Unum Group (NYSE:UNM) Position Cut by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC cut its stake in Unum Group by 4.7%, owning 84,569 shares valued at approximately $6.89 million after selling 4,178 shares in the first quarter.
• The company increased its quarterly dividend to $0.46 per share, up from $0.42, reflecting a 2.7% dividend yield and a payout ratio of 22.01%.
• Recent analyst ratings show a consensus of "Moderate Buy" for Unum Group, with an average price target of $91.62, despite some mixed updates on target prices from major firms.

Mutual of America Capital Management LLC trimmed its holdings in Unum Group (NYSE:UNM - Free Report) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,569 shares of the financial services provider's stock after selling 4,178 shares during the quarter. Mutual of America Capital Management LLC's holdings in Unum Group were worth $6,889,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Rossby Financial LCC acquired a new position in Unum Group in the first quarter worth approximately $46,000. Wayfinding Financial LLC acquired a new position in shares of Unum Group in the first quarter worth $49,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Unum Group by 60.3% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,282 shares of the financial services provider's stock worth $104,000 after purchasing an additional 482 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Unum Group during the fourth quarter valued at approximately $102,000. Finally, Capital Analysts LLC acquired a new stake in shares of Unum Group in the 4th quarter valued at $108,000. Institutional investors own 86.57% of the company's stock.

Analyst Ratings Changes

UNM has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a report on Tuesday, July 8th. Evercore ISI decreased their price target on shares of Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 30th. Piper Sandler increased their target price on Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Wells Fargo & Company cut their price target on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Finally, Morgan Stanley boosted their price objective on Unum Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Unum Group currently has a consensus rating of "Moderate Buy" and an average target price of $91.62.

Unum Group Price Performance

Shares of UNM opened at $68.52 on Friday. The stock has a market cap of $11.67 billion, a P/E ratio of 8.20, a price-to-earnings-growth ratio of 1.13 and a beta of 0.40. The stock's 50-day moving average price is $78.82 and its two-hundred day moving average price is $78.34. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.31. Unum Group has a 1 year low of $52.65 and a 1 year high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last issued 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 business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the business posted $2.16 EPS. The business's quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Unum Group will post 9.14 earnings per share for the current year.

Unum Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, July 25th. This is a boost from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.7%. Unum Group's dividend payout ratio is 22.01%.

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.

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