Jefferies Financial Group Inc. Cuts Position in Unum Group (NYSE:UNM)

Key Points

• Jefferies Financial Group Inc. significantly decreased its stake in Unum Group by 61.1% in the first quarter, now holding 22,166 shares valued at approximately $1.8 million.
• Unum Group recently declared a quarterly dividend of $0.46 per share, increasing from the previous $0.42, offering an annualized dividend yield of 2.6%.
• Analysts have mixed ratings for Unum Group, with target prices ranging from $87 to $96 per share, indicating a consensus average rating of "Moderate Buy."

Jefferies Financial Group Inc. decreased its holdings in Unum Group (NYSE:UNM - Free Report) by 61.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,166 shares of the financial services provider's stock after selling 34,885 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Unum Group were worth $1,806,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in UNM. Brighton Jones LLC bought a new position in Unum Group in the 4th quarter valued at about $247,000. JPMorgan Chase & Co. lifted its position in Unum Group by 14.1% in the 4th quarter. JPMorgan Chase & Co. now owns 711,866 shares of the financial services provider's stock valued at $51,988,000 after acquiring an additional 88,142 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in shares of Unum Group by 48.9% during the 4th quarter. Orion Portfolio Solutions LLC now owns 13,559 shares of the financial services provider's stock worth $990,000 after buying an additional 4,450 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Unum Group during the 4th quarter worth approximately $240,000. Finally, Wells Fargo & Company MN lifted its position in shares of Unum Group by 14.2% during the 4th quarter. Wells Fargo & Company MN now owns 122,387 shares of the financial services provider's stock worth $8,938,000 after buying an additional 15,251 shares in the last quarter. Institutional investors own 86.57% of the company's stock.

Insider Activity at Unum Group

In other news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the transaction, the executive vice president directly owned 51,170 shares in the company, valued at $4,093,600. The trade was a 16.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on UNM shares. Piper Sandler lifted their target price 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. JPMorgan Chase & Co. lifted their target price on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Morgan Stanley lifted their target price on shares of Unum Group from $83.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. UBS Group set a $87.00 price target on shares of Unum Group and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Finally, 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. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Unum Group has a consensus rating of "Moderate Buy" and a consensus price target of $91.62.

Unum Group Stock Performance

Unum Group stock traded up $0.15 during mid-day trading on Tuesday, reaching $70.10. The company's stock had a trading volume of 1,572,926 shares, compared to its average volume of 1,657,694. The firm's fifty day moving average price is $79.28 and its two-hundred day moving average price is $78.44. The company has a market capitalization of $11.94 billion, a P/E ratio of 8.39, a PEG ratio of 1.13 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 has a 12-month low of $52.35 and a 12-month high of $84.48.

Unum Group (NYSE:UNM - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.07 EPS for the quarter, missing analysts' consensus estimates of $2.23 by ($0.16). The firm had revenue of $3.36 billion for the quarter, compared to analysts' expectations of $3.35 billion. Unum Group had a net margin of 11.77% and a return on equity of 13.44%. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.16 earnings per share. Sell-side analysts predict that Unum Group will post 9.14 EPS for the current fiscal year.

Unum Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be given a dividend of $0.46 per share. This is an increase from Unum Group's previous quarterly dividend of $0.42. The ex-dividend date is Friday, July 25th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.6%. Unum Group's dividend payout ratio (DPR) is presently 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.