Brandywine Global Investment Management LLC Sells 4,601 Shares of Unum Group (NYSE:UNM)

Key Points

• Brandywine Global Investment Management LLC reduced its stake in Unum Group by 4.4%, selling 4,601 shares during the 1st quarter and holding a total of 98,872 shares valued at $8,054,000.
• Unum Group reported quarterly earnings of $2.07 per share, missing analyst estimates by $0.16, despite a year-over-year revenue growth of 4% to $3.36 billion.
• The company recently increased its quarterly dividend from $0.42 to $0.46, yielding 2.7% annually, with a payout ratio of 22.01%.

Brandywine Global Investment Management LLC lessened its position in Unum Group (NYSE:UNM - Free Report) by 4.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,872 shares of the financial services provider's stock after selling 4,601 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.06% of Unum Group worth $8,054,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in Unum Group in the 4th quarter worth $247,000. Envestnet Asset Management Inc. grew its position in Unum Group by 9.0% in the 4th quarter. Envestnet Asset Management Inc. now owns 79,133 shares of the financial services provider's stock worth $5,779,000 after purchasing an additional 6,555 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Unum Group in the 4th quarter worth $19,617,000. Townsquare Capital LLC grew its position in Unum Group by 7.9% in the 4th quarter. Townsquare Capital LLC now owns 13,100 shares of the financial services provider's stock worth $957,000 after purchasing an additional 964 shares during the last quarter. Finally, Mariner LLC grew its position in Unum Group by 5.9% in the 4th quarter. Mariner LLC now owns 57,520 shares of the financial services provider's stock worth $4,201,000 after purchasing an additional 3,228 shares during the last quarter. Institutional investors own 86.57% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $95.00 price target (down from $100.00) on shares of Unum Group in a research report on Thursday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Piper Sandler upped their target price on shares of Unum Group from $88.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Evercore ISI lowered 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 note on Wednesday, July 30th. Finally, Barclays set a $96.00 target price on shares of Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $91.62.

Unum Group Price Performance

NYSE:UNM opened at $68.87 on Friday. The firm has a market cap of $11.73 billion, a PE ratio of 8.24, a price-to-earnings-growth ratio of 1.16 and a beta of 0.40. Unum Group has a 12 month low of $52.71 and a 12 month high of $84.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. The company's 50-day moving average price is $77.46 and its two-hundred day moving average price is $78.12.

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

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.7%. This is a boost from Unum Group's previous quarterly dividend of $0.42. The ex-dividend date was Friday, July 25th. Unum Group's dividend payout ratio (DPR) is presently 22.01%.

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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