Unum Group (NYSE:UNM) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Unum Group (NYSE:UNM - Free Report) by 0.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,873,991 shares of the financial services provider's stock after selling 17,900 shares during the period. Bank of New York Mellon Corp owned approximately 1.06% of Unum Group worth $152,655,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Rossby Financial LCC acquired a new stake in shares of Unum Group in the 1st quarter valued at $46,000. Wayfinding Financial LLC acquired a new stake in shares of Unum Group in the 1st quarter valued at $49,000. Millstone Evans Group LLC acquired a new stake in shares of Unum Group in the 4th quarter valued at $45,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Unum Group by 60.3% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,282 shares of the financial services provider's stock valued at $104,000 after purchasing an additional 482 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Unum Group in the 4th quarter valued at $102,000. Hedge funds and other institutional investors own 86.57% of the company's stock.

Insider Activity

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the sale, the executive vice president owned 51,170 shares of the company's stock, valued at $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

UNM has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research note on Tuesday. Morgan Stanley lifted their price target on shares of Unum Group from $76.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Monday, May 19th. Keefe, Bruyette & Woods cut their price target on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler lifted 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. Finally, Barclays set a $96.00 price target on shares of Unum Group and gave the stock an "overweight" rating in a research note on Monday. Five analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Unum Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.00.

Unum Group Stock Performance

Unum Group stock traded up $1.15 during midday trading on Thursday, hitting $80.42. 1,074,261 shares of the company's stock were exchanged, compared to its average volume of 1,332,438. The stock has a market cap of $14.02 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.24 and a beta of 0.41. The firm's 50 day simple moving average is $80.29 and its 200 day simple moving average is $77.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30. Unum Group has a 12-month low of $51.25 and a 12-month high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.19 by ($0.15). Unum Group had a return on equity of 14.17% and a net margin of 12.31%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.34 billion. During the same quarter in the previous year, the company posted $2.12 EPS. The company's revenue was down 3.4% compared to the same quarter last year. Equities research analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 2.29%. This is an increase from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio is 19.79%.

About Unum Group

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.