Unum Group $UNM Stock Position Lessened by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Unum Group by 9.8%, now holding 49,083 shares valued at $3.998 million.
• Unum Group reported an EPS of $2.07 for the last quarter, missing expectations, but indicated a revenue increase of 4% year-over-year.
• The company announced an increase in its quarterly dividend to $0.46 per share, representing an annualized dividend yield of 2.7%.

State of New Jersey Common Pension Fund D lowered its holdings in shares of Unum Group (NYSE:UNM - Free Report) by 9.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 49,083 shares of the financial services provider's stock after selling 5,352 shares during the period. State of New Jersey Common Pension Fund D's holdings in Unum Group were worth $3,998,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in UNM. Balyasny Asset Management L.P. acquired a new stake in shares of Unum Group during the fourth quarter valued at $113,962,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Unum Group in the fourth quarter valued at approximately $105,199,000. Invesco Ltd. raised its position in shares of Unum Group by 155.6% in the first 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 during the last quarter. Nuveen LLC acquired a new position in shares of Unum Group in the first quarter valued at approximately $93,287,000. Finally, Freestone Grove Partners LP acquired a new position in shares of Unum Group in the fourth quarter valued at approximately $65,096,000. Institutional investors and hedge funds own 86.57% of the company's stock.

Analysts Set New Price Targets

UNM has been the subject of a number of analyst reports. Wells Fargo & Company cut their price objective on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Evercore ISI cut their price objective on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Barclays set a $96.00 price objective on shares of Unum Group and gave the company an "overweight" rating in a research report on Monday, July 7th. UBS Group set a $87.00 price target on shares of Unum Group and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Finally, Piper Sandler upped their price target on shares of Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, July 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.15.

Unum Group Stock Down 0.2%

Shares of NYSE UNM traded down $0.1610 during midday trading on Monday, reaching $69.7590. 131,414 shares of the company's stock were exchanged, compared to its average volume of 1,418,318. The business's fifty day moving average price is $76.48 and its two-hundred day moving average price is $77.88. Unum Group has a 52-week low of $52.71 and a 52-week high of $84.48. The stock has a market capitalization of $11.88 billion, a PE ratio of 8.34, a price-to-earnings-growth ratio of 1.18 and a beta of 0.40. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.30 and a current ratio of 0.30.

Unum Group (NYSE:UNM - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). Unum Group had a net margin of 11.77% and a return on equity of 13.44%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company earned $2.16 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. Analysts forecast that Unum Group will post 9.14 EPS for the current year.

Unum Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, July 25th were given a $0.46 dividend. This is a boost from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Friday, July 25th. Unum Group's dividend payout ratio is 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.