Bank of Nova Scotia Sells 79,977 Shares of Unum Group (NYSE:UNM)

Bank of Nova Scotia lowered its holdings in Unum Group (NYSE:UNM - Free Report) by 77.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,551 shares of the financial services provider's stock after selling 79,977 shares during the period. Bank of Nova Scotia's holdings in Unum Group were worth $1,918,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in UNM. Stratos Wealth Partners LTD. lifted its position in Unum Group by 28.3% during the first quarter. Stratos Wealth Partners LTD. now owns 3,802 shares of the financial services provider's stock worth $310,000 after purchasing an additional 838 shares during the period. Wellington Management Group LLP acquired a new position in shares of Unum Group in the 4th quarter valued at approximately $240,000. Asset Management One Co. Ltd. lifted its holdings in shares of Unum Group by 88.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 17,302 shares of the financial services provider's stock worth $1,409,000 after acquiring an additional 8,120 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Unum Group by 202.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 945,271 shares of the financial services provider's stock worth $77,512,000 after acquiring an additional 632,358 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in Unum Group in the fourth quarter valued at approximately $105,199,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Unum Group Trading Up 1.2%

Shares of UNM stock traded up $0.85 during trading hours on Friday, hitting $69.40. 1,637,427 shares of the company's stock traded hands, compared to its average volume of 1,714,613. The stock has a market cap of $11.82 billion, a PE ratio of 8.30, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40. The stock's 50 day simple moving average is $78.57 and its 200 day simple moving average is $78.32. 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 has a 12 month low of $52.65 and a 12 month high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.16). The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. Unum Group had a return on equity of 13.44% and a net margin of 11.77%. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.16 earnings per share. On average, sell-side analysts anticipate that Unum Group will post 9.14 EPS for the current year.

Unum Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a $0.46 dividend. The ex-dividend date is Friday, July 25th. This is a boost from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 2.7%. Unum Group's dividend payout ratio (DPR) is currently 22.01%.

Analyst Ratings Changes

Several equities research analysts have weighed in on UNM shares. Keefe, Bruyette & Woods restated an "outperform" rating and set a $95.00 target price (down from $100.00) on shares of Unum Group in a research note on Thursday, July 31st. UBS Group set a $87.00 price objective on Unum Group and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Piper Sandler lifted their target price on Unum Group from $88.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Wells Fargo & Company lowered their target price on Unum Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Finally, Evercore ISI reduced their price target on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.62.

Unum Group Company 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.