quarter last year. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. Equities analysts anticipate that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Friday, July 25th. This is an increase from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio is 22.01%.

Unum Group Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. 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.