Royal Bank of Canada Decreases Stock Holdings in Unum Group $UNM

Key Points

• Royal Bank of Canada cut its Unum Group stake by 8.4% in the first quarter, selling 94,448 shares and retaining 1.04 million shares worth approximately $75.6 million. Institutional investors collectively own 86.57% of Unum’s stock.
• Analysts maintain a generally positive outlook, with eight Buy ratings and six Holds, producing a “Moderate Buy” consensus and an average price target of $99.25 versus the stock’s $86.13 opening price.
• Unum reported quarterly EPS of $2.16, matching estimates, while revenue reached $3.39 billion and rose 0.3% year over year. The company also raised its quarterly dividend from $0.46 to $0.505, equivalent to a 2.3% annualized yield.

Royal Bank of Canada reduced its position in Unum Group (NYSE:UNM - Free Report) by 8.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,035,394 shares of the financial services provider's stock after selling 94,448 shares during the period. Royal Bank of Canada owned 0.65% of Unum Group worth $75,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Laurel Wealth Advisors LLC bought a new position in shares of Unum Group during the 4th quarter worth approximately $25,000. SHP Wealth Management acquired a new stake in Unum Group in the fourth quarter valued at approximately $25,000. MBM Wealth Consultants LLC acquired a new stake in Unum Group in the first quarter valued at approximately $29,000. Triumph Capital Management purchased a new position in Unum Group in the third quarter worth $31,000. Finally, Ancora Advisors LLC grew its holdings in Unum Group by 385.2% in the third quarter. Ancora Advisors LLC now owns 427 shares of the financial services provider's stock worth $33,000 after purchasing an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 86.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on UNM. Jefferies Financial Group increased their price objective on Unum Group from $117.00 to $123.00 and gave the company a "buy" rating in a report on Friday, July 10th. Wells Fargo & Company boosted their target price on Unum Group from $100.00 to $101.00 and gave the stock an "overweight" rating in a research note on Thursday, July 9th. Barclays boosted their target price on Unum Group from $105.00 to $110.00 and gave the stock an "overweight" rating in a research note on Monday, July 6th. Zacks Research raised Unum Group from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Finally, UBS Group set a $94.00 price target on Unum Group in a research note on Tuesday, July 7th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $99.25.

Unum Group Stock Down 0.7%

NYSE:UNM opened at $86.13 on Friday. The company has a market cap of $13.63 billion, a PE ratio of 20.08, a P/E/G ratio of 0.91 and a beta of 0.25. Unum Group has a twelve month low of $68.28 and a twelve month high of $93.21. The company has a current ratio of 0.34, a quick ratio of 0.35 and a debt-to-equity ratio of 0.35. The company's 50 day moving average is $88.14 and its two-hundred day moving average is $80.31.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $2.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.16. The business had revenue of $3.39 billion for the quarter, compared to analyst estimates of $2.90 billion. Unum Group had a net margin of 5.26% and a return on equity of 12.60%. Unum Group's revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.92 EPS. Unum Group has set its FY 2026 guidance at 8.600-8.900 EPS. Analysts anticipate that Unum Group will post 8.72 EPS for the current year.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Friday, July 24th will be given a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Friday, July 24th. This is a positive change from Unum Group's previous quarterly dividend of $0.46. Unum Group's payout ratio is currently 47.09%.

Unum Group Profile

Unum Group NYSE: UNM is a leading provider of employee benefits in the United States and selected international markets, specializing in disability, life, accident and critical illness insurance. Through both fully insured and self-funded arrangements, the company offers group coverage designed to protect income and mitigate financial hardship for employees and their families. Its portfolio includes short-term and long-term disability plans, group life and accidental death & dismemberment (AD&D) policies, as well as critical illness and hospital indemnity products.

In addition to its core product lines, Unum Group markets voluntary benefits under its Colonial Life brand, allowing employees to purchase supplemental insurance such as accident, cancer, and dental coverage directly through payroll deductions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.