Hsbc Holdings PLC Cuts Stock Position in Unum Group $UNM

Key Points

• Hsbc Holdings PLC has reduced its stake in Unum Group by 31.1%, selling 34,531 shares and now holding 76,669 shares valued at $6,213,000.
• Unum Group recently declared a quarterly dividend of $0.46, up from $0.42, representing a 2.7% dividend yield.
• Despite missing earnings estimates, Unum Group's revenue increased by 4.0% year-over-year, reaching $3.36 billion for the last quarter.

Hsbc Holdings PLC lessened its holdings in Unum Group (NYSE:UNM - Free Report) by 31.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,669 shares of the financial services provider's stock after selling 34,531 shares during the period. Hsbc Holdings PLC's holdings in Unum Group were worth $6,213,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new stake in Unum Group during the 1st quarter worth $35,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Unum Group by 196.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider's stock worth $39,000 after buying an additional 317 shares during the period. Rossby Financial LCC purchased a new stake in Unum Group during the 1st quarter worth $46,000. Wayfinding Financial LLC purchased a new stake in Unum Group during the 1st quarter worth $49,000. Finally, Cullen Frost Bankers Inc. increased its stake in Unum Group by 1,289.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 806 shares of the financial services provider's stock worth $66,000 after buying an additional 748 shares during the period. Hedge funds and other institutional investors own 86.57% of the company's stock.

Unum Group Trading Down 1.1%

NYSE UNM opened at $69.1610 on Tuesday. Unum Group has a one year low of $52.71 and a one year high of $84.48. The company has a 50-day simple moving average of $76.29 and a 200-day simple moving average of $77.82. 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 firm has a market capitalization of $11.78 billion, a PE ratio of 8.27, a price-to-earnings-growth ratio of 1.18 and a beta of 0.40.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.07 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.16). Unum Group had a net margin of 11.77% and a return on equity of 13.44%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period last year, the firm posted $2.16 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. On average, equities analysts forecast that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Friday, July 25th were issued a $0.46 dividend. This is a boost from Unum Group's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.84 annualized dividend and a dividend yield of 2.7%. Unum Group's dividend payout ratio (DPR) is presently 22.01%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on UNM shares. Morgan Stanley dropped their price target on shares of Unum Group from $85.00 to $79.00 and set an "equal weight" rating on the stock in a research note on Monday, August 18th. Wells Fargo & Company reduced their price target on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Piper Sandler increased their price target on shares of Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Barclays set a $96.00 price target on shares of Unum Group and gave the stock an "overweight" rating in a research report on Monday, July 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Unum Group currently has an average rating of "Moderate Buy" and an average target price of $91.15.

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.

Want to see what other hedge funds are holding UNM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Unum Group (NYSE:UNM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.