Unum Group $UNM Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. has reduced its stake in Unum Group by 4.5% in the first quarter, now owning 181,605 shares valued at $14.79 million.
• Unum Group recently reported earnings per share (EPS) of $2.07, falling short of the expected $2.23, with a revenue of $3.36 billion, slightly above expectations.
• The company's quarterly dividend increased to $0.46 per share, reflecting a positive change and translating to an annualized dividend yield of 2.7%.

Corebridge Financial Inc. trimmed its stake in shares of Unum Group (NYSE:UNM - Free Report) by 4.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 181,605 shares of the financial services provider's stock after selling 8,589 shares during the period. Corebridge Financial Inc. owned approximately 0.10% of Unum Group worth $14,794,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new stake in Unum Group during the first quarter valued at approximately $35,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Unum Group by 196.9% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider's stock worth $39,000 after acquiring an additional 317 shares during the last quarter. Rossby Financial LCC purchased a new stake in Unum Group during the first quarter valued at $46,000. Wayfinding Financial LLC purchased a new stake in Unum Group during the first quarter valued at $49,000. Finally, Cullen Frost Bankers Inc. raised its stake in Unum Group by 1,289.7% during the first quarter. Cullen Frost Bankers Inc. now owns 806 shares of the financial services provider's stock valued at $66,000 after purchasing an additional 748 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on UNM shares. JPMorgan Chase & Co. upped their price target on shares of Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Barclays set a $96.00 target price on shares of Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. Morgan Stanley cut their price target on shares of Unum Group from $85.00 to $79.00 and set an "equal weight" rating on the stock in a report on Monday, August 18th. Evercore ISI lowered their price target on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $91.15.

Unum Group Stock Performance

UNM traded up $0.54 during trading on Friday, reaching $69.86. 956,166 shares of the company's stock were exchanged, compared to its average volume of 1,412,408. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $11.90 billion, a P/E ratio of 8.36, a price-to-earnings-growth ratio of 1.17 and a beta of 0.40. The company's fifty day simple moving average is $75.77 and its 200-day simple moving average is $77.66. 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 posted its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.16). The firm had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.35 billion. Unum Group had a net margin of 11.77% and a return on equity of 13.44%. Unum Group's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $2.16 earnings per share. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. As a group, research analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were paid 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 yield of 2.6%. This is an increase from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio is 22.01%.

Unum Group 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.