Townsquare Capital LLC Grows Position in Unum Group (NYSE:UNM)

Key Points

• Townsquare Capital LLC increased its stake in Unum Group by 89.2%, now holding 24,781 shares valued at approximately $2.02 million.
• Unum Group recently announced a quarterly dividend increase from $0.42 to $0.46, representing an annual yield of 2.6%.
• Analysts have adjusted their price targets for Unum Group, with the average target now at $91.62, reflecting a positive outlook despite some reductions in individual targets.

Townsquare Capital LLC boosted its position in Unum Group (NYSE:UNM - Free Report) by 89.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,781 shares of the financial services provider's stock after purchasing an additional 11,681 shares during the quarter. Townsquare Capital LLC's holdings in Unum Group were worth $2,019,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Unum Group by 196.9% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 478 shares of the financial services provider's stock worth $39,000 after buying an additional 317 shares during the last quarter. Roof Eidam Maycock Peralta LLC grew its position in shares of Unum Group by 120.5% in the 1st quarter. Roof Eidam Maycock Peralta LLC now owns 6,240 shares of the financial services provider's stock worth $508,000 after buying an additional 3,410 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of Unum Group by 7.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 5,780 shares of the financial services provider's stock worth $465,000 after buying an additional 395 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 buying an additional 264,268 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in shares of Unum Group by 95.4% in the 1st quarter. Manchester Capital Management LLC now owns 1,030 shares of the financial services provider's stock worth $84,000 after buying an additional 503 shares during the last quarter. 86.57% of the stock is currently owned by institutional investors.

Unum Group Price Performance

Shares of NYSE:UNM opened at $70.33 on Wednesday. Unum Group has a twelve month low of $52.71 and a twelve month high of $84.48. The company's 50 day moving average is $78.09 and its 200 day moving average is $78.25. 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 cap of $11.98 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.12 and a beta of 0.40.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.07 EPS 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 during the quarter, compared to analysts' expectations of $3.35 billion. During the same quarter in the prior year, the company posted $2.16 EPS. The company's revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that Unum Group will post 9.14 EPS for the current 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 given a $0.46 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.84 annualized dividend and a yield of 2.6%. This is a boost from Unum Group's previous quarterly dividend of $0.42. Unum Group's payout ratio is currently 22.01%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore ISI cut their price objective on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 30th. Piper Sandler upped their price objective on shares of Unum Group from $88.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Keefe, Bruyette & Woods restated an "outperform" rating and set a $95.00 price objective (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 shares of Unum Group and gave the company a "neutral" rating in a report on Wednesday, July 30th. Finally, Morgan Stanley lifted their price target on Unum Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $91.62.

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.

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