Comerica Bank Reduces Stake in Unum Group $UNM

Key Points

• Comerica Bank has reduced its stake in Unum Group by 10.8%, selling 11,701 shares and now holds 96,374 shares valued at approximately $7,851,000.
• Unum Group recently increased its quarterly dividend to $0.46, up from $0.42, representing an annualized dividend of $1.84 and a yield of 2.6%.
• Despite missing EPS estimates in its latest earnings report, Unum Group's revenue grew by 4.0% year-over-year, indicating strong financial performance.

Comerica Bank decreased its stake in shares of Unum Group (NYSE:UNM - Free Report) by 10.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 96,374 shares of the financial services provider's stock after selling 11,701 shares during the period. Comerica Bank owned 0.06% of Unum Group worth $7,851,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in UNM. Balyasny Asset Management L.P. purchased a new stake in Unum Group during the 4th quarter worth about $113,962,000. Zurich Insurance Group Ltd FI bought a new position in Unum Group in the 4th quarter worth about $105,199,000. Invesco Ltd. increased its stake in Unum Group by 155.6% in the 1st quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider's stock worth $185,604,000 after acquiring an additional 1,387,139 shares during the last quarter. Nuveen LLC bought a new position in Unum Group in the 1st quarter worth about $93,287,000. Finally, Freestone Grove Partners LP bought a new position in Unum Group in the 4th quarter worth about $65,096,000. Hedge funds and other institutional investors own 86.57% of the company's stock.

Unum Group Price Performance

Shares of Unum Group stock opened at $69.64 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $11.86 billion, a PE ratio of 8.33, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40. The business's 50-day moving average price is $75.95 and its 200-day moving average price is $77.71. Unum Group has a 12 month low of $52.71 and a 12 month 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 earnings per share (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 company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the previous year, the business earned $2.16 earnings per share. Unum Group's revenue was up 4.0% compared to the same quarter last year. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. 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 announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date was Friday, July 25th. This is a boost from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio (DPR) is 22.01%.

Analysts Set New Price Targets

UNM has been the topic of a number of research analyst reports. UBS Group set a $87.00 target price on Unum Group and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Wells Fargo & Company decreased their target price on Unum Group from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Piper Sandler upped their target price on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. JPMorgan Chase & Co. upped their target price on Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $95.00 target price (down from $100.00) on shares of Unum Group in a research note on Thursday, July 31st. One equities 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.15.

About Unum Group

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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