Raymond James Financial Inc. Boosts Stock Position in Unum Group $UNM

Key Points

• Raymond James Financial Inc. has increased its stake in Unum Group by 8.1% during the first quarter, owning 290,382 shares worth approximately $23.65 million.
• Unum Group recently reported earnings of $2.07 per share, falling short of expectations, but its revenue increased 4.0% year-over-year to $3.36 billion.
• The company announced a quarterly dividend increase from $0.42 to $0.46 per share, reflecting a 2.7% yield and a payout ratio of 22.01%.

Raymond James Financial Inc. raised its position in Unum Group (NYSE:UNM - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 290,382 shares of the financial services provider's stock after buying an additional 21,770 shares during the quarter. Raymond James Financial Inc. owned about 0.17% of Unum Group worth $23,654,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in Unum Group by 4.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,816,520 shares of the financial services provider's stock worth $473,814,000 after acquiring an additional 264,268 shares during the last quarter. Invesco Ltd. increased its position in Unum Group by 155.6% during the 1st quarter. Invesco Ltd. now owns 2,278,473 shares of the financial services provider's stock valued at $185,604,000 after buying an additional 1,387,139 shares in the last quarter. Northern Trust Corp increased its position 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 valued at $140,973,000 after buying an additional 480,926 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Unum Group by 13.1% in 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 in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Unum Group in the 4th quarter worth $113,962,000. 86.57% of the stock is currently owned by institutional investors.

Unum Group Price Performance

NYSE:UNM opened at $69.1610 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $11.78 billion, a P/E ratio of 8.27, a P/E/G ratio of 1.18 and a beta of 0.40. Unum Group has a 12 month low of $52.71 and a 12 month high of $84.48. The business's 50-day moving average is $76.29 and its 200 day moving average is $77.82.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings data 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). 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 the consensus estimate of $3.35 billion. During the same period in the previous year, the firm earned $2.16 earnings per share. The company's revenue was up 4.0% compared to the same quarter last year. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. On average, equities research analysts forecast 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 was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, July 25th. This is an increase from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 2.7%. Unum Group's payout ratio is presently 22.01%.

Analysts Set New Price Targets

UNM has been the subject of several recent research reports. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $95.00 price target (down previously from $100.00) on shares of Unum Group in a report on Thursday, July 31st. UBS Group set a $87.00 price objective on Unum Group and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Morgan Stanley lowered their price objective on Unum Group from $85.00 to $79.00 and set an "equal weight" rating on the stock in a research report on Monday, August 18th. Wells Fargo & Company lowered 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, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Unum Group presently has a consensus rating of "Moderate Buy" and an average price target of $91.15.

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.

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