Burney Co. Sells 22,087 Shares of Unum Group (NYSE:UNM)

Burney Co. decreased its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 20.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,598 shares of the financial services provider's stock after selling 22,087 shares during the period. Burney Co.'s holdings in Unum Group were worth $6,810,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in shares of Unum Group during the 1st quarter valued at $46,000. Wayfinding Financial LLC bought a new stake in shares of Unum Group during the 1st quarter valued at $49,000. Cullen Frost Bankers Inc. raised its position in shares of Unum Group by 1,289.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 806 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 748 shares during the last quarter. Kapitalo Investimentos Ltda bought a new stake in shares of Unum Group during the 4th quarter valued at $102,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Unum Group by 60.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,282 shares of the financial services provider's stock valued at $104,000 after acquiring an additional 482 shares during the last quarter. Institutional investors own 86.57% of the company's stock.

Wall Street Analyst Weigh In

UNM has been the subject of several research analyst reports. Wells Fargo & Company boosted their price target on shares of Unum Group from $97.00 to $105.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods reduced their target price on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Barclays set a $96.00 target price on shares of Unum Group and gave the stock an "overweight" rating in a research note on Monday, July 7th. Piper Sandler upped their target price on shares of Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.14.

Insiders Place Their Bets

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the transaction, the executive vice president owned 51,170 shares in the company, valued at approximately $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.93% of the company's stock.

Unum Group Stock Performance

NYSE UNM opened at $80.63 on Wednesday. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 1.25 and a beta of 0.41. Unum Group has a twelve month low of $51.80 and a twelve month high of $84.48. The stock has a fifty day simple moving average of $80.34 and a 200 day simple moving average of $78.28. 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 (NYSE:UNM - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.15). Unum Group had a net margin of 12.31% and a return on equity of 14.17%. The firm had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.34 billion. During the same quarter last year, the business posted $2.12 EPS. The company's quarterly revenue was down 3.4% on a year-over-year basis. Sell-side analysts expect that Unum Group will post 9.14 EPS for the current year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, July 25th. This is a boost from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio is 19.79%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.