Unum Group (NYSE:UNM) Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Unum Group (NYSE: UNM) by 1.4%, owning approximately 11.59% of the company valued at about $1.65 billion after selling 292,178 shares.
• Unum Group recently raised its quarterly dividend from $0.42 to $0.46, representing an annual dividend yield of 2.7%.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Unum Group, with an average target price of $91.62 and expectations for 9.14 earnings per share for the current year.

Vanguard Group Inc. reduced its position in Unum Group (NYSE:UNM - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 20,205,408 shares of the financial services provider's stock after selling 292,178 shares during the period. Vanguard Group Inc. owned about 11.59% of Unum Group worth $1,645,933,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Northern Trust Corp lifted its position in Unum Group by 33.2% during the fourth quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider's stock worth $140,973,000 after acquiring an additional 480,926 shares during the last quarter. First Trust Advisors LP increased its stake in Unum Group by 15.4% in the fourth quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider's stock valued at $124,768,000 after acquiring an additional 227,644 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Unum Group by 13.1% during the first quarter. Victory Capital Management Inc. now owns 1,654,489 shares of the financial services provider's stock worth $134,775,000 after buying an additional 191,572 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of Unum Group during the fourth quarter worth $113,962,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Unum Group during the fourth quarter worth $105,199,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

Unum Group Price Performance

Shares of UNM stock traded up $0.94 on Tuesday, hitting $70.33. 1,068,536 shares of the stock traded hands, compared to its average volume of 1,762,946. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 1.12 and a beta of 0.40. Unum Group has a 52 week low of $52.71 and a 52 week high of $84.48. The firm has a 50 day simple moving average of $78.09 and a two-hundred day simple moving average of $78.25. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30.

Unum Group (NYSE:UNM - Get Free Report) last released its earnings results 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 period last year, the firm posted $2.16 EPS. Unum Group's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts predict that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Friday, July 25th will be paid a $0.46 dividend. This is an increase from Unum Group's previous quarterly dividend of $0.42. This represents a $1.84 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, July 25th. Unum Group's payout ratio is currently 22.01%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on UNM. Keefe, Bruyette & Woods reiterated 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. Wells Fargo & Company lowered their target price on shares of Unum Group from $105.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on shares of Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 8th. Piper Sandler increased their price target on shares of Unum Group from $88.00 to $92.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Finally, UBS Group set a $87.00 target price on shares of Unum Group and gave the company a "neutral" rating in a report on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.