Concurrent Investment Advisors LLC Increases Stake in Unum Group (NYSE:UNM)

Concurrent Investment Advisors LLC grew its stake in Unum Group (NYSE:UNM - Free Report) by 58.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,401 shares of the financial services provider's stock after purchasing an additional 11,524 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Unum Group were worth $2,558,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Millstone Evans Group LLC bought a new stake in Unum Group during the 4th quarter worth approximately $45,000. Rossby Financial LCC acquired a new position in Unum Group during the first quarter worth $46,000. Wayfinding Financial LLC bought a new stake in Unum Group in the first quarter valued at approximately $49,000. SBI Securities Co. Ltd. acquired a new position in Unum Group in the 4th quarter valued at about $91,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Unum Group in the fourth quarter valued at about $102,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. UBS Group set a $89.00 target price on Unum Group and gave the company a "neutral" rating in a research report on Friday, May 23rd. Morgan Stanley lifted their target price on Unum Group from $76.00 to $83.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Keefe, Bruyette & Woods lowered their price target on shares of 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 target price on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Unum Group from $97.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Five investment 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 stock. According to data from MarketBeat.com, Unum Group has an average rating of "Moderate Buy" and an average price target of $90.00.

Unum Group Stock Performance

NYSE UNM traded down $0.79 during trading hours on Tuesday, reaching $80.94. 1,203,043 shares of the company were exchanged, compared to its average volume of 1,331,450. The business's 50 day simple moving average is $80.16 and its 200-day simple moving average is $77.76. 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 has a 1 year low of $50.03 and a 1 year high of $84.48. The stock has a market capitalization of $14.11 billion, a P/E ratio of 9.53, a P/E/G ratio of 1.29 and a beta of 0.41.

Unum Group (NYSE:UNM - Get Free Report) last issued its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). Unum Group had a return on equity of 14.17% and a net margin of 12.31%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.34 billion. During the same quarter in the prior year, the business earned $2.12 EPS. Unum Group's revenue for the quarter was down 3.4% compared to the same quarter last year. On average, equities research analysts expect that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 16th. Stockholders of record on Friday, April 25th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.08%. Unum Group's payout ratio is currently 19.79%.

Insider Buying and Selling

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the firm'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 sale, the executive vice president directly owned 51,170 shares of the company's stock, valued at $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.93% of the stock is currently owned by insiders.

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.