Zurcher Kantonalbank Zurich Cantonalbank Purchases 327,711 Shares of Unum Group (NYSE:UNM)

Key Points

• Zurcher Kantonalbank increased its stake in Unum Group by 724% in the first quarter, acquiring a total of 372,978 shares valued at approximately $30.4 million.
• Unum Group announced a quarterly dividend of $0.46, an increase from the previous $0.42, with a dividend yield of 2.28%.
• Despite posting $2.04 EPS for the last quarter, Unum Group missed consensus estimates by $0.15, and reported a 3.4% decline in year-over-year revenue.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Unum Group (NYSE:UNM - Free Report) by 724.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 372,978 shares of the financial services provider's stock after purchasing an additional 327,711 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.21% of Unum Group worth $30,383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. HB Wealth Management LLC lifted its position in Unum Group by 44.5% in the first quarter. HB Wealth Management LLC now owns 8,565 shares of the financial services provider's stock valued at $698,000 after purchasing an additional 2,637 shares during the last quarter. Prossimo Advisors LLC lifted its position in Unum Group by 5.5% in the first quarter. Prossimo Advisors LLC now owns 6,338 shares of the financial services provider's stock valued at $516,000 after purchasing an additional 329 shares during the last quarter. Cetera Investment Advisers lifted its position in Unum Group by 69.1% in the first quarter. Cetera Investment Advisers now owns 62,495 shares of the financial services provider's stock valued at $5,091,000 after purchasing an additional 25,528 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Unum Group by 3.1% in the first quarter. Avantax Advisory Services Inc. now owns 9,511 shares of the financial services provider's stock valued at $775,000 after purchasing an additional 285 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new position in shares of Unum Group during the first quarter valued at approximately $1,995,000. Institutional investors own 86.57% of the company's stock.

Insiders Place Their Bets

In other Unum Group news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total value of $800,000.00. Following the transaction, the executive vice president owned 51,170 shares of the company's stock, valued at approximately $4,093,600. This represents a 16.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company's stock.

Unum Group Stock Up 1.1%

Shares of NYSE UNM traded up $0.79 during trading on Thursday, reaching $71.90. The company had a trading volume of 1,569,197 shares, compared to its average volume of 1,418,436. Unum Group has a 12-month low of $51.80 and a 12-month high of $84.48. The stock has a market cap of $12.54 billion, a PE ratio of 8.60, a P/E/G ratio of 1.27 and a beta of 0.41. The business's 50-day moving average is $80.25 and its 200 day moving average is $78.55. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.31.

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 net margin of 11.77% and a return on equity of 13.52%. The business had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.35 billion. During the same period last year, the business earned $2.16 earnings per share. The company's quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Friday, July 25th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, July 25th. This is a boost from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 2.56%. Unum Group's dividend payout ratio (DPR) is 22.01%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on UNM. Keefe, Bruyette & Woods restated an "outperform" rating and set a $95.00 target price (down previously from $100.00) on shares of Unum Group in a report on Thursday. Piper Sandler upped their target price on Unum Group from $88.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. Morgan Stanley upped their target price on Unum Group from $83.00 to $85.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. Evercore ISI reduced their price target on Unum Group from $100.00 to $96.00 and set an "outperform" rating on the stock in a research note on Wednesday. Finally, Barclays set a $96.00 price target on Unum Group and gave the stock an "overweight" rating in a research note on Monday, July 7th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Unum Group 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.