Corient Private Wealth LP Sells 73,784 Shares of Unum Group $UNM

Key Points

• Corient Private Wealth reduced its Unum Group stake by 35.6% in the second quarter, selling 73,784 shares and retaining 133,576 shares valued at approximately $11.9 million. Institutional investors collectively own 86.57% of the company.
• Unum’s analyst outlook remains favorable, with eight Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $99.42. The stock recently traded at $95.95, near its 52-week high of $96.77.
• The company authorized a $1 billion share-repurchase program covering up to 7% of outstanding shares and increased its quarterly dividend to $0.505 per share, or $2.02 annualized.

Corient Private Wealth LP trimmed its stake in shares of Unum Group (NYSE:UNM - Free Report) by 35.6% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 133,576 shares of the financial services provider's stock after selling 73,784 shares during the quarter. Corient Private Wealth LP owned about 0.08% of Unum Group worth $11,942,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Amundi lifted its holdings in shares of Unum Group by 1,140.5% during the 2nd quarter. Amundi now owns 340,443 shares of the financial services provider's stock worth $30,436,000 after acquiring an additional 312,999 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Unum Group during the 2nd quarter worth $18,096,000. Wedmont Private Capital boosted its stake in Unum Group by 2.1% in the second quarter. Wedmont Private Capital now owns 11,963 shares of the financial services provider's stock valued at $1,047,000 after buying an additional 250 shares in the last quarter. HB Wealth Management LLC raised its stake in Unum Group by 14.6% during the second quarter. HB Wealth Management LLC now owns 18,464 shares of the financial services provider's stock worth $1,651,000 after acquiring an additional 2,352 shares in the last quarter. Finally, Syon Capital LLC lifted its holdings in shares of Unum Group by 26.8% in the second quarter. Syon Capital LLC now owns 8,759 shares of the financial services provider's stock worth $783,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors own 86.57% of the company's stock.

Insiders Place Their Bets

In other news, CAO Walter Lynn Rice, Jr. sold 2,188 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $94.31, for a total value of $206,350.28. Following the transaction, the chief accounting officer owned 8,154 shares in the company, valued at $769,003.74. This trade represents a 21.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Lisa G. Iglesias sold 4,000 shares of the stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $94.44, for a total value of $377,760.00. Following the completion of the sale, the executive vice president directly owned 25,453 shares of the company's stock, valued at $2,403,781.32. The trade was a 13.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 10,488 shares of company stock worth $988,396. Insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on UNM shares. Keefe, Bruyette & Woods cut their target price on shares of Unum Group from $110.00 to $108.00 and set an "outperform" rating on the stock in a research report on Thursday, July 30th. Jefferies Financial Group boosted their price target on Unum Group from $117.00 to $123.00 and gave the stock a "buy" rating in a report on Friday, July 10th. Atlantic Securities set a $88.00 target price on shares of Unum Group in a research report on Wednesday, July 15th. Barclays lifted their price target on shares of Unum Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Monday, July 6th. Finally, Wells Fargo & Company lifted their target price on Unum Group from $100.00 to $101.00 and gave the stock an "overweight" rating in a report on Thursday, July 9th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.42.

Unum Group Price Performance

Unum Group stock opened at $95.95 on Wednesday. The stock's 50 day moving average price is $90.37 and its two-hundred day moving average price is $84.18. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.00 and a beta of 0.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.34 and a current ratio of 0.34. Unum Group has a 52-week low of $69.02 and a 52-week high of $96.77.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $2.16 EPS for the quarter, hitting analysts' consensus estimates of $2.16. The business had revenue of $3.39 billion during the quarter, compared to analysts' expectations of $2.90 billion. Unum Group had a net margin of 5.26% and a return on equity of 12.60%. The business's quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company posted $1.92 earnings per share. Unum Group has set its FY 2026 guidance at 8.600-8.900 EPS. On average, equities analysts predict that Unum Group will post 8.64 earnings per share for the current year.

Unum Group declared that its Board of Directors has initiated a share repurchase plan on Wednesday, August 26th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 24th were paid a dividend of $0.505 per share. This is a boost from Unum Group's previous quarterly dividend of $0.46. The ex-dividend date was Friday, July 24th. This represents a $2.02 dividend on an annualized basis and a yield of 2.1%. Unum Group's dividend payout ratio (DPR) is presently 47.09%.

Unum Group Company Profile

Unum Group is an insurance company that provides financial protection and employee benefits through workplace and individual products. Its offerings include disability insurance, life insurance, accident insurance, critical illness coverage, and related benefits designed to help individuals and families manage income loss and other financial risks.

The company serves employers, employees, and individual customers primarily in the United States, the United Kingdom, and Ireland. Its products are distributed through employers, insurance brokers, benefits advisers, and other intermediaries.

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