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Invesco Ltd. Grows Stock Position in Unum Group (NYSE:UNM)

Unum Group logo with Finance background

Key Points

  • Invesco Ltd. significantly increased its stake in Unum Group by 155.6% during the first quarter, acquiring over 1.3 million additional shares, bringing its total holdings to 2,278,473 shares valued at $185.6 million.
  • Unum Group's quarterly earnings reported an EPS of $2.07, which was below analysts' consensus of $2.23, despite revenue slightly surpassing expectations at $3.36 billion.
  • The company announced a dividend increase to $0.46 per share, up from $0.42, representing an annualized yield of 2.6% and a dividend payout ratio of 22.01%.
  • Want stock alerts on Unum Group? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Invesco Ltd. increased its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 155.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,278,473 shares of the financial services provider's stock after buying an additional 1,387,139 shares during the quarter. Invesco Ltd. owned about 1.31% of Unum Group worth $185,604,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in Unum Group during the first quarter worth about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in 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 buying an additional 317 shares during the period. Rossby Financial LCC purchased a new position in Unum Group during the first quarter worth about $46,000. Wayfinding Financial LLC purchased a new position in Unum Group during the first quarter worth about $49,000. Finally, Cullen Frost Bankers Inc. lifted its position in Unum Group by 1,289.7% during the first 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. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on UNM shares. UBS Group set a $87.00 target price on Unum Group and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Morgan Stanley upped their price target on Unum Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Wells Fargo & Company dropped their price target on Unum Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. 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 research note on Thursday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Unum Group currently has a consensus rating of "Moderate Buy" and an average target price of $91.62.

View Our Latest Analysis on UNM

Unum Group Price Performance

UNM stock opened at $71.00 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30. Unum Group has a 1 year low of $52.71 and a 1 year high of $84.48. The firm has a market cap of $12.09 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. The stock has a 50-day simple moving average of $77.89 and a 200-day simple moving average of $78.20.

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

Unum Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a $0.46 dividend. This is an increase from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, July 25th. Unum Group's dividend payout ratio (DPR) is currently 22.01%.

About Unum Group

(Free Report)

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.

See Also

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).

Institutional Ownership by Quarter for Unum Group (NYSE:UNM)

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.

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