New Age Alpha Advisors LLC Reduces Stock Holdings in Unum Group (NYSE:UNM)

Key Points

• New Age Alpha Advisors LLC has reduced its stake in Unum Group by 7.1%, now owning 95,799 shares valued at approximately $7.8 million.
• Unum Group announced a quarterly dividend increase to $0.46 per share, representing an annual yield of 2.6%, to be paid on August 15.
• The company reported $2.07 earnings per share for the latest quarter, below analyst expectations of $2.23, despite revenue of $3.36 billion.

New Age Alpha Advisors LLC reduced its stake in shares of Unum Group (NYSE:UNM - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 95,799 shares of the financial services provider's stock after selling 7,344 shares during the quarter. New Age Alpha Advisors LLC owned 0.05% of Unum Group worth $7,804,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of UNM. Northern Trust Corp increased its holdings in Unum Group by 33.2% during the 4th quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider's stock worth $140,973,000 after purchasing an additional 480,926 shares during the last quarter. First Trust Advisors LP increased its holdings in Unum Group by 15.4% during the 4th quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider's stock worth $124,768,000 after purchasing an additional 227,644 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Unum Group by 13.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,654,489 shares of the financial services provider's stock worth $134,775,000 after purchasing an additional 191,572 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Unum Group during the 4th quarter worth approximately $113,962,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Unum Group during the 4th quarter worth approximately $105,199,000. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Unum Group Trading Up 0.4%

NYSE:UNM opened at $70.00 on Tuesday. Unum Group has a 12-month low of $51.80 and a 12-month high of $84.48. The firm has a market capitalization of $11.92 billion, a P/E ratio of 8.37, a P/E/G ratio of 1.12 and a beta of 0.40. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The business has a 50 day simple moving average of $79.51 and a 200 day simple moving average of $78.50.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). Unum Group had a net margin of 11.77% and a return on equity of 13.44%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the firm earned $2.16 EPS. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. Equities research analysts predict that Unum Group will post 9.14 EPS for the current year.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, July 25th. This represents a $1.84 dividend on an annualized basis and a yield of 2.6%. This is an increase from Unum Group's previous quarterly dividend of $0.42. Unum Group's payout ratio is presently 22.01%.

Insider Transactions at Unum Group

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the transaction, the executive vice president owned 51,170 shares in the company, valued at $4,093,600. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

UNM has been the topic of several analyst reports. UBS Group set a $87.00 price objective on Unum Group and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Barclays set a $96.00 price objective on Unum Group and gave the stock an "overweight" rating in a report on Monday, July 7th. Piper Sandler lifted their price objective on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. JPMorgan Chase & Co. lifted their target price on Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Evercore ISI decreased their target price on Unum Group from $100.00 to $96.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.62.

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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