Neuberger Berman Group LLC Increases Stake in Unum Group (NYSE:UNM)

Key Points

• Neuberger Berman Group LLC increased its stake in Unum Group (NYSE:UNM) by 8.1%, holding a total of 457,265 shares worth $37.25 million at the end of the reporting period.
• Unum Group announced a quarterly dividend increase to $0.46, reflecting a 2.6% annual yield and a 22.01% dividend payout ratio.
• The company's EPS for the last quarter was $2.07, missing estimates, although revenue increased by 4% year-over-year, totaling $3.36 billion.

Neuberger Berman Group LLC grew its position in Unum Group (NYSE:UNM - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 457,265 shares of the financial services provider's stock after acquiring an additional 34,377 shares during the quarter. Neuberger Berman Group LLC owned about 0.26% of Unum Group worth $37,249,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UNM shares. 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 note on Wednesday, July 30th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $95.00 price target (down previously from $100.00) on shares of Unum Group in a research note on Thursday, July 31st. Morgan Stanley raised their price target on shares of Unum Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Evercore ISI reduced their price target on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $91.62.

Unum Group Trading Up 0.9%

NYSE UNM 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. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. The company's 50-day simple moving average is $77.89 and its two-hundred day simple moving average is $78.20. Unum Group has a one year low of $52.71 and a one year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last posted its 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 for 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 last year, the business posted $2.16 EPS. Equities analysts forecast that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Increases Dividend

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

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