Charles Schwab Investment Management Inc. Acquires 264,268 Shares of Unum Group (NYSE:UNM)

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Unum Group by 4.8%, acquiring an additional 264,268 shares, bringing its total holdings to approximately $473.8 million.
• Unum Group reported quarterly earnings of $2.07 EPS, missing the consensus estimate of $2.23, while revenue increased by 4% compared to the previous year.
• The company declared a quarterly dividend of $0.46 per share, an increase from the previous dividend of $0.42, reflecting a positive change in their payout strategy.

Charles Schwab Investment Management Inc. raised its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,816,520 shares of the financial services provider's stock after acquiring an additional 264,268 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.34% of Unum Group worth $473,814,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on UNM. Wells Fargo & Company decreased their target price on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, July 30th. Morgan Stanley upped their price target on shares of Unum Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Evercore ISI lowered their price objective on Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Barclays set a $96.00 target price on Unum Group and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, Piper Sandler raised their price target on Unum Group from $88.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Five 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's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $91.62.

Unum Group Stock Performance

NYSE:UNM opened at $68.52 on Friday. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of 8.20, a PEG ratio of 1.13 and a beta of 0.40. The business has a 50 day moving average of $78.82 and a 200 day moving average of $78.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. Unum Group has a 1-year low of $52.65 and a 1-year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly 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 business had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the business posted $2.16 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. On average, sell-side analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently declared 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. The ex-dividend date is Friday, July 25th. This is a positive change from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 2.7%. Unum Group's dividend payout ratio (DPR) is currently 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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