Envestnet Portfolio Solutions Inc. Purchases 15,562 Shares of Unum Group $UNM

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Unum Group by 311.9% in the second quarter, acquiring an additional 15,562 shares and bringing its total holdings to 20,552 shares worth approximately $1.66 million.
• Several analysts have raised their price targets for Unum Group, with Morgan Stanley increasing it from $79.00 to $81.00 while others ranging from $92.00 to $98.00, reflecting a generally positive outlook on the stock.
• Unum Group will pay a quarterly dividend of $0.46 per share on November 14th, translating to an annual yield of 2.4% and a dividend payout ratio of 22.01%.

Envestnet Portfolio Solutions Inc. lifted its position in shares of Unum Group (NYSE:UNM - Free Report) by 311.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,552 shares of the financial services provider's stock after purchasing an additional 15,562 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Unum Group were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. bought a new stake in shares of Unum Group during the second quarter worth about $28,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Unum Group during the first quarter worth about $30,000. Atwood & Palmer Inc. grew its holdings in shares of Unum Group by 100.0% during the second quarter. Atwood & Palmer Inc. now owns 400 shares of the financial services provider's stock worth $32,000 after purchasing an additional 200 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Unum Group during the first quarter worth about $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings 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 purchasing an additional 317 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on UNM shares. Morgan Stanley boosted their price target on Unum Group from $79.00 to $81.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 7th. Wells Fargo & Company cut their price target on Unum Group from $100.00 to $98.00 and set an "overweight" rating on the stock in a report on Wednesday, October 8th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $95.00 price target (down from $100.00) on shares of Unum Group in a report on Thursday, July 31st. 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 report on Tuesday, July 8th. Finally, 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 report on Thursday, July 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $93.23.

Unum Group Trading Up 2.3%

Shares of Unum Group stock opened at $75.42 on Friday. The stock has a fifty day simple moving average of $73.83 and a 200 day simple moving average of $76.85. Unum Group has a 12-month low of $61.37 and a 12-month high of $84.48. The company has a market capitalization of $12.84 billion, a P/E ratio of 9.02, a price-to-earnings-growth ratio of 1.21 and a beta of 0.36. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31.

Unum Group (NYSE:UNM - Get Free Report) last announced 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 last year, the company posted $2.16 EPS. The company's quarterly 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. On average, sell-side analysts anticipate that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Friday, October 24th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Friday, October 24th. Unum Group's dividend payout ratio is 22.01%.

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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