Norden Group LLC Invests $806,000 in Unum Group (NYSE:UNM)

Key Points

• Norden Group LLC acquired a new stake in Unum Group, purchasing 9,893 shares valued at approximately $806,000 during the first quarter.
• Unum Group reported $2.07 earnings per share for the last quarter, which was below the consensus estimate of $2.25, while also announcing a quarterly dividend increase from $0.42 to $0.46.
• Several analysts have raised their price targets for Unum Group shares, with the average target now at $91.77 and a consensus rating of "Moderate Buy."

Norden Group LLC acquired a new position in shares of Unum Group (NYSE:UNM - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,893 shares of the financial services provider's stock, valued at approximately $806,000.

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

Unum Group Price Performance

Shares of NYSE:UNM traded down $2.37 during trading on Friday, reaching $69.44. The stock had a trading volume of 1,567,765 shares, compared to its average volume of 1,432,071. 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 business has a fifty day moving average price of $79.91 and a 200-day moving average price of $78.49. The stock has a market cap of $12.11 billion, a PE ratio of 8.29, a PEG ratio of 1.18 and a beta of 0.41. Unum Group has a 1-year low of $51.80 and a 1-year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last announced its quarterly earnings data 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). Unum Group had a return on equity of 13.44% and a net margin of 11.77%. The company had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the previous year, the business posted $2.16 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given 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 is Friday, July 25th. Unum Group's dividend payout ratio (DPR) is presently 22.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on UNM shares. UBS Group set a $87.00 target price on Unum Group and gave the stock a "neutral" rating in a research note on Wednesday. Evercore ISI dropped their price objective on Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $95.00 price objective (down from $100.00) on shares of Unum Group in a research report on Thursday. Wells Fargo & Company dropped their price objective on Unum Group from $105.00 to $100.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Morgan Stanley increased their price objective on Unum Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $91.62.

Insider Buying and Selling

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the company's stock in a transaction dated 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 directly owned 51,170 shares of the company's stock, valued at approximately $4,093,600. This represents a 16.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.92% of the stock is owned by corporate insiders.

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.