Unum Group (NYSE:UNM) Position Decreased by Barnett & Company Inc.

Key Points

• Barnett & Company Inc. reduced its stake in Unum Group by 11.7%, now holding approximately $10.51 million worth of shares, making it their largest investment at 8.8% of their portfolio.
• Several institutional investors have increased their positions in Unum Group, with Charles Schwab Investment Management Inc. raising its ownership by 4.8%, now holding 5.8 million shares, valued at approximately $473.8 million.
• Unum Group recently announced a quarterly dividend increase to $0.46 per share, reflecting a 2.7% yield, up from the previous $0.42 per share.

Barnett & Company Inc. reduced its position in shares of Unum Group (NYSE:UNM - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,067 shares of the financial services provider's stock after selling 17,115 shares during the period. Unum Group comprises 8.8% of Barnett & Company Inc.'s investment portfolio, making the stock its largest holding. Barnett & Company Inc. owned approximately 0.07% of Unum Group worth $10,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in Unum Group by 4.0% in the 1st quarter. Fifth Third Bancorp now owns 3,558 shares of the financial services provider's stock valued at $290,000 after buying an additional 136 shares during the last quarter. Bessemer Group Inc. grew its stake in Unum Group by 2.2% in the 4th quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider's stock valued at $478,000 after purchasing an additional 143 shares during the period. Kovitz Investment Group Partners LLC grew its stake in Unum Group by 0.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider's stock valued at $1,330,000 after purchasing an additional 147 shares during the period. Private Trust Co. NA grew its stake in Unum Group by 7.3% in the 1st quarter. Private Trust Co. NA now owns 2,757 shares of the financial services provider's stock valued at $225,000 after purchasing an additional 187 shares during the period. Finally, Belpointe Asset Management LLC grew its stake in Unum Group by 2.1% in the 4th quarter. Belpointe Asset Management LLC now owns 9,151 shares of the financial services provider's stock valued at $668,000 after purchasing an additional 189 shares during the period. 86.57% of the stock is currently owned by institutional investors.

Unum Group Stock Performance

Shares of UNM stock traded up $0.94 on Tuesday, hitting $70.33. 1,068,536 shares of the stock were exchanged, compared to its average volume of 1,762,946. 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 has a market capitalization of $11.98 billion, a PE ratio of 8.41, a P/E/G ratio of 1.12 and a beta of 0.40. Unum Group has a one year low of $52.71 and a one year high of $84.48. The firm's 50 day moving average is $78.09 and its two-hundred day moving average is $78.25.

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

Unum Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be paid a $0.46 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.84 annualized dividend and a yield of 2.6%. This is an increase from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio is 22.01%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on UNM. Barclays set a $96.00 price objective on Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. UBS Group set a $87.00 price objective on Unum Group and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Wells Fargo & Company reduced their price objective 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. Evercore ISI reduced their price objective on Unum Group from $100.00 to $96.00 and set an "outperform" rating for the company in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Unum Group presently has a consensus rating of "Moderate Buy" and an average price target of $91.62.

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.