Cinctive Capital Management LP Takes $3.35 Million Position in Unum Group $UNM

Key Points

• Cinctive Capital Management LP has acquired a new stake in Unum Group worth approximately $3.35 million, purchasing 41,098 shares in the first quarter.
• Unum Group is experiencing positive interest from institutional investors, with notable increases in holdings by firms like Invesco Ltd and Charles Schwab Investment Management.
• The company recently increased its quarterly dividend to $0.46 per share, reflecting an annualized dividend yield of 2.5%.

Cinctive Capital Management LP acquired a new stake in Unum Group (NYSE:UNM - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 41,098 shares of the financial services provider's stock, valued at approximately $3,348,000.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Unum Group by 4.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,816,520 shares of the financial services provider's stock valued at $473,814,000 after buying an additional 264,268 shares during the last quarter. Invesco Ltd. raised its holdings in Unum Group by 155.6% during the 1st quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider's stock valued at $185,604,000 after buying an additional 1,387,139 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Unum Group by 13.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,654,489 shares of the financial services provider's stock valued at $134,775,000 after buying an additional 191,572 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Unum Group during the 4th quarter valued at $105,199,000. Finally, Royal Bank of Canada raised its holdings in Unum Group by 0.5% during the 1st quarter. Royal Bank of Canada now owns 1,416,124 shares of the financial services provider's stock valued at $115,358,000 after buying an additional 6,648 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on UNM. UBS Group set a $87.00 price target on shares of Unum Group and gave the company a "neutral" rating in a report on Wednesday, July 30th. Barclays set a $96.00 price objective on shares of Unum Group and gave the company an "overweight" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. boosted their price objective on shares of Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Evercore ISI reduced their price objective on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Finally, Morgan Stanley reduced their price objective on shares of Unum Group from $85.00 to $79.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Unum Group presently has an average rating of "Moderate Buy" and a consensus price target of $91.15.

Unum Group Stock Up 0.3%

NYSE:UNM opened at $72.99 on Friday. The firm's 50-day moving average price is $74.95 and its 200-day moving average price is $77.53. The company has a market capitalization of $12.43 billion, a PE ratio of 8.73, a P/E/G ratio of 1.23 and a beta of 0.38. 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 $52.71 and a 1-year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). The business had revenue of $3.36 billion during the quarter, compared to analysts' expectations of $3.35 billion. Unum Group had a return on equity of 13.44% and a net margin of 11.77%.The firm's quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.16 earnings per share. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. On average, equities analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were given a $0.46 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.5%. This is a boost from Unum Group's previous quarterly dividend of $0.42. Unum Group's payout ratio 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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