Truist Financial Corp Cuts Stock Holdings in Unum Group $UNM

Key Points

• Truist Financial Corp has reduced its holdings in Unum Group by 7.0%, now owning 328,722 shares valued at approximately $26.5 million.
• Unum Group recently reported a decline in quarterly earnings, missing analysts' estimates and setting a FY 2025 guidance with an EPS target of 8.50.
• The company has updated its quarterly dividend to $0.46 per share, reflecting an increase, resulting in an annualized yield of 2.3%.

Truist Financial Corp lessened its stake in shares of Unum Group (NYSE:UNM - Free Report) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 328,722 shares of the financial services provider's stock after selling 24,900 shares during the period. Truist Financial Corp owned 0.19% of Unum Group worth $26,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Stratos Wealth Partners LTD. increased its stake in Unum Group by 28.3% in the 1st quarter. Stratos Wealth Partners LTD. now owns 3,802 shares of the financial services provider's stock worth $310,000 after acquiring an additional 838 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Unum Group during the 4th quarter valued at approximately $240,000. HighTower Advisors LLC boosted its position in shares of Unum Group by 0.3% during the 1st quarter. HighTower Advisors LLC now owns 60,370 shares of the financial services provider's stock valued at $4,918,000 after acquiring an additional 201 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Unum Group during the first quarter valued at $646,000. Finally, Royal Bank of Canada lifted its position in Unum Group by 0.5% during the first quarter. Royal Bank of Canada now owns 1,416,124 shares of the financial services provider's stock valued at $115,358,000 after purchasing an additional 6,648 shares during the last quarter. Institutional investors own 86.57% of the company's stock.

Analysts Set New Price Targets

UNM has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Unum Group from $87.00 to $96.00 and gave the company a "neutral" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $95.00 price target (down previously from $100.00) on shares of Unum Group in a report on Thursday, July 31st. Wolfe Research raised shares of Unum Group to a "strong-buy" rating in a report on Tuesday, September 16th. Barclays set a $96.00 price objective on Unum Group and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, Wells Fargo & Company lowered their price objective on Unum Group from $105.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.14.

Unum Group Stock Up 0.3%

Shares of NYSE UNM opened at $78.52 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30. The company has a market cap of $13.37 billion, a P/E ratio of 9.39, a PEG ratio of 1.32 and a beta of 0.36. Unum Group has a 1 year low of $58.66 and a 1 year high of $84.48. The firm has a 50-day simple moving average of $73.00 and a two-hundred day simple moving average of $77.23.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly 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 return on equity of 13.44% and a net margin of 11.77%.The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the business posted $2.16 earnings per share. Unum Group's revenue was up 4.0% on a year-over-year basis. Unum Group has set its FY 2025 guidance at 8.500-8.50 EPS. Research analysts anticipate that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Friday, July 25th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Friday, July 25th. This is a positive change from Unum Group's previous quarterly dividend of $0.42. Unum Group's dividend payout ratio (DPR) 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.

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