Hennion & Walsh Asset Management Inc. Buys New Position in Unum Group (NYSE:UNM)

Hennion & Walsh Asset Management Inc. bought a new stake in shares of Unum Group (NYSE:UNM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The firm bought 5,670 shares of the financial services provider's stock, valued at approximately $462,000.

Several other hedge funds have also modified their holdings of UNM. Kestra Investment Management LLC purchased a new stake in Unum Group during the 4th quarter worth approximately $38,000. Millstone Evans Group LLC acquired a new position in shares of Unum Group in the 4th quarter worth approximately $45,000. Duncker Streett & Co. Inc. acquired a new position in shares of Unum Group in the 4th quarter worth approximately $58,000. V Square Quantitative Management LLC grew its position in shares of Unum Group by 36.5% in the 4th quarter. V Square Quantitative Management LLC now owns 958 shares of the financial services provider's stock worth $70,000 after acquiring an additional 256 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Unum Group by 30.0% in the 4th quarter. Venturi Wealth Management LLC now owns 1,206 shares of the financial services provider's stock worth $88,000 after acquiring an additional 278 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the business's stock in a transaction 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 sale, the executive vice president now owns 51,170 shares of the company's stock, valued at approximately $4,093,600. The trade was a 16.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.92% of the stock is owned by company insiders.

Unum Group Stock Up 2.0%

Shares of Unum Group stock opened at $81.63 on Monday. The business's fifty day moving average price is $78.59 and its two-hundred day moving average price is $77.00. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.29 and a quick ratio of 0.28. The company has a market capitalization of $14.23 billion, a P/E ratio of 8.62, a PEG ratio of 1.14 and a beta of 0.43. Unum Group has a 1-year low of $48.38 and a 1-year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.19 by ($0.15). The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.34 billion. Unum Group had a net margin of 13.81% and a return on equity of 14.91%. The firm's revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 EPS. As a group, research analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its board has approved a share buyback program on Tuesday, February 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Unum Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 16th. Shareholders of record on Friday, April 25th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.06%. The ex-dividend date was Friday, April 25th. Unum Group's payout ratio is currently 19.79%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UNM. Piper Sandler lifted their target price on Unum Group from $87.00 to $92.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 2nd. Raymond James upgraded Unum Group from a "market perform" rating to a "strong-buy" rating and set a $108.00 target price for the company in a research report on Wednesday, March 5th. Barclays lifted their target price on Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a research report on Friday, April 11th. Wells Fargo & Company lifted their target price on Unum Group from $95.00 to $97.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Morgan Stanley lifted their target price on Unum Group from $76.00 to $83.00 and gave the stock an "equal weight" rating in a research report on Monday, May 19th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.29.

About Unum Group

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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