Cerity Partners LLC Increases Position in Unum Group (NYSE:UNM)

Cerity Partners LLC lifted its position in shares of Unum Group (NYSE:UNM - Free Report) by 9.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 86,348 shares of the financial services provider's stock after buying an additional 7,462 shares during the period. Cerity Partners LLC's holdings in Unum Group were worth $7,034,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of UNM. Stratos Wealth Partners LTD. grew 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 valued at $310,000 after acquiring an additional 838 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of Unum Group in the 4th quarter valued at $240,000. Asset Management One Co. Ltd. boosted its stake in shares of Unum Group by 88.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 17,302 shares of the financial services provider's stock valued at $1,409,000 after purchasing an additional 8,120 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings 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 valued at $77,512,000 after purchasing an additional 632,358 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Unum Group during the 4th quarter valued at $105,199,000. 86.57% of the stock is owned by hedge funds and other institutional investors.

Unum Group Trading Up 1.9%

Shares of UNM traded up $1.51 during mid-day trading on Wednesday, hitting $80.48. 1,292,340 shares of the company's stock traded hands, compared to its average volume of 1,331,417. 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 firm has a market capitalization of $14.03 billion, a P/E ratio of 9.48, a PEG ratio of 1.27 and a beta of 0.41. The business's 50-day moving average price is $80.34 and its 200-day moving average price is $78.02. Unum Group has a 1 year low of $51.80 and a 1 year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). Unum Group had a net margin of 12.31% and a return on equity of 14.17%. The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.34 billion. During the same period in the previous year, the firm posted $2.12 earnings per share. The firm's revenue for the quarter was down 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 2.29%. 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. Unum Group's payout ratio is presently 19.79%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group set a $89.00 price target on shares of Unum Group and gave the company a "neutral" rating in a research report on Friday, May 23rd. Barclays set a $96.00 target price on Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods dropped their target price on Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler lifted their price target on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley boosted their price objective on Unum Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.14.

Insider Buying and Selling at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of Unum Group stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the sale, the executive vice president directly owned 51,170 shares in the company, valued at $4,093,600. The trade was a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.93% of the company's stock.

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.