Bank of New York Mellon Corp Trims Holdings in Unum Group $UNM

Key Points

• Bank of New York Mellon cut its Unum Group stake by 22% in the first quarter, leaving it with 1.3 million shares valued at about $95.1 million.
• Unum reported better-than-expected quarterly results, posting EPS of $2.14 versus estimates of $2.07 and revenue of $3.36 billion versus $2.91 billion expected. The company also raised its quarterly dividend to $0.505 per share.
• Wall Street remains broadly positive on UNM, with a Moderate Buy consensus and a price target of $97.25, while several analysts recently raised their targets to the $96-$110 range.

Bank of New York Mellon Corp trimmed its stake in shares of Unum Group (NYSE:UNM - Free Report) by 22.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,302,397 shares of the financial services provider's stock after selling 366,682 shares during the quarter. Bank of New York Mellon Corp owned 0.81% of Unum Group worth $95,114,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC purchased a new position in Unum Group during the 4th quarter valued at about $25,000. SHP Wealth Management purchased a new stake in shares of Unum Group in the fourth quarter worth about $25,000. MBM Wealth Consultants LLC bought a new position in shares of Unum Group in the first quarter valued at approximately $29,000. Triumph Capital Management bought a new position in shares of Unum Group in the third quarter valued at approximately $31,000. Finally, Ancora Advisors LLC grew its stake in Unum Group by 385.2% during the third quarter. Ancora Advisors LLC now owns 427 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 339 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Wall Street Analysts Forecast Growth

UNM has been the topic of several recent analyst reports. Evercore reiterated an "outperform" rating and issued a $106.00 target price on shares of Unum Group in a research note on Tuesday, July 7th. Wells Fargo & Company boosted their price target on shares of Unum Group from $100.00 to $101.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Barclays upped their price target on shares of Unum Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Truist Financial increased their price objective on Unum Group from $88.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised Unum Group from a "sell" rating to a "hold" rating in a research note on Saturday, April 11th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Unum Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.25.

Unum Group Trading Down 0.3%

Shares of Unum Group stock opened at $88.81 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.35 and a quick ratio of 0.35. Unum Group has a 1 year low of $68.28 and a 1 year high of $93.21. The firm has a market cap of $14.19 billion, a PE ratio of 19.31, a PEG ratio of 0.89 and a beta of 0.25. The company has a 50 day simple moving average of $87.39 and a two-hundred day simple moving average of $79.81.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $2.07 by $0.07. Unum Group had a net margin of 5.86% and a return on equity of 12.60%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $2.91 billion. During the same quarter in the prior year, the firm earned $2.04 EPS. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. Unum Group has set its FY 2026 guidance at 8.600-8.90 EPS. Analysts expect that Unum Group will post 8.75 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be paid a $0.505 dividend. This is a boost from Unum Group's previous quarterly dividend of $0.46. This represents a $2.02 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, July 24th. Unum Group's payout ratio is currently 43.91%.

Insiders Place Their Bets

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 12,000 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $80.14, for a total transaction of $961,680.00. Following the sale, the executive vice president owned 42,587 shares in the company, valued at $3,412,922.18. This trade represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Unum Group Profile

Unum Group NYSE: UNM is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.

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