Ritholtz Wealth Management Acquires 7,990 Shares of Unum Group (NYSE:UNM)

Ritholtz Wealth Management lifted its stake in shares of Unum Group (NYSE:UNM - Free Report) by 23.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,167 shares of the financial services provider's stock after buying an additional 7,990 shares during the quarter. Ritholtz Wealth Management's holdings in Unum Group were worth $3,435,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of UNM. Fifth Third Bancorp grew its position in shares of Unum Group by 4.0% during the 1st quarter. Fifth Third Bancorp now owns 3,558 shares of the financial services provider's stock worth $290,000 after buying an additional 136 shares during the period. Bessemer Group Inc. boosted its stake in Unum Group by 2.2% during the fourth quarter. Bessemer Group Inc. now owns 6,536 shares of the financial services provider's stock worth $478,000 after acquiring an additional 143 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Unum Group by 0.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 18,211 shares of the financial services provider's stock worth $1,330,000 after purchasing an additional 147 shares during the period. QRG Capital Management Inc. increased its stake in Unum Group by 1.4% in the fourth quarter. QRG Capital Management Inc. now owns 13,336 shares of the financial services provider's stock valued at $974,000 after purchasing an additional 189 shares in the last quarter. Finally, Belpointe Asset Management LLC raised its holdings in shares of Unum Group by 2.1% during the fourth quarter. Belpointe Asset Management LLC now owns 9,151 shares of the financial services provider's stock valued at $668,000 after purchasing an additional 189 shares during the period. Institutional investors own 86.57% of the company's stock.

Unum Group Stock Performance

UNM stock traded up $0.59 during midday trading on Monday, hitting $78.78. The company's stock had a trading volume of 982,857 shares, compared to its average volume of 1,320,711. The stock has a market cap of $13.74 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.14 and a beta of 0.43. The company has a quick ratio of 0.28, a current ratio of 0.29 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $79.00 and its 200 day moving average price is $77.09. Unum Group has a 1 year low of $48.38 and a 1 year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.34 billion. Unum Group had a return on equity of 14.91% and a net margin of 13.81%. The business's quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. On average, equities analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group announced that its board has authorized a share buyback plan on Tuesday, February 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Unum Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 16th. Investors of record on Friday, April 25th were paid a $0.42 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.68 annualized dividend and a yield of 2.13%. Unum Group's payout ratio is 19.79%.

Insider Buying and Selling at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total value of $800,000.00. Following the sale, the executive vice president now directly owns 51,170 shares of the company's stock, valued at approximately $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on UNM shares. Piper Sandler raised their price objective on Unum Group from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Morgan Stanley boosted their price target on shares of Unum Group from $76.00 to $83.00 and gave the company an "equal weight" rating in a research note on Monday, May 19th. JPMorgan Chase & Co. raised their price objective on shares of Unum Group from $81.00 to $87.00 and gave the company a "neutral" rating in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods decreased their target price on shares of Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays upped their target price on shares of Unum Group from $85.00 to $89.00 and gave the stock an "overweight" rating in a report on Friday, April 11th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.29.

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.