Proficio Capital Partners LLC Cuts Position in Unum Group (NYSE:UNM)

Proficio Capital Partners LLC lowered its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 98.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,545 shares of the financial services provider's stock after selling 154,323 shares during the quarter. Proficio Capital Partners LLC's holdings in Unum Group were worth $207,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in UNM. Brighton Jones LLC purchased a new position in Unum Group during the 4th quarter valued at approximately $247,000. Commonwealth Equity Services LLC grew its holdings in shares of Unum Group by 5.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 43,802 shares of the financial services provider's stock valued at $3,199,000 after purchasing an additional 2,311 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Unum Group by 18.6% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,486 shares of the financial services provider's stock valued at $401,000 after purchasing an additional 860 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Unum Group by 34.2% in the 4th quarter. American Century Companies Inc. now owns 300,807 shares of the financial services provider's stock worth $21,968,000 after buying an additional 76,708 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Unum Group by 7.9% in the 4th quarter. Sei Investments Co. now owns 397,302 shares of the financial services provider's stock worth $29,015,000 after buying an additional 29,148 shares in the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Unum Group Stock Performance

Shares of NYSE:UNM traded up $0.73 during trading on Friday, hitting $80.74. The stock had a trading volume of 947,729 shares, compared to its average volume of 1,136,950. Unum Group has a 12-month low of $51.80 and a 12-month high of $84.48. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 9.51, a price-to-earnings-growth ratio of 1.26 and a beta of 0.41. 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 stock has a 50-day simple moving average of $80.31 and a two-hundred day simple moving average of $78.40.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). Unum Group had a return on equity of 14.17% and a net margin of 12.31%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.34 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The business's quarterly revenue was down 3.4% compared to the same quarter last year. On average, equities 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 disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.28%. This is a positive change from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio (DPR) is presently 19.79%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on UNM shares. Piper Sandler lifted their price target on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. Keefe, Bruyette & Woods dropped their target price on Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. 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 report on Tuesday, July 8th. UBS Group set a $89.00 price objective on shares of Unum Group and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Unum Group from $97.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Five 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 stock. According to data from MarketBeat.com, Unum Group presently has a consensus rating of "Moderate Buy" and an average target price of $91.77.

Insiders Place Their Bets

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of Unum Group 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 directly owned 51,170 shares in the company, valued at approximately $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.92% of the company's stock.

Unum Group 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.