Nuveen LLC Takes $93.29 Million Position in Unum Group (NYSE:UNM)

Key Points

• Nuveen LLC has acquired a new stake in Unum Group, purchasing approximately $93.29 million worth of shares during Q1, representing about 0.66% of the company.
• Unum Group announced a quarterly dividend increase to $0.46 per share, boosting its annualized dividend to $1.84 with a yield of 2.6%.
• Analysts have shown a positive outlook, with multiple firms raising their target prices for Unum Group, resulting in a current consensus price target of $91.62.

Nuveen LLC purchased a new stake in Unum Group (NYSE:UNM - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,145,189 shares of the financial services provider's stock, valued at approximately $93,287,000. Nuveen LLC owned approximately 0.66% of Unum Group as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. N.E.W. Advisory Services LLC bought a new stake in shares of Unum Group in the 1st quarter valued at about $35,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in 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 worth $39,000 after purchasing an additional 317 shares in the last quarter. Rossby Financial LCC acquired a new stake in Unum Group in the 1st quarter worth approximately $46,000. Wayfinding Financial LLC acquired a new stake in Unum Group in the 1st quarter worth approximately $49,000. Finally, Cullen Frost Bankers Inc. boosted 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 purchasing an additional 748 shares in the last quarter. 86.57% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Morgan Stanley lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Barclays set a $96.00 target price on shares of Unum Group and gave the company an "overweight" rating in a report on Monday, July 7th. UBS Group set a $87.00 target price on shares of Unum Group and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $95.00 target price (down from $100.00) on shares of Unum Group in a report on Thursday, July 31st. Five equities 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $91.62.

Unum Group Trading Up 1.3%

Shares of UNM opened at $70.33 on Wednesday. Unum Group has a 52-week low of $52.71 and a 52-week high of $84.48. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31. The firm's fifty day moving average is $78.09 and its two-hundred day moving average is $78.25. The stock has a market cap of $11.98 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40.

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 for the quarter, missing the consensus estimate of $2.23 by ($0.16). The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates 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 was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.16 EPS. Research analysts forecast that Unum Group will post 9.14 earnings per share 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 given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, July 25th. This is a positive change from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio is presently 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.

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).

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.