Exchange Traded Concepts LLC Decreases Stock Holdings in Unum Group (NYSE:UNM)

Exchange Traded Concepts LLC cut its holdings in Unum Group (NYSE:UNM - Free Report) by 27.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,963 shares of the financial services provider's stock after selling 3,862 shares during the quarter. Exchange Traded Concepts LLC's holdings in Unum Group were worth $812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UNM. Kestra Investment Management LLC purchased a new stake in Unum Group in the fourth quarter valued at about $38,000. Millstone Evans Group LLC purchased a new stake in Unum Group in the fourth quarter valued at about $45,000. Duncker Streett & Co. Inc. purchased a new stake in Unum Group in the fourth quarter valued at about $58,000. Venturi Wealth Management LLC raised its stake in Unum Group by 30.0% in the fourth quarter. Venturi Wealth Management LLC now owns 1,206 shares of the financial services provider's stock valued at $88,000 after buying an additional 278 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Unum Group in the fourth quarter valued at about $91,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on UNM shares. Wall Street Zen cut Unum Group from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Piper Sandler increased their price objective on Unum Group from $87.00 to $92.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Wells Fargo & Company increased their price objective on Unum Group from $95.00 to $97.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Morgan Stanley increased their price objective on Unum Group from $76.00 to $83.00 and gave the company an "equal weight" rating in a report on Monday, May 19th. Finally, Raymond James Financial raised Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 price objective on the stock in a report on Wednesday, March 5th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Unum Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.29.

Insider Buying and Selling at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the transaction, the executive vice president now owns 51,170 shares in the company, valued at $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.92% of the stock is owned by corporate insiders.

Unum Group Stock Up 1.0%

Shares of UNM opened at $79.20 on Friday. 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 has a 12 month low of $49.63 and a 12 month high of $84.48. The stock's 50 day moving average is $79.38 and its two-hundred day moving average is $77.15. The firm has a market cap of $13.81 billion, a P/E ratio of 9.33, a PEG ratio of 1.23 and a beta of 0.43.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $2.04 EPS for the quarter, missing the consensus estimate of $2.19 by ($0.15). Unum Group had a net margin of 12.31% and a return on equity of 14.17%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.34 billion. During the same period in the previous year, the business posted $2.12 earnings per share. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. Analysts predict 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 was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, April 25th. Unum Group's payout ratio is currently 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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