Kingsman Wealth Management Inc. Lowers Holdings in Unum Group $UNM

Key Points

• Kingsman Wealth Management Inc. has reduced its holdings in Unum Group by 57.8% during the second quarter, now owning 3,016 shares valued at $244,000.
• Unum Group recently announced a raise in its quarterly dividend from $0.42 to $0.46 per share, resulting in an annualized yield of 2.4%.
• Wall Street analysts show a cautious optimism towards Unum Group, with the average rating at "Moderate Buy" and an average price target of $91.14.

Kingsman Wealth Management Inc. reduced its position in Unum Group (NYSE:UNM - Free Report) by 57.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,016 shares of the financial services provider's stock after selling 4,134 shares during the quarter. Kingsman Wealth Management Inc.'s holdings in Unum Group were worth $244,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. acquired a new position in shares of Unum Group during the second quarter worth about $28,000. Vermillion & White Wealth Management Group LLC purchased a new stake in Unum Group in the 1st quarter valued at approximately $30,000. Atwood & Palmer Inc. increased its position in Unum Group by 100.0% during the 2nd 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 period. N.E.W. Advisory Services LLC purchased a new position in shares of Unum Group during the 1st quarter worth approximately $35,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Unum Group by 196.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider's stock valued at $39,000 after buying an additional 317 shares during the period. Institutional investors and hedge funds own 86.57% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on UNM shares. JPMorgan Chase & Co. upped their price objective on Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. UBS Group set a $87.00 price target on shares of Unum Group and gave the stock a "neutral" rating in a research note on Wednesday, July 30th. Morgan Stanley reduced their price objective on shares of Unum Group from $85.00 to $79.00 and set an "equal weight" rating for the company in a research note on Monday, August 18th. Wolfe Research raised shares of Unum Group to a "strong-buy" rating in a report on Tuesday, September 16th. Finally, Wells Fargo & Company dropped their target price on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Unum Group presently has an average rating of "Moderate Buy" and an average price target of $91.14.

Unum Group Stock Performance

NYSE:UNM opened at $76.79 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. The company has a market capitalization of $13.08 billion, a P/E ratio of 9.19, a price-to-earnings-growth ratio of 1.30 and a beta of 0.38. The firm has a 50-day moving average price of $73.24 and a two-hundred day moving average price of $77.25. Unum Group has a twelve month low of $57.57 and a twelve month high of $84.48.

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 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 analysts' expectations of $3.35 billion. During the same period last year, the company earned $2.16 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. As a group, research analysts expect that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were issued a dividend of $0.46 per share. This is a boost from Unum Group's previous quarterly dividend of $0.42. The ex-dividend date was Friday, July 25th. This represents a $1.84 dividend on an annualized basis and a yield of 2.4%. Unum Group's payout ratio is currently 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.

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.