Envestnet Asset Management Inc. Sells 31,818 Shares of Unum Group (NYSE:UNM)

Envestnet Asset Management Inc. lowered its stake in shares of Unum Group (NYSE:UNM - Free Report) by 40.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,315 shares of the financial services provider's stock after selling 31,818 shares during the period. Envestnet Asset Management Inc.'s holdings in Unum Group were worth $3,854,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Concurrent Investment Advisors LLC raised its stake in shares of Unum Group by 58.0% during the 1st quarter. Concurrent Investment Advisors LLC now owns 31,401 shares of the financial services provider's stock worth $2,558,000 after purchasing an additional 11,524 shares in the last quarter. HM Payson & Co. raised its stake in Unum Group by 2.1% in the 1st quarter. HM Payson & Co. now owns 11,147 shares of the financial services provider's stock valued at $908,000 after acquiring an additional 225 shares during the period. Wayfinding Financial LLC bought a new stake in Unum Group in the 1st quarter valued at $49,000. Truist Financial Corp raised its stake in Unum Group by 0.6% in the 1st quarter. Truist Financial Corp now owns 353,622 shares of the financial services provider's stock valued at $28,806,000 after acquiring an additional 2,157 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new stake in Unum Group in the 1st quarter valued at $298,000. Institutional investors own 86.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on UNM. UBS Group set a $89.00 price target on Unum Group and gave the company a "neutral" rating in a research note on Friday, May 23rd. Morgan Stanley increased their price target on Unum Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Barclays set a $96.00 price target on Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. Keefe, Bruyette & Woods dropped their price target on Unum Group from $103.00 to $102.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. increased their price target on Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research note on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $91.77.

Insider Activity

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the sale, the executive vice president directly owned 51,170 shares of the company's stock, valued at approximately $4,093,600. This represents a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.92% of the company's stock.

Unum Group Stock Performance

UNM opened at $80.74 on Friday. The firm has a market cap of $14.08 billion, a P/E ratio of 9.51, a price-to-earnings-growth ratio of 1.27 and a beta of 0.41. Unum Group has a 52-week low of $51.80 and a 52-week high of $84.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30. The business's fifty day moving average is $80.31 and its 200-day moving average is $78.43.

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

Unum Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.46 per share. This is a positive change from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, July 25th. Unum Group's dividend payout ratio is 19.79%.

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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