Bank of Nova Scotia Has $1.92 Million Stock Position in Unum Group (NYSE:UNM)

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

A number of other hedge funds have also recently made changes to their positions in UNM. Northern Trust Corp increased its stake in Unum Group by 33.2% in the 4th quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider's stock valued at $140,973,000 after buying an additional 480,926 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Unum Group by 15.4% during the 4th quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider's stock worth $124,768,000 after buying an additional 227,644 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Unum Group by 13.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,654,489 shares of the financial services provider's stock worth $134,775,000 after buying an additional 191,572 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Unum Group during the 4th quarter worth approximately $113,962,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Unum Group during the 4th quarter worth approximately $105,199,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Stock Performance

Shares of UNM stock opened at $70.55 on Thursday. The stock has a market capitalization of $12.02 billion, a P/E ratio of 8.44, a PEG ratio of 1.13 and a beta of 0.40. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31. The firm's 50 day moving average is $79.08 and its 200 day moving average is $78.39. 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 posted its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). The firm 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 business's revenue was up 4.0% on a year-over-year basis. During the same period last year, the company posted $2.16 EPS. On average, sell-side analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Increases Dividend

The company 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 dividend of $0.46 per share. This is a boost from Unum Group's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. Unum Group's payout ratio is currently 22.01%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI dropped their target price on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $95.00 target price (down from $100.00) on shares of Unum Group in a research report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Piper Sandler increased their target price on shares of Unum Group from $88.00 to $92.00 and gave the company an "overweight" rating in a research report on Thursday, July 3rd. Finally, Barclays set a $96.00 target price on shares of Unum Group and gave the company an "overweight" rating in a research report on Monday, July 7th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average 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.

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